Cannabis Banking in Mississippi: Market Overview and Fundamentals

WEBINAR

Thursday, October 6, 2022 2 PM CST | 90 Minutes

Mississippi’s Medical Marijuana industry is taking shape following the passing of SB 2095, which was signed into law on 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 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 in the first year, rising to $800 million by the fourth year. This exciting time 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 October 6th, Green Check Verified will present “Cannabis Banking in Mississippi: Market Overview and Fundamentals,” a complimentary, 90-minute 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

Presented By

Paul Dunford

Co-Founder and VP of Knowledge
Green Check Verified

Paul is a co-founder of Green Check Verified, where he is the VP of Knowledge. Paul oversees the development and management of compliance programs for Green Check Verified’s clients, with a focus on state-level compliance as well as compliance around federal guidance.

Stacy Litke

VP, Banking Programs
Green Check Verified

Stacy Litke is a cannabis banking expert at Green Check Verified, who believes every cannabis business deserves the ability to bank confidently and every community bank deserves a chance to grow with that industry. Stacy has seen the financial services industry from multiple angles having experience in Retail, Lending, Operations and Technology, from the seats of Community Banker, FinTech Company and Consultant. Prior to joining Green Check, Stacy was SVP of Operations for a Massachusetts based, $900 million community bank.
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