Case Study: Group Term Carve-Out for a Community Bank

The Challenge The Bank was looking for another benefit to reward and retain its leadership team. The Solution EBN implemented a Group Term Carve-Out (GTCO) and Short-Term Incentive Plan (STIP). The GTCO was originally placed on 16 individuals.  The GTCO “carves-out” a group of key employees from the group term life insurance plan and replaces… Read more »

Bank Nonqualified Benefit Plan Study

2019 Compilation of Nonqualified Benefit Plans The goal of this study is to provide useful information to the banking community and to reflect common market practices pertaining to Nonqualified Benefit Plans. This information is intended to provide guidance for banks and management to make decisions on these types of benefit plans and how they fit… Read more »

WHITEPAPER: Investing with Tight Liquidity

Management teams are responsible for ensuring that their company’s investments are getting the best returns. One investment option that they may consider is Bank Owned Life Insurance (BOLI) or Corporate Owned Life Insurance (COLI).  While BOLI/COLI can provide a variety of benefits, many companies with tight liquidity overlook life insurance as one of their investment… Read more »

WHITEPAPER: Group Term Life Insurance Carve-Out Plans

Employer-sponsored life insurance has traditionally played an important role in an executive’s pre-retirement planning for family and financial obligations.  Many view the group life insurance plans as a large part of their estate planning strategy.  Group life plans however, are not portable at retirement thus creating a void in the Executive’s planning needs.  A company… Read more »

Business Succession Planning

The Purpose of Succession Planning As the Senior Leadership teams in the business industry approach retirement, creating and developing the company’s succession plan is critical.  Along with creating a succession plan, it is important for key executives to plan for retirement. When retirement planning is ignored and not clearly communicated, even the most thorough succession… Read more »

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 »

Video: Compensation Planning in Today’s Talent Market

How do banks attract young employees and retain key executives? David Fritz Jr. and Patrick Marget of Executive Benefits Network explain that bank compensation plans should appeal to multiple generations and outline how Bank-Owned Life Insurance (BOLI) can offset compensation costs. Challenges in Attracting & Retaining Employees Focusing on Long-Term Incentives BOLI’s Role in Compensation… Read more »