I am attempting to write a business development plan. We are a small bank (five branches). The bank manager, our boss, wants it to consist of "how much" of "what" by "when". Is there a template anywhere that will help me? I've searched the internet, but most of what I find are business plans to start a new business. This plan is to develop and increase business in our branches.
A big part of our IT Security budget is spent on GLBA compliance. Are we doing something wrong?
How do you get Senior Management to buy into the serious need for business continuity planning, including the need to spend money for adequate back-up materials, filters, etc.? We recently were hit with a computer virus and were without internet for 4 days. We should have a back up method for that!
What position (head teller, loan officer, etc.) of the bank would be the best candidate for our BSA officer? Would it be our compliance officer?
What is a benchmark amount that banks use for their marketing budget? I'm looking for a percent of total assets or total income or something like that.
We have a mortgage originator in our mortgage division that would like to enter a co-op advertising agreement with a builder in a new subdivision. The bank would like to commit approximately $1000 each month for advertising as the subdivision's exclusive lender. The advertising will consist of ads on signs, billboards and fliers listing the builder, one realty company and one lender. The bank's advertising budget will be reflective of the ads, i.e. if one-fourth of a $400 ad, the bank will pay $100 for their section. However, in order to spend the money on the advertising, the bank would like to recover the costs of the ads by deducting a portion of the advertising from the originator's commission payment. I get nervous anytime you mention putting a realty company and a mortgage lender jointly in an ad, due to RESPA concerns. Would this situation fall under the exemption in Sec. 3500.14 (g)(vi)? I also assume that we would need an agreement with our originators for recovery of the fees from their commission.
Yardville National Bank stepped in to help a local community program that lost its government funding.
In Bankrate, one of the web sites I use for research, an article appeared this week that really caught my eye. The purpose of the web page is information for consumers.