Esperanza's Transformation in 'A House of My Own'
Over the course of the book, Esperanza undergoes significant personal growth influenced by experiences and relationships on Mango Street and her innate personality traits. By the end, she evolves into a determined young woman aspiring for independence. Her journey symbolizes the struggles and aspirations of many immigrants.
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Presentation Transcript
Sioux Falls Estate Planning Council April 16, 2015 Division of Banking 1
SD Banking Profile State Chartered Institutions: 57 Total Assets: $21,473,657 Largest Bank: Great Western Bank, Sioux Falls ($9,636,848,000) Smallest Bank: Farmers State Bank, Hosmer ($21,573,000) Home Federal recently chartered as SD bank 2
SD Banking Profile SD Bank Charters vs. Bank Locations # of Locations # of Charters 90 450 80 400 70 350 # of Charters 60 300 # of Locations 50 250 40 200 30 150 3
SD Banking Profile Total Assets vs. Total Deposits $25 Billions $20 $15 Total Assets $10 Total Deposits $5 $0 4
Number of Banks by Asset Size Number of Banks 1 2 7 14 Under $50M $50M-$99M 2 $100M-$299M $300M-$499M $500M-999M $1B-4.99B 15 Over $5B 15 5
Composite Ratings - Banks Composite Rating Distribution 70 60 50 40 1 2 3 4 5 30 20 10 0 * 6
Trust Company Profile Billions Trust Companies $180 80 $160 70 $140 60 $120 50 $100 40 $80 30 $60 20 $40 10 $20 $- 0 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 Trust Assets # of Trust Companies 7
Trust Department Profile Billions Trust Departments $7 10 $6 9 $5 8 $4 $3 7 $2 6 $1 $0 5 02 03 04 05 06 07 08 09 10 11 12 13 14 Trust Assets # of Trust Departments 8
Public vs. Private Trust Companies 80 70 29 60 Total Trust Companies 28 26 50 22 40 30 47 41 20 38 34 10 2 0 1 2011 2012 2013 2014 Pending Private Companies Public Companies 9
Public vs. Private Trust Assets 180,000,000 160,000,000 140,000,000 120,000,000 Total Assets (000) 100,000,000 80,000,000 60,000,000 40,000,000 20,000,000 0 2011 2012 2013 2014 Private Companies Public Companies 10
Total Assets by Type 180,000,000 160,000,000 140,000,000 Total Assets 120,000,000 100,000,000 80,000,000 60,000,000 40,000,000 20,000,000 0 2011 2012 2013 2014 Custodial Assets Directed Assets Discretionary Assets 11
Trust Company Situs 30 26 25 22 19 20 # of Trust Companies 15 10 4 5 3 3 0 Active Presence Private Companies Contracted Presence Limited Presence Public Companies 12
Trust Company Composite Ratings 45 40 35 19 30 25 11 20 15 22 10 0 16 0 5 5 4 0 Strong Satisfactory Unsatisfactory Not Rated Private Companies Public Companies 13
Examination Statistics 35 7 30 6 25 5 # of Examinations 20 4 6 10 15 3 10 4 10 2 15 11 5 1 10 10 0 0 2011 2012 2013 2014 Private Exams Public Exams Full-Time Trust Examiners Out-of-State Exams 14
Trust Examiner Tenure Trust Examiner Tenure 6 5 10+ years 4 # of Examiners 3-10 years 1-3 years 3 <1 year Writing Exams 2 1 0 12/31/2011 12/31/2012 12/31/2013 12/31/2014 15
2015 Legislation DLR Banking Bills HB 1025 Bank Bill HB 1027 Money Lender Bill HB 1028 Money Transmitter Bill HB 1051 Trust Task Force Bill Other Bills of Interest to the Division HB 1084 Public Deposit Protection Commission HB 1209 Credit Card Notice of Change in Terms 16
2015 Legislation Cont. HB 1025 Bank Bill Sections 1-9 include form and style cleanup, cross- reference fixes, commission to director changes Section 10 changes notice process for failed banks Supported by Banking Commission 17
2015 Legislation Cont. HB 1027 Money Lender Bill Allows companies to license through NMLS Defines business of lending money Defines duration Exempts state and local political entities Moves renewal period to calendar year end Clarifies & enhances enforcement authorities Makes loans made by unlicensed entities partially void 18
