FBLG Banking Letter Welcome to our webpage featuring our most recent issue of the FBLG Banking Letter – a publication of Fortner, Bayens, Levkulich & Garrison, P.C.  These newsletters will focus on the latest news and events that impact community banks.  Our goal is to use the expertise we have gained through our specialization in banking services to benefit our constituency, community banks throughout the West. Topical information from previous issues of the FBLG Banking Letter and other sources may be found under the tab "Banking Library."       A publication of Fortner Bayens Levkulich & Garrison, P.C.    Headlines Highlights of the Financial Reform Passed by the House of Representatives Accounting for Sales of SBA Loans Interagency Guidelines for Real Estate Lending Policies Highlights of the Financial Reform Passed by the House of Representatives by Charles J. Garrison, CPA Last week, the U.S. House of Representatives passed its version of the Wall Street Reform and Consumer Protection Act. While the House-passed version is substantially similar to the final conference committee agreement, some elements are important to community banks. To read more, click here. Accounting for Sales of SBA Loans by Daniel C. Dibella, CPA Banks that originate Small Business Administration (SBA) loans and sell the guaranteed portion on the secondary market must follow the provisions of Accounting Standards Codification Topic 860, Transfers and Servicing, when accounting for the sale transaction. Generally, the provisions require recognition of the loan sale to be deferred, and recognition of the gain on sale to be deferred, until a 90-day recourse period has expired. To read more, click click here.   Interagency Guidelines for Real Estate Lending Policies by Daniel R. McDonald The function of the Interagency Guidelines for Real Estate Lending Policies is to assist financial institutions in adopting and maintaining a real estate lending policy that is appropriate for the size of the institution and to meet the requirements of the regulation. To read more, click here.       Upcoming Events KS - 2010 Annual Trade Show July 8-10 NM - Independent Community Bankers Association of New Mexico  Jul 30-Aug 1  KS - Kansas Bankers Association Aug 6-8 CO - Independent Bankers of Colorado   Sep 16-18 Upcoming Dates FR Y-8 Due 7/30/10 FR Y-9ES Due 7/31/10 Form 5500 Due 8/2/10 FR Y-9C Due 8/9/10 FR Y-9SP or FR Y-9LP Due 8/14/10