Regs Triggered Due to Increased Asset Size

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Question:

We will soon reach a total asset size of $500 million. Are there any regulations or requirements that will be triggered by this threshold?

Answer:

The biggest thing that is triggered is under FDIC Section363 for audit requirements. If you are a public company, you may already be addressing some of these issues through your Sarbanes-Oxley process. I don't know of anything else other than potential state law issues.

First published on BankersOnline.com 5/19/08