Community BanksClient spotlight: BankingWe were asked by a $60 million bank to write a response to their regulatory exam. We helped this client identify and prepare a compelling written response to their examination findings. This enabled them to clearly articulate numerous positive achievements overlooked by the examiners; which more accurately presented their true financial condition. They now have the facts to support their profitability, liquidity, and capital resources that sheds a positive light on the specific areas criticized by their examination team. We know LeverageWhether you're a De Novo community bank or a well established bank holding company, you have to know what it takes to manage your balance sheet to leverage your capital. Your ALM modeling and customer profitability software is really designed to ensure you have adequate net-interest margins and earn appropriate fees for the services you provide to your customers - and make an adequate profit. We act as both your accountants and management consultants to help you do just that. For example, we have a client who was not paying enough of an earnings credit to an otherwise profitable escrow account. As a result they were in danger of losing their existing account relationship and were unable to attract similar business accounts. We helped this bank identify and design an appropriate suite of products and services to not only retain the escrow cash deposits but also expand the service to other customers. Make Strategic DecisionsWe can help you make informed capital decisions. If your balance sheet has outgrown your capital, for example, we'll consider the things you need to make a financially sound choice about adding to capital-whether you should complete a common stock offering, slow down your rate of growth, or add a new fee income producing business segment such as mortgage banking. Or perhaps it's time to build a larger branch or invest in a new branch location: What is the breakeven point for the new branch? When will it be considered a profitable endeavor? Will the investment provide a benefit to stockholder value? By analyzing growth projections and applying a branch profitability analysis to your plans, we can help you make smarter financial decisions now to improve your profitability in the future. We'll advise you on complicated transactions too, such as mergers and acquisitions, buy/sell agreements, and even how to structure your business to manage your risks and tax liabilities. Keeping up with RegulationBankers are heavily regulated by federal and state authorities and there is no sign of this burden easing up anytime soon. If you work with Shannon & Associates you'll come to know that we realize it is our job to assist you with your regulatory burden, not add to it. From internal audit and regulatory compliance assistance to formally responding to regulatory mandates; we have developed a support network to help you keep up with the complex mound of regulation. Our audit approach is also designed to recognize the considerable amount of scrutiny you receive from examiners, portfolio loan reviewers and others. This approach lets us focus on areas of risk - not regulation - which translates to a lower burden on you. At Shannon & Associates we are prepared to serve the audit, tax and consulting needs of community bankers with the straight forward approach only available from a local, community based CPA firm. We know and understand the challenging economic times you are facing and we are able to help you by un-complicating the audit process and providing hands-on assistance wherever you need it most. We provide our clients with a "business practices perspective" gained by serving more than 450 small and middle-market business clients throughout Washington State. We earn the trust of our clients by being accessible, providing timely business advice, and by focusing on simple solutions instead of following regimented processes dictated by some distant "administrative office" that is typical of the larger firms. |
