| A Community Bank Director Advisor | Issue #21 - March 2009 |
|
If you are
having some sleepless nights as a bank director, and wondering
whether your D&O insurance is actually doing what you
think it is, your bank can take advantage of a WIB Member’s
Only service to review your bank’s insurance, including your
D&O insurance. The
value of this review is $5,000 and is complimentary to member
banks. If you have
received a non-renewal notice or unacceptable terms on your
renewal, you may want to contact.
This service is provided by Independent
Bankers Insurance Services,
(IBIS) a WIB-endorsed Value and Income Partner.
Please call or email Pat Corey @ (480)
663-3778 (Pcorey@ibisinsurance.com).
Nancy
Sheppard Community
Banking: Back to Basics or Back to Reality As we enter
2009, the focus by many directors of community banks from a
strategic planning standpoint is not so much what do we want
to do over the next three years as much as it is how do we
survive today and get to tomorrow. A common theme by boards of
directors is that in 2009 the bank would get “back to
basics”. It is arguable that this “back to basics”
approach is really one of getting back to reality. Set forth
are some practical ways boards can meet this goal in 2009. Current
Regulatory Hot Spots At AuditOne, we feel it is healthy for the banking industry to receive timely information on trends in regulatory scrutiny. This article discusses the most recent topics of scrutiny we’ve been seeing in examination reports. < read more > Fallout
Shelter: Bailout Tops Bankers’ List for Surviving the
Economic Crisis In an economic environment that has driven seemingly indestructible institutions to shutter their doors, banks have been faced with finding new ways to stay afloat. A lifeline was tossed with the advent of the Treasury’s Troubled Asset Relief Program (TARP) and its Capital Purchase Program (CPP), and most recently, the Financial Stability Plan. Almost half of the bankers polled in Grant Thornton and Bank Director’s 16th Annual Bank Executive Survey expressed an interest in participating in the earlier two rescue programs as a way to address the credit crisis and subsequent consolidation in the financial services industry. How will banks benefit from the bailout? What else are banks doing to weather the storm? < read more > Dilute
the Coffee, Not the D&O Insurance It is no
surprise that as the economy worsens community banks are
instituting numerous cost-cutting measures. Indeed, we may be
beginning to see some privately held community banks dilute,
or even cancel, their Directors and Officers (D&O)
coverage in an effort to cut costs. Given the current
environment, it may become more important than ever to ensure
you have comprehensive D&O coverage. Strategy
102: Part V – Telling Your Story; Perceptions Management In today’s world of economic crisis, intensified competition as banks struggle to survive, and the absolute necessity of protecting existing customer relationships (especially the top 10 percent) and acquiring profitable new customer relationships, the need for marketing that is truly strategic is a critical success factor as never before. Strategy 102: Part V will discuss advertising and branding, and why they can only be effective if they are built on a solid foundation of Strategic Focus, Customer and Competitor Intelligence/Research and superior Value Propositions. < read more > Being
a Leader Does Not Have to be Tough: Designing an Effective
Risk Management Program Risk innately increases as a financial institution grows and realizes its goals. Simultaneously, recognizing and controlling risk is essential to cultivating success. Thought leaders in today’s financial institution industry are consistently looking to enterprise risk management to guide current practices and create carefully designed plans for new business opportunities. < read more > |
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