Everyone has been impacted by the COVID-19 global pandemic in some way or another, and the agricultural industry is no different. This paper outlines three areas of impact from COVID-19 that lenders to the ag industry will want to continue to evaluate in 2021: farm income, loan demand, and credit risk.
Download to learn:
- The key questions ag lenders should be asking as they approach lending season
- What is causing the current lack of demand for ag loans
- The effect government payments have had on the farm economy
- Market trends and implications uncovered by Aite
- Key statistics on leading Loan Origination Systems (LOS) vendors
- Strength and weaknesses of Abrigo
- The Aite Matrix Evaluation used as a foundation for the report
For the third year in a row, Abrigo (formerly MST, Sageworks, and Bankers Toolbox) surveyed 125 individuals at a wide range of financial institutions to gauge CECL preparedness. The 2019 survey shows that as the Q1 2020 compliance date looms for SEC registrants, institutions of all types are making progress – but not enough, according to CECL experts.
“The clock is ticking,” said Abrigo Senior Director of Advisory Services Regan Camp. “While many financial institutions are taking the necessary steps to make sure they are prepared for this important change in accounting for credit losses, it’s clear that others are falling behind their peers.”
Download the 2019 CECL survey results to learn:
- The decisions that institutions are making in the CECL transition
- How much progress has been made in 2019 compared to previous years
- The differing results between SEC filers, community and mid-market banks, and credit unions