With the requirement now being that institutions have to calculate the CECL allowances for all amortizable financial assets, it can be challenging to ensure the accuracy of the purchase price and to complete the proper accounting for credit risk. This whitepaper provides insights on how bank mergers and purchasing of loan pools and HTM securities (financial assets) have been impacted by CECL. Discover strategies for before, during, and after a merger or purchase, and learn how to navigate the new landscape of accounting standards.
About The Author
Mike has been providing accounting, consulting and auditing services to financial institutions for over 30 years. Considered the “CECL Guru”, Mike was selected by the AICPA to create and deliver their 8-hour CPE course on CECL. He is a past member of the Auditing Standards Board and a published author on Accounting and Auditing for Financial Institutions. Mike has spoken at numerous AICPA conferences as well as other national and local financial institution associations. Mr. Umscheid is also the author of the 8-hour CPE course published by the AICPA for CECL.Mike is currently the President and CEO of ARCSys, a consulting firm that specializes in Allowance for Credit Loss software and CECL. He graduated from Virginia Polytechnic Institute and State University in Blacksburg, Virginia. Mike enjoys working out in the morning before work and loves to cook for his family and friends.