In This Issue:

- Another Perspective: David Barksdale, President and Chief Executive Officer, Carolina Premier Bank:

For the past several months, David Barksdale has been leading the charge at Carolina Premier Bank. With 27 years of banking experience, he most recently was the Chief Innovation Officer at NewBridge Bank - growing it to be one of North Carolina's largest community lenders. Given this new role, we asked David what his experience has been with Carolina Premier, if his leadership philosophy has changed and where he sees community banks in the future...

- Unauthorized Transfers Present Growing Risks for Commercial Accounts:

Could your institution be at risk of liability for unauthorized wire transfers and ACH credit transfers? Data security breaches continue to garner headlines, and criminals continue to engage in targeted activities to steal millions of dollars in unauthorized funds. Community banks and small financial institutions must heed the warnings of recent cases addressing the issue, as well as the statutory framework of Article 4A of the UCC, which explains who is responsible for resulting losses....

- The Fiduciary Exception to the Attorney-Client Privilege: Whose Privilege is it in Litigation?

The attorney-client privilege is a cornerstone of the legal practice. Can a fiduciary rely on the attorney-client privilege to prevent disclosure to trust or estate beneficiaries of communications between the fiduciary and its attorney? If a fiduciary ends up in a dispute with a beneficiary regarding the administration of a trust or estate, or claims of misconduct against the fiduciary, how should one proceed with caution?

- SBA Lending May Be Critical to Future of Community Banking:

Headlines should read, "Congress and President Do Something Right!" On July 28, 2015, only one day after Congress passed the matter, the President signed into law an increase in SBA lending for the 7(a) program. One common SBA lending program, 504, was not restricted, so loans for buying and developing real estate continued. The 7(a) program was restricted and frozen since reaching the limit earlier in July. That is a critical program particularly for the many retiring Baby Boomers looking to sell companies to third parties or employees. So, where do we stand now?

- How Bad is Dodd-Frank for Community Banks?

Congress passed the Dodd-Frank Act in June and July 2010 with minimal Republican support, and it was signed by President Obama July 21, 2010. Since passing, Dodd-Frank has been hailed, depending on who answers, as salvation for our banking system or the death knell of community banking. The American Banker published a number of articles about this act in July 2015. Most were critical, highlighting the raised regulatory burden, which is huge. One implied the act is driving community banks to merge, quickly reducing the number of community banks and eliminating banking offices in some communities. Here's our perspective.