Opportunities and Risks: Banking the Legal Cannabis Industry in Mississippi
presented by Green Check Verified
October 6, 2022
2 pm - via Zoom
Mississippi's Medical Marijuana industry is taking shape following the passing of SB 2095, which was signed into law February 2nd, 2022. As of the end of August a small number of medical providers, patients and businesses have been approved by the Mississippi Dept of Revenue, with 104 being dispensaries. The Mississippi Department of Health has already approved 14 Cultivation Facilities, 3 Waste Disposal Licenses, 4 Micro Cultivation Facilities, 5 Processing Facilities, and 3 Transportation Entities. According to MJBIZ Factbook, Mississippi is projected to generate sales of $265 million the first year, rising to $800 million by the fourth year. This activity ushers in a new opportunity for Mississippi financial institutions to take advantage of a new wave of cannabis businesses and the ancillary businesses that support them.
Accordingly, on Thursday, October 6, Green Check Verified will present “Cannabis Banking in Mississippi: Market Overview and Fundamentals,” a complimentary, one-hour virtual presentation and panel discussion that arms Mississippi bank professionals with the knowledge they need to engage with the legal cannabis industry in Mississippi.
Presented by Green Check Verified subject matter experts — with experience building and scaling cannabis lines of business with over 100 U.S. financial institutions —this two-part educational event covers the following topics:
Session 1: The Fundamentals of Cannabis Banking
● Essential terminology: cannabis/marijuana/hemp, THC/CBD
● The cannabis market opportunity in the US
● The cannabis market opportunity in Mississippi
● Defining cannabis businesses and identifying their needs
● Federal and state cannabis law, guidance, and regulations
● FinCEN’s 2014 marijuana banking guidance: what you need to know
● Locating and onboarding cannabis businesses
● Ongoing monitoring and working with your examiner
● Case Study: Quantifying Risks and Rewards - Financial Modeling and Risk Assessment Exercise
Session 2: Special Considerations in Mississippi
The Mississippi legal cannabis industry comes with its own particular challenges and opportunities. In this session, we will explore the current state of the Mississippi cannabis market; where that market is headed; and what financial institutions in Mississippi need to understand to grow with this industry safely and effectively.
Q&A - Takeaways
● Copies of all presentation materials
● A cannabis banking policy template
● A copy of the sample financial model
● A copy of the sample risk assessment questions
● 90-day access to a recording of both sessions
Audience
● Board members
● CEO
● CFO
● Compliance and risk officers
● Branch operations managers
● Business development teams
● Lending officers
● Marketing and communications teams
Presenters
Paul Dunford is Co-founder and VP of Knowledge at Green Check Verified. Paul has extensive experience leading digital transformation initiatives predominantly in the healthcare and retail verticals. Previously he was retained by a Fortune 100 insurance company to design and implement a sophisticated solution for managing their field sales teams. At Green Check, Paul leads the compliance team that designs cannabis banking programs for financial institutions. Paul is an active member of the cannabis banking regulatory community, contributing to trade publications and speaking virtually and in-person across the country on the subject.
Stacy Litke is VP of Banking Programs at Green Check Verified with decades of experience in the financial services industry. Time spent in retail, lending, operations, and technology — and from the seats of a community banker, fintech executive and consultant — has provided Stacy with a comprehensive view of the industry. Prior to joining Green Check, Stacy was SVP of Operations for a Massachusetts based, $900 million institution. Today, she uses her collective experience to help financial institutions with compliant cannabis banking programs.
CANNABIS BOOTCAMP
REGISTRATION FORM
BANK/COMPANY NAME:_________________________________________
REGISTRANT NAME:____________________________________________
BANK ADDRESS:______________________________________________
PHONE NUMBER:______________________________________________
CELL NUMBER:________________________________________________
EMAIL ADDRESS:_______________________________________________
____ $99 for Member Banks
PAYMENT:
_____ Please invoice (please pay by September 29)
_____ Please charge my credit card below (*please know a 4% convenience fee will be added)
____Please send an ACH form
TO REGISTER: Scan & Email to lrichardson@msbankers.com
QUESTIONS: Contact Lori Richardson by calling (601) 709-3736 or emailing to the address above.
Credit Card Information
Name on Bank Card______________________________________________
Credit Card Number_____________________________________________
Expiration Date___________________________CVV___________________
Billing Zip Code_____________________________________