Chess Moves for CFOs

Eliminating duplicate costs are a big part of a CFO’s job. Companies are spending money on bonding and benefits as they search for more efficient ways to manage cash flows, taxes, and costs. Most companies are required to have a strong balance sheet for bank covenants or bonding purposes and are missing an easy way… Read more »

Multiple Uses of Deferred Compensation Plans

With the improving economy, key employees that had been limited in other employment opportunities and resistant to look for new jobs are now willing to explore possible employment changes. Employers need well designed incentives to recruit and retain key employees.   Key executive deferred compensation programs are popular vehicles to motivate, incent, and retain key… Read more »

Small Banks Need to Retain Top Talent

Small Banks Need to Retain Top Talent   The banking industry is hungry for top talent. The big banks used to have sophisticated training programs, and they would run large numbers of fresh talent through them every year. Once these talented people were trained they either worked up the career ladder or moved to smaller… Read more »

Does Annual Pay BOLI Fit Your Bank Better?

With banks still fighting for good spreads and the threat of rising interest rates looming does annual pay BOLI make sense? Banks have been using BOLI for over thirty years as an effective tool for offsetting employee benefit expenses. Most institutions use a Single Premium Modified Endowment Contract (MEC) product to maximize returns. MECs are… Read more »

Fact Finding Uncovers LTC Case and More

Background: When, Executive Benefits Network, President, Joe B. Jones first met with a community bank prospect, he did not see the opportunity for an open case. The joint work partner was interested in placing bank owned life insurance, but it was quickly evident that they did not have capacity to add more BOLI at that… Read more »

Is Personal Communication Dead?

In today’s world of constant pressure for our time and attention has personal communication lost its value? There are over 380 influence attempts daily for the average person. It starts with the commercials on your alarm clock radio. It moves to the advertisements in your local or national newspaper. It is every eight minutes on… Read more »

Multiple Uses of Deferred Compensation Plans

With the improving economy, key employees that had been limited in other employment opportunities and resistant to look for new jobs are now willing to explore possible employment changes. Employers need well designed incentives to recruit and retain key employees. Key executive deferred compensation programs are popular vehicles to motivate, incent, and retain key personnel…. Read more »