As Senior Leadership teams in the banking industry approach retirement, developing the bank’s succession plan is critical. Equally as important is retirement planning, estate planning & key employee retention. In this webinar, EBN will discuss five key areas including succession planning that need to be addressed when looking at the future of the bank. Click… Read more »
Tax Reform Faces an Uphill Challenge
Many Americans are eager to enjoy the across the board tax rate cuts that President Trump promised so frequently during the election. There are numerous Republican law makers that have said their top priority is a large tax cut. House Speaker, Paul Ryan, and Ways and Means Committee Chairman, Kevin Brady, have prepared a detailed… 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 »
Common BOLI Objections
Bank-owned life insurance (BOLI) is not new. In fact, most of the nation’s largest banks, as well of thousands of community banks, have purchased BOLI – a life insurance policy written on the life of an employee. The purchase of BOLI is considered “best practice” and a common strategy to manage the escalating employee benefit… Read more »
An Unintended Consequence of Mergers and Acquisitions
A 2015 Gallup Poll highlights an unintended consequence of bank mergers and acquisitions: customer loss. The poll studies the impact of mergers and acquisitions and how they are affected by the concept of customer engagement. Customer Engagement, as defined by Gallup’s research, is based upon the answer to three key questions. Does the company always… Read more »
How Executives Minimize the Retirement Tax Hit – Plan Ahead
Nikki Kook – Marketing and New Business Make a plan for your large retirement payouts, such as stock awards and deferred compensation, at least one to two years before leaving. In addition, take inventory of short-term cash flow needs in retirement, such as health and insurance needs and exercised stock-option taxes. Lastly, always review the… 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 »
Our CEO had a heart attack…Now what?
With the recent news coverage of Oscar Munoz, the new chief executive officer of United Continental Holdings Inc. undergoing treatment at a Chicago hospital after suffering a heart attack, many people are reviewing what a loss of a senior leader could mean to a business and its value. They are reviewing the options available for… Read more »
Long-Term Care for Employed Spouses
Nikki Kook – Marketing and New Business You are the sole proprietor or partner of a business. Your spouse is a genuine employee of the business. A long-term care insurance plan can be set up and paid for by the business for the benefit of this employed spouse. In conjunction, the employed spouse’s spouse (AKA-… Read more »
Intentional Environment: (CAMELS Connections)
I get the privilege of traveling across the country every week calling on the great people in community banking. I have started to notice a direct correlation to the banks that have a trained staff welcoming customers when they walk in and their CAMEL ratings. CELS ratings or Camels rating is a supervisory rating system… Read more »