Andy Sigl (center), a Partner with Wipfli CPAs & Consultants in St. Paul, Minnesota, discusses banking issues with Randy Bobholz (left), President & CEO of Farmers & Merchants Union Bank in Columbus, and Jim Cooley (right), President & CEO of Citizens Community Federal Bank in Eau Claire. Bobholz and Cooley both served on the CEOnly/CFOnly Advisory Board, which created the networking and idea exchange.
Jefferson Street Inn - Wausau
Wednesday, June 24, 2009
The CEO and CFO members attending had a full slate of discussion topics that covered the gamut of issues facing bankers today:
- Recent bank exams – what are the hot issues?
- Foreclosure attorney fees
- NIM – loan and deposit pricing
- FDIC assessment – how are you dealing with the increase?
- Regulatory issues – what’s keeping you up at night?
- External audit costs
- Banking associations – who do you belong to/how many do we need?
- Online banking issues - costs, etc.
- Who do you use to facilitate your strategic planning
- Email archiving – are you doing it? What is your retention time, storage, any other information that would help us
- Originating ACH for payrolls. Contracts between bank and employer. Liability to bank – any problems with the system?
- Combined reporting – does the cost outweigh the benefits? Anyone still have a sub?
- Management succession protocol
- How do you handle sweep accounts – for example: overnight repos. What software are you using? Anyone using Intrasweep?
- Any new funding options in the market
- How are you using online account opening applications?
- How are banks dealing with the new mortgage laws specifically the pricing restrictions?
Following the networking breakout sessions, the group enjoyed a presentation by Andy Sigl, a Partner with Wipfli CPAs & Consultants in St. Paul, Minnesota. Andy shared a wealth of information with the group covering our state and nation economy yesterday, today and tomorrow and how it has and will affect community banks in the future. He was kind enough to share the data he used in his presentation.
Minutes from this meeting.
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