Thanks Dawn. Are you using straight line or interest method?

________________________________
On: 18 June 2020 08:02,
"Dawn Hathaway" <xxxxxx@YourCovenantBank.com<mailto:xxxxxx@YourCovenantBank.com>> wrote:

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Yes we are adding a FASB fee and cost to each PPP loan

Dawn Hathaway
Senior Vice President
Loan Administration Officer

P: (267) 337-6829  •  F: (267) 880-0155   •  M: (609) 206-9185
60 N. Main Street  •  Doylestown, PA 18901
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From: xxxxxx@marug.simplelists.com [mailto:xxxxxx@marug.simplelists.com] On Behalf Of Ruth E. Daniels
Sent: Thursday, June 18, 2020 7:56 AM
To: xxxxxx@simplelists.com
Subject: [BULK] SilverLake MA-RUG RE: PPP Loans - Fees and Costs

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Maria

Are you adding a FASB record to each PPP loan you booked?   If not how are you doing this?

Ruth E Daniels
Vice President – Credit Administration
The Dime Bank
120 Sunrise Avenue
PO Box 509
Honesdale PA  18431
570 253 6511 X 7713
xxxxxx@thedimebank.com<mailto:xxxxxx@thedimebank.com>

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From: xxxxxx@marug.simplelists.com<mailto:xxxxxx@marug.simplelists.com> <xxxxxx@marug.simplelists.com<mailto:xxxxxx@marug.simplelists.com>> On Behalf Of Maria Reichart
Sent: Wednesday, June 17, 2020 4:23 PM
To: xxxxxx@simplelists.com<mailto:xxxxxx@simplelists.com>; 'xxxxxx@marug.simplelists.com' <xxxxxx@marug.simplelists.com<mailto:xxxxxx@marug.simplelists.com>>
Subject: SilverLake MA-RUG RE: PPP Loans - Fees and Costs

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Hello,

After several conversations and by recommendation of our accounting firm we elected to defer the SBA PPP fees from the get go. We are using the deferred fees option in Silverlake using the Straight Line Method.

Hope this helps!

Maria Reichart
Vice President, Loan Administration Officer
Our mission is your success.
Shore United Bank | 28969 Information Lane, Easton, MD 21601
Office: 410-763-8289 | Mobile: 410-310-1213 | Internal: x21049
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From: xxxxxx@marug.simplelists.com<mailto:xxxxxx@marug.simplelists.com> <xxxxxx@marug.simplelists.com<mailto:xxxxxx@marug.simplelists.com>> On Behalf Of Linda Muffoletto
Sent: Wednesday, June 17, 2020 3:12 PM
To: 'xxxxxx@marug.simplelists.com' <xxxxxx@marug.simplelists.com<mailto:xxxxxx@marug.simplelists.com>>
Subject: SilverLake MA-RUG PPP Loans - Fees and Costs

Hi all  - just wondering how everyone is handling the fees and costs for the Payroll Protection Program loans?  We were originally planning on handling them on a cash basis since it was only going to be 8 weeks.  Now that the time has extended, it looks like we will need to defer them. Are you using the deferred fees/costs in Silverlake?  What method of amortization are you using?

Thanks, Linda

Linda A. Muffoletto
Executive Vice President & Chief Operating Officer
Rosedale Federal Savings & Loan Association
9616 Belair Road
Baltimore, MD 21236
(P)410.668.4400 ext. 313
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