ABA Banking Journal - April 2013 - (Page 19)
Pass the asPirin
The BAnker-TO-BAnker exChAnge
The Headache: Finding solutions to time pressures on your board
We asked prescribers what new efforts and remedies they’ve tried for directors and trustees. Many have gone for
variations on iPads and portals, and some have made changes to meeting structure.
Remedy 1: Get iPads and Apple TV
Jane Haskin, president
and CEO, First
Bethany Bank and
Trust, $219.4 millionassets, Bethany, Okla.
For the past 15 months, we’ve
been using iPads for all bank
board meetings. This has provided
a significant savings by not having to copy an entire packet of
board documents each month. In
the beginning, we had a difficult
time coordinating which page was
being discussed during meetings.
Our IT department came up
with a wonderful solution. We
have a large television in the
boardroom for presentations.
Apple TV was added for about
$100. This allows anyone in the
meeting to share a page on the
television and discuss it. Directors
can follow the meeting on their
iPads or the television.
If a bank wanted to purchase
only one iPad, it could use Apple
TV and a television in the boardroom for presentations.
Remedy 2: Combine iPads, Dropbox
George Marx, chairman, president, and
CEO, Copiah Bank,
Change is good, and you can
teach an old dog new tricks. My
directors thought paper information was absolutely necessary.
From October 1891 through
March 2012, all board and
bimonthly loan committee packets
used at my bank were paper.
In October 2011, I broached
the subject of electronic board
and loan committee packets. I
had to swim upstream for awhile.
Thankfully, we all came together,
and in March 2012, we provided
all board members with iPads.
That April, our initial paperless
board and loan committee
meetings were held, and we have
never looked back.
Documents and information are
scanned and uploaded to a secure
field in dropbox.com, which uses
iCloud technology. A local IT firm
gave us a way to upload securely—
at a cost of about $1,000. This
allows our directors and loan
committee members to receive the
information about 18 hours prior
to meetings. Our meetings are
much smoother and efficient, and
our directors are better prepared.
Our ongoing costs are about
Remedy 3: Board portals are key
president and COO,
Fort Worth, Texas.
Board reports continued to
increase in size, exceeding 200
pages—even when printed on the
front and back of each page. The
amount of paper we were using
and the time it took to compile
the information into binders
was excessive. So, we purchased
an iPad for each director, plus
a board portal that allows our
members to securely view each
document in the board report.
Our directors quickly got used
to the iPads, and now are really
enjoying them, as they are able to
access other iPad applications.
This approach has worked so
well that we are customizing the
portal—Web@Work, from CSI
(Computer Services, Inc.)—to
conduct our loan committee
meetings, as well as serve as an
intranet for our employees.
Remedy 4: Box.net moves data fast
Marcia Honomichl, president and
CFO, Commercial State Bank,
$127.1 million-assets,Wagner, S.D.
Our latest change with the
board was going to electronic
board packets with Box.net
(also known as Box.com). It
not only saves trees, but makes
our meetings more efficient,
with more information available
to directors. Information is
accessible to directors earlier to
allow them to review material in
more depth. Questions may be
posted prior to meetings, which
helps with more detailed answers.
Remedy 5: Merge committees
Will Chase, CEO,
Triumph Bank, $398.8
We have combined
our ALCO and investment
committees. This will provide
better integration of investment
plan goals and funds inflow and
outflow, and better maturity
management of loans and
securities combined. We now have
one two-hour meeting per quarter,
as opposed to two meetings of
about one and one-half hour each.
We place all board and board
committee meeting materials in
a cloud server. We still print a
few summary pages, but that’s it.
Directors receive information in a
format they can review from any
internet connection. We archive all
data (including minutes). Administrative staff no longer spend
hours inserting and/or removing
paper from three-ring binders!
Find more answers on this topic
from Larry Myers, Frank Campbell, and others at www.ababj.com/
ABA BANKING JOURNAL
Table of Contents for the Digital Edition of ABA Banking Journal - April 2013
ABA Banking Journal - April 2013
ABA COMMUNITY BANKING Negotiating better contracts
Pass the Aspirin
COVER STORY: Focus on risk Regulators raise the bar—big time!
RAROC architect’s views on risk
Top-performing big banks
ABA At Your Service
ABA Banking Journal - April 2013