Inside Summer 2018

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What’s the cost of BSA/AML failures?
Avoiding penalties with a comprehensive program

Recent trends in Bank Secrecy Act / Anti-Money Laundering (BSA/AML) enforcement demonstrate how important it is for a bank to maintain a BSA/AML compliance program that’s commensurate with its risk. This article notes the steps required to maintain a comprehensive program and the penalties for failing to do so. The article also explains common compliance deficiencies, such as the failure to meet reporting and information-sharing obligations and to maintain adequate internal controls. A sidebar discusses how a community bank can conduct a risk assessment. Click for more >>

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How to develop a customer retention program

In the current competitive banking market, it’s important for community banks to recognize that customers need more than the typical products and usual services as an incentive to choose their banks over others. This article looks at the strategies banks can implement to help attract customers and retain them over time, including analyzing core deposits and encouraging front-line employees to engage in relationship building. The article notes that a bank that identifies, and meets, current and potential customers’ needs is likely to generate a stable customer base. Click for more >>

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CECL’s impact on bank acquisitions

As the effective date of the new Current Expected Credit Loss (CECL) model approaches, most banks are focusing on adoption of the new standard and making the changes necessary for a smooth transition. But for banks that plan to grow via acquisition, it’s also important to consider how the standard will affect their accounting for loans and other financial instruments acquired in these transactions. This article discusses CECL’s impact on acquisition accounting and the additional due diligence required. Click for more >>

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This summary of recent developments in banking looks at the Federal Deposit Insurance Corporation Improvement Act rules for banks with assets between $500 million and $1 billion, including the fact that such banks must provide audited comparative financial statements to the relevant federal regulator and comply with stricter auditor independence standards. The article also discusses whether marijuana businesses can provide opportunities for community banks, and lists some red flags for possible disaster-relief fraud. Click for more >>

Download Summer 2018 Now!

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