New Appraisal Guidelines Adopted for Appraisals and Evaluations

  • April 26, 2011

In December, federal financial regulators adopted the appraisal and evaluation guidelines that were originally issued for public comment in 2008. These new guidelines were issued in response to heightened concerns that arose regarding collateral appraisals and credit quality in the aftermath of the financial crisis.

Repeal of Reg Q – Competitive Strategy in a Post-Reg Q World

  • April 26, 2011

On July 21, a banking regulation on the books for nearly a century and considered by many to be one of the most antiquated laws will finally be repealed. That’s the date when Reg Q, which has prohibited banks from paying interest on commercial demand deposit accounts since the Great Depression, will officially become part of the history books. The repeal of Req Q comes courtesy of the Dodd-Frank financial reform bill passed last summer. The big question now is what will be the impact of this repeal on community banks?

Troubled Debt Restructures – What You Should Know About TDRs

  • April 26, 2011

In the current post-financial crisis lending environment, financial regulators are taking an especially close look at restructured small business loans. Most banks are working with at least some of their small business and commercial real estate borrowers to rehabilitate troubled loans by modifying loan terms and granting certain concessions.

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.