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, $158.7 million-assets, Hazlehurst, Miss. 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 $1,000 annually. Remedy 3: Board portals are key Sharon Burran, president and COO, Woodhaven National Bank, $413.2 million-assets, 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 million-assets, Memphis, Tenn. 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/ blog/5857.html April 2013 | ABA BANKING JOURNAL | 19 http://www.Box.net http://www.Box.net http://www.dropbox.com http://www.Box.com http://www.ababj.com/blog/5857.html http://www.ababj.com/blog/5857.html

Table of Contents for the Digital Edition of ABA Banking Journal - April 2013

ABA Banking Journal - April 2013
Contents
Chairman’s View
Editor’s Column
The Economy
Bank Notes
Picture This
ABA COMMUNITY BANKING Negotiating better contracts
Pass the Aspirin
Tech Topics
COVER STORY: Focus on risk Regulators raise the bar—big time!
RAROC architect’s views on risk
Top-performing big banks
Compliance Inbox
ABA At Your Service
Legal Issues
First Person

ABA Banking Journal - April 2013

http://www.nxtbook.com/naylor/BAKS/BAKS0515
http://www.nxtbook.com/naylor/BAKS/BAKS0415
http://www.nxtbook.com/naylor/BAKS/BAKS0315
http://www.nxtbook.com/naylor/BAKS2/BAKS1014
http://www.nxtbook.com/naylor/BAKS2/BAKS0914
http://www.nxtbook.com/naylor/BAKS2/BAKS0814
http://www.nxtbook.com/naylor/BAKS2/BAKS0714
http://www.nxtbook.com/naylor/BAKS2/BAKS0614
http://www.nxtbook.com/naylor/BAKS2/BAKS0514
http://www.nxtbook.com/naylor/BAKS2/BAKS0414
http://www.nxtbook.com/naylor/BAKS2/BAKS0314
http://www.nxtbook.com/naylor/BAKS2/BAKS0214
http://www.nxtbook.com/naylor/BAKS2/BAKS0114
http://www.nxtbook.com/naylor/BAKS2/BAKS1213
http://www.nxtbook.com/naylor/BAKS2/BAKS1113
http://www.nxtbook.com/naylor/BAKS2/BAKS1013
http://www.nxtbook.com/naylor/BAKS2/BAKS0913
http://www.nxtbook.com/naylor/BAKS2/BAKS0813
http://www.nxtbook.com/naylor/BAKS2/BAKS0713
http://www.nxtbook.com/naylor/BAKS2/BAKS0613
http://www.nxtbook.com/naylor/BAKS2/BAKS0513
http://www.nxtbook.com/naylor/BAKS2/BAKS0413
http://www.nxtbook.com/naylor/BAKS2/BAKS0313
http://www.nxtbook.com/naylor/BAKS2/BAKS0213
http://www.nxtbook.com/naylor/BAKS2/BAKS0113
http://www.nxtbook.com/naylor/BAKS2/BAKS1212
http://www.nxtbook.com/naylor/BAKS2/BAKS1112
http://www.nxtbook.com/naylor/BAKS2/BAKS1012
http://www.nxtbook.com/naylor/BAKS2/BAKS0912
http://www.nxtbook.com/naylor/BAKS2/BAKS0712
http://www.nxtbook.com/naylor/BAKS2/BAKS0612
http://www.nxtbook.com/naylor/BAKS2/BAKS0512
http://www.nxtbook.com/naylor/BAKS2/BAKS0412
http://www.nxtbook.com/naylor/BAKS2/BAKS0312
http://www.nxtbook.com/naylor/BAKS2/BAKS0212
http://www.nxtbook.com/naylor/BAKS2/BAKS0112
http://www.nxtbook.com/naylor/BAKS2/BAKS1211
http://www.nxtbook.com/naylor/BAKS2/BAKS1111
http://www.nxtbook.com/naylor/BAKS2/BAKS1011
http://www.nxtbook.com/naylor/BAKS2/BAKS0911
http://www.nxtbook.com/naylor/BAKS2/BAKS0811
http://www.nxtbook.com/naylor/BAKS2/BAKS0711
http://www.nxtbook.com/naylor/BAKS2/BAKS0611
http://www.nxtbook.com/naylor/BAKS2/BAKS0511
http://www.nxtbook.com/naylor/BAKS2/BAKS0411
http://www.nxtbook.com/naylor/BAKS2/BAKS0311
http://www.nxtbook.com/naylor/BAKS2/BAKS0211
http://www.nxtbook.com/naylor/BAKS2/BAKS0111
http://www.nxtbook.com/naylor/BAKS2/BAKS1210
http://www.nxtbook.com/naylor/BAKS2/BAKS1110
http://www.nxtbook.com/naylor/BAKS2/BAKS1010
http://www.nxtbook.com/naylor/BAKS2/BAKS0910
http://www.nxtbook.com/naylor/BAKS2/BAKS0810
http://www.nxtbookMEDIA.com