PPP Loans and Capital

It is my understanding that if you do not take an advance from the PPPLF to fund PPP loans, you cannot deduct them from average assets.​

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Mark Miller
Chief Financial Officer/Chief Operating Officer
Community National Bank & Trust
Chanute, KS
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Original Message:
Sent: 04-22-2020 08:58
From: Timothy Foreman
Subject: PPP Loans and Capital

I have read the guidance from the regulatory agencies and it appears that we can exclude PPP loans from our average assets if we take an advance against the loans from the Federal Reserve using their PPPL program.  If you do not use the Federal Reserve to fund your PPP loans or only fund a portion of the loans through the Federal Reserve, then do you include the unpledged loans in your average assets?

Thanks,

Tim​

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Timothy Foreman
CFO
Axiom Bank, National Association
Maitland FL
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