2015 Legislation Cont. HB 1027 Continued Applies select portions of the Fair Debt Collection Practices Act to 1st Party Collectors Supported by Banking Commission HB 1028 Money Transmitter Bill Allows Money Transmitters to license through NMLS Supported by Banking Commission 19
2015 Legislation Cont. HB 1051 Trust Task Force Bill Sections 1-8 are Trust Company Specific Sections 9-20 make changes to Title 55 Sections 21-27 update Chapter 21-22 20
2015 Legislation Cont. HB 1051 Trust Task Force Bill Trust Company Sections 1, 2, 4 & 6 - General clean up 3 - Changed quorum to majority for governing board meeting requirement in SD for public trust companies 5 - Allows municipal bonds and other investments for trust company pledge to the Division 7 - Allows Division to share information with other regulators for removal and prohibition orders 8 - Requires charter dissolution within 30 days of sale/merger 21
2015 Legislation Cont. HB 1051 Trust Task Force Bill Title 55 Sections 9 & 10 - Creates a standard definition of beneficiary for use throughout Title 55 and removes a duplicate definition (other definitions still present) 11 - Cleanup 12 & 13 - Splits 55-1-36 into separate code sections 14 - Allows governing instrument to expand, restrict or eliminate certain trust and trust administration provisions (does not apply to provisions against self-dealing) 15 - Allows grantor to include arbitration language in trust document 22
2015 Legislation Cont. HB 1051 Trust Task Force Bill Title 55 Sections 16 - Clarifies trustee disclosure requirements related to investments in affiliates when court order or trust document requires affiliate investment 17 - Adds trust protector to the class of parties that can request a trustee be removed 18 - Raises the threshold for terminating noncharitable trusts from $50,000 to $150,000 19 & 20 - Adds LLC s to the definition of person in 55-4-1 and makes clear that any person in 55-4-1 can be a beneficiary or transferor in Chapter 55-16 (APT Chapter) 23
2015 Legislation Cont. HB 1051 Trust Task Force Bill Court Supervised Trust Sections (Chapter 21-22) 21 - Clarifies which parties to a court supervised trust are entitled to notice of court proceedings (creditor/claimant must have previously asserted a claim) 22 -26 - Provides to a trustor certain rights to intervene in any court proceeding related to a supervised trust and establishes procedures for resolving objections by interested parties and the waiver of notice in certain circumstances 27 - Applies the rules of civil procedure in Title 15 to any action brought under chapter 21-22 24
2015 Legislation Cont. Bills Watched by DLR - Banking HB 1084 Public Deposit Protection Commission Allows certificates of deposits owned by the bank to be pledged as eligible collateral to secure public deposits HB 1209 Credit Card Notice of Change in Terms Better aligns SD law with that of the CFPB 25
Looking Forward Possible Initiated Measure on Usury Division of Banking Guidance on Trust Service Offices Division of Banking Annual Trust Memo Situs Requirements for Public Trust Companies 51A-6A-11.1 requires full compliance on 7-1-15 Trust Task Force 2015 Possible Division Items Trust Company Resolution Fund Structure Public Trust Company Office Space Requirements Continued clean up of Chapter 51A-6A 26
Division Locations South Dakota Division of Banking 1601 N. Harrison Avenue, Suite 1 Pierre, SD 57501 Ph: 605-773-3421; Fax: 1-866-326-7504 1500 W. 51st Street, Suite 102 Sioux Falls (Currently being expanded) 27
