Our Practice

Strategic Planning & Development

During the turmoil of the past 18 months within the United States and abroad, particularly in the financial services industry, the Firm has played an active role in advocating at the state and national levels on such issues as the development of the TARP and numerous related regulatory and tax issues, and continues to serve as advocates for the interests of our clients, as well as all community banks throughout the United States.

In the new world of 2010, community bankers must take advantage of all available strategies to maximize efficiencies, reduce costs and take advantage of the myriad of government economic development initiatives on the local, state and federal levels. The Firm has experience in all of these areas and has developed a strong network of competent partners to accelerate its clients' opportunities for their benefit and for the benefit of their most creative customers.

The American Recovery and Reinvestment Act of 2009-which allocated approximately $787 billion of federal funds for various government programs and initiatives-provides numerous tax credit programs enabling community banks to increase and enhance investment in their respective communities. For example, the Build America Bond program provides a 35% tax credit or cash subsidy for any state, municipal or local public entity issuing bonds during 2010 in a qualified manner. Another example is the 35% tax credit or cash payment available to energy development activities, including wind energy, solar energy and other efficient forms of energy production.

State economic development programs such as the Texas Enterprise Fund, the New Products Development Fund and the Texas Capital Fund are examples of successful economic development initiatives that community banks can help their customers access for project development and expansion.

The New Markets Tax Credit is a highly successful program that can be utilized by community banks and can have a significant impact for communities, businesses and non-profit development organizations. The program in essence provides for a 39% tax credit for qualifying equity investments in qualifying business development activities, particularly in low- to moderate-income areas and rural communities.

Providing introductions, access and strategic assistance in these kinds of activities will enable the community banker to provide the appropriate leadership and vision necessary to survive and thrive in 2010 and the years to come.