Who Do You Call?

By Craig H. Howie
Senior Executive Vice President

The foundation for the merger of BBN with ACBB was to provide a stronger bankers’ bank for community financial institutions throughout the Mid-Atlantic states and New England. We can achieve this through operational efficiency, a broader array of competitive products and better customer pricing through greater aggregation. We are now in the process of streamlining and synchronizing our business practices and procedures. Depending on products and services used, this may result in changes that could affect your institution.

Compliance Anchor Overview

By Kevin Martin, CRCM, CAMS
Compliance Anchor Consultant 

Compliance Anchor is one of ACBB’s best-kept secrets! Many of you are new to ACBB and/or Compliance Anchor and may only be aware of us as webinar providers. There is so much more to tell! Here’s an overview of what Compliance Anchor does for community financial institutions:

CEO Corner

 By Jon Evans

On April 6, we implemented the conversion of our systems with those of BBN. While we experienced some problems at the time, operations should be flowing smoother now. There still need to be some changes made to XNET and for that, we seek your input, as our goal is to have an efficient, user friendly customer communications platform.

ACBB 2017 Financial Results

ACBB reported net income (unaudited) of $2,732,495, yielding an ROAA of 0.43%.  This included a deferred tax adjustment of $1,594,173 which was primarily due to our robust loan loss reserve coverage.  On a consolidated holding company basis, earnings were $2,549,941, primarily due to merger related legal expenses.  It should be noted without the DTA we would have experienced near record levels of earnings.  Please also note, remaining estimated merger related expenses (i.e. severance, vendor contracts) of approximately $500K will be realized within the first half of 2018.