COVID-19 and the Impact on Allowance for Loan and Lease Losses

The COVID-19 pandemic has affected the way in which financial institutions operate and serve their communities. The Bonadio Financial Institutions Team has been constantly monitoring the changes brought on by the pandemic and its impact on financial institutions. We recognize that the impact of the pandemic is at the forefront of your mind.

Please listen as Jamie Card, CPA, and Aaron Kofira, CPA, discuss ALLL guidance and SEC quarterly filing observations amidst the COVID-19 pandemic.

The information and advice we are providing for this matter relates to COVID-19 legislative relief measures. Because legislative efforts are still ongoing, we expect that there may be additional guidance and clarification from regulators that could modify some of the advice and information provided to you, after the conclusion of our engagement. We, therefore, make no warranties, expressed or implied, on the services provided hereunder.