Springfield Regional Conference
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Session Descriptions
Estate Planning Strategies for S Corporation Shareholders
Proper planning is an integral part of every successful estate transfer. However, with Congress continually changing the Estate Planning laws, it’s difficult to know where to start when considering Estate Planning issues. In a two hour presentation, Scot Boulton (Springfield) will shed light on recent legislative and regulatory developments regarding Estate Planning and provide practical tips that you might consider for your future.
Capital Raising in Uncertain Times
Throughout this economic downturn, three words continue to resonate among the financial services industry: “Capital. Is. King.” This simple axiom can often be heard echoing down the halls of Congress, and may as well be the battle cry for the federal agencies charged with quelling the recession. Raising capital is always a substantial undertaking, but it can be particularly onerous for banks organized as S corporations. Due to the restrictions on the number and types of shareholders S corporations may have, and the types of securities S corporations may issue, many Sub S financial institutions are finding it next to impossible to raise the capital resources necessary to remain competitive in today’s changing banking environment.
This session will illustrate the current methods by which Subchapter S banks and bank holding companies may raise capital without causing an inadvertent termination of their valuable Subchapter S elections. It will also explore pending legislative proposals that would open up additional avenues through which S corporations could attract investors.
Dividend Planning and Optimizing the Level of Tax Exempts in your Investment Portfolio
The past few years have brought a myriad of challenges to small banks, including increased loan losses, securities losses, and increased deposit insurance premiums. In addition, a dizzying array of tax law changes is on the horizon. The combination of decreased earnings and uncertain tax rates means that many institutions may not be fully utilizing their tax-exempt income. Many go into a Sub S conversion thinking they need the maximum municipals possible in their portfolio, but very few consistently review their allocations. Join us to examine a model that can be used to quantify the effect of various allocations to tax-exempts on after-tax income, dividend tax, the AAA account, and other factors.
Conference Presenters
Bruce E. Toppin, III is a partner with the law firm of Kennedy, Toppin & Sutherland, LLP in San Antonio, Texas. Mr. Toppin’s practice focuses on representing financial institutions throughout the United States on a wide variety of corporate, securities and regulatory matters including mergers and acquisitions, holding company formations, de novo charters, regulatory compliance, and Subchapter S corporation elections.
Mr. Toppin also presently serves as the Executive Director of the Subchapter S Bank Association. He is a frequent speaker at the Association’s Annual Conference and regularly contributes articles to the quarterly newsletter, the Subchapter S Bank Report.
Scot Boulton provides meaningful guidance to the clients of Polsinelli Shughart on simple and complex legal issues when they undertake their estate planning or are faced with the administration of an estate or trust. This guidance includes navigating the complex and often confusing provisions of the Internal Revenue Code that govern estate and gift taxation, generation-skipping transfer taxation, and income taxation of trusts and estates. He also assists in establishing and administering tax-exempt family foundations and other tax-exempt organizations.
Ed Krei is a Managing Director with The Baker Group, an investment firm based in Oklahoma City, specializing in investment portfolio services, asset liability management, and strategic planning for community based financial institutions. A frequent speaker at banking and investment conferences, Ed has spoken for the Federal Reserve Board of Governors, the OCC, OTS, NCUA, FFIEC, Conference of State Bank Supervisors, several Federal Home Loan Banks, and state banking and securities regulatory agencies.
He has served as faculty member of numerous banking schools, including the Graduate School of Bank Investments and Financial Management, the ABA National Commercial Lending Graduate School, and the Graduate Schools of Banking at SMU, Colorado and LSU.
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