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Our 2017 Bank Compensation Survey
Results coming September 27th





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August 17, 2017

A publication of Fortner, Bayens, Levkulich & Garrison, P.C.

 Upcoming Events

ICBA Credit Analyst Institute
Nashville, TN
Aug 20-23, 2017

TX TBA Bank Director School
Richardson, TX
Aug 24-26, 2017

ICBA Bank Security Institute
Minneapolis, MN
Sep 10-13, 2017

MO MIBA Annual Convention & Expo
Lake Ozark, MO
Sep 11-13, 2017

 AICPA National Conference on Banks & Savings Institutions
Sep 11-13, 2017

OK CBAO Annual Convention
Oklahoma City, OK
Sep 13-15, 2017

 27th Annual CBW Convention & Trade Show
Tulalip, WA
Sep 13-15, 2017

IA 2017 Annual Convention
Des Moines, IA
Sep 17-19, 2017

CO IBC 44th Annual Convention
Vail, CO
Sep 20-22, 2017

ABA Bank Marketing Conference
New Orleans, LA
Sep 24-26, 2017

ICBA/NM Lenders Conference
Albuquerque, NM
Sep 26-27, 2017

WY WBA 2017 Credit Conference
Laramie, WY
Sep 28-29, 2017

TX IBAT 43rd Annual Convention
Austin, TX
Sep 30- Oct 3, 2017

2017 Independent Bank Compensation Survey - Last Day August 18th

We are currently in the process of collecting data for our annual Independent Bank Compensation Survey. This is the 29th consecutive year that our firm has been conducting the survey. Many of you are long-time participants and we welcome your participation again this year.

This survey should provide valuable compensation information to you, including:
• Your bank’s executive staff along with key operations, lending, IT and compliance positions.
• Average compensation levels for branch managers, teller, customer service and other positions.
• Directors’ compensation including both inside and outside directors.
• Information regarding bonus and benefit plans and health insurance.

What makes our service so unique is the customized survey results that you can request. These consist of a series of reports that compare your data with other banks in your peer groups.

We’re also having a drawing of survey responses. The winner receives a $500 Amazon gift card!

This survey may be completed anonymously; however, every bank that participates and includes contact information will receive Customized Survey Results that contain peer comparisons by state, type of community and asset size. We survey results will be published by mid-September. All of our reports are free of charge.

You can complete the survey online by clicking here.

Your Network Is Under Attack. How Do You Respond To The Threat?

By Keith Ferguson, CISA, CISSP, CRISC

Incident response handling procedures are crucial and will continue to be necessary as long as there are viruses/worms, hackers, crackers, phishers, disgruntled employees and script kiddies.
An incident can be defined as any irregular or adverse event that occurs on any part of your banks network and network appliances. Examples of security incidents include:

  • The discovery of a virus that has infected your system(s),
  • Activity log file alerts that tell you someone who is not authorized is trying to log into your network, or has logged into your network system,
  • You notice that an unknown process is running on your system and utilizing a great deal of processor time,
  • Your intrusion detection or intrusion prevention system is alerting you to someone trying to penetrate the system remotely.

To read more, click here.

Recruiting Millennials into the Banking Industry

By Wesley K. Compton 

As fall approaches we at FBLG are gearing up for another “accounting recruiting season” in order to secure the newest and brightest talent that will help us best serve our clients. A best practice succession plan includes an adequate strategy for recruiting and retaining talent. This is more important than ever in the banking industry as nearly half of all banks surveyed in a 2016 bank compensation survey believe senior executives will be retiring in the next five years as well as 31% replied that CEOs were expected to retire within the next five years. Additionally, 43% of banks surveyed believe there aren’t enough talented commercial lenders in their market making it tough to increase revenue.

Unfortunately, many banks are struggling to hire what some would call the most finicky generation yet, the millennials. One third of the banks participating in the compensation survey reported that they are actively seeking millennials but are having trouble attracting talented employees. The highest percentage of banks responded with this were banks with less than $250 million in assets (43%). Another third replied that hiring millennials is not a focus for their bank. However, there are many reasons that hiring millennials should be part of a bank’s focus.

 To read more, click here.

Is Major Tax Reform Coming in 2017?

By Mark J. Corey, CPA, JD 

Recently, a statement was released by the so called “Big Six” leaders of tax reform. These leaders represent both Congress and the White House in top level government positions. Those in the Big Six group include Paul Ryan, Speaker of the House of Representatives, Mitch McConnell, Senate Majority Leader, Steven Mnuchin, Treasury Secretary, Gary Cohn, National Economic Council Director, Orrin Hatch, Senate Finance Committee Chairman and Kevin Brady, House Ways and Means Committee Chairman.

The statement released by the Big Six reiterated the goal for Congress to draft significant tax reform by the end of this year. The group also assured Americans that it is meeting regularly to formulate specific tax changes that will “protect American jobs and make taxes simpler, fairer, and lower for hard-working American families.”

To read more, click here.

FDIC Proposes Changes to Appraisals for Commercial Real Estate Transactions

By Michael Kurtz, CPA 

In late July, the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System and the Office of the Comptroller of the Currency issued proposed rule changes for the appraisal threshold for commercial real estate transactions. Under the proposal, titled Real Estate Appraisals, they would increase the appraisal threshold for commercial real estate transactions from $250,000 to $400,000. The following points were taken from the summary of the proposed changes: 

To read more, click here.