Wireless Security – How to Protect Your Network

  • March 1, 2011

Isn’t wireless technology the greatest? I think I have a total of 10 wireless devices attached to my wireless network at home. I use my notebook to browse the web, I use my phone to send emails and texts, my son’s Xbox, I even print to a wireless printer. I wonder if The Whitlock Co knows I use my notebook on this network (Oops!)? Actually, we have followed the guidelines listed below to ensure The Whitlock Company's risk is reduced to none. How many businesses have notebook computers or other wireless devices that wonder into the wireless world without so much as even a guideline for them to follow? Whether it is an employee using their notebook on their unsecured wireless network at home, using it at a public hotspot like Panera Bread or using it at a hotel when they are on the road. All of these locations are security risks.

Preparation Through Disaster

  • February 1, 2011

written by Chris Griesemer I am looking out the window at the enormous amounts of snow falling. Am I thinking how...

Is Adobe or Java Software Making Your Business Vulnerable to Hackers?

  • January 21, 2011

We have performed vulnerability exams for banks for the past 11 years. What are vulnerability exams? I’m glad you asked that question. Basically we use special software to scan all nodes (computers, firewalls, servers, printers, ect.) for vulnerabilities on a network. An example of an especially high risk vulnerability might include a patch not being installed on a computer, passwords less than 8 characters or default administrator usernames still being used.

Final FASB Disclosure Guidance Issued

  • January 11, 2011

Last July, the FASB issued new disclosure guidance significantly expanding existing financial statement reporting requirements for both public and private companies in the U.S. ASU 2010-20, Disclosures about the Credit Quality of Financing Receivables and the Allowance for Credit Losses, is effective for both interim and annual reporting periods ending after December 15, 2010, for public companies and after December 15, 2011, for private companies.

Impairment Testing and Fair Value Measurement

  • January 11, 2011

Banks today are continuing to deal with a high volume of substandard and problem loans. Part of the process of dealing with these loans is testing them for impairment. ASC 310-40 requires loans to be tested for impairment if the bank determines, based on the facts and circumstances surrounding the local market, the loan won’t be re-paid in accordance with the contracted terms and conditions.

How to Spot Problem Loans — and Know What to Do

  • January 11, 2011

Nearly three years after the onset of a financial crisis that will be remembered as one of the worst in our nation’s history, many banks are still dealing with the ongoing fallout. They continue to face rising levels of delinquencies, substandard loans and problem credits in their commercial loan portfolios.

HMDA and Commercial Loan Refinancing

  • October 19, 2010

If you’re a commercial lender, you can be forgiven for wondering what, if anything, the Home Mortgage Disclosure Act, better known as HMDA, has to do with commercial loans. HMDA, which was enacted by Congress in 1975 and implemented by the Federal Reserve Board’s Regulation C, requires banks to maintain and annually disclose data about home purchases and refinance applications. This data is then used to help regulators determine whether the bank is serving the housing needs of their communities and identify possible discriminatory lending patterns.

Portfolio Management Strategies – Monitoring Borrower Concentrations and Covariance

  • October 19, 2010

We all know better than to put all our eggs in one basket. Unfortunately, many banks ignored this time-tested wisdom when it came to constructing their loan portfolios, contributing to the financial crisis and credit crunch of the past few years. Specifically, these banks allowed high concentrations of risky types of loans to build up in their portfolios without considering the potential impact on the bank should things turn south.

Financial Reform: What Will it Mean for Community Banks?

  • October 19, 2010

This summer, the most comprehensive overhaul of the financial services industry since the Great Depression was signed into law: the Dodd-Frank Wall Street Reform and Consumer Protection Act. Passage of the Act was just the beginning, though, as many of the implementation details must still be ironed out by regulators. But at first glance, the Act appears to be a mixed bag for community banks, with some potential benefits and some drawbacks.