Western Independent Banker - November/December 2008 - (Page 38)

and not just hope for the best. That’s done with attention to service and to risk management. Retention The best account acquisition efforts in the world are of little value if business spills out the back door as quickly as it’s coaxed in the front door. Today, the average bank sees 15 percent to 18 percent of customers leave to go to another bank. Top performing banks work hard and work smart to retain business by getting their services deep into customers. They fulfi ll the explicit and implicit promises they make. But they also get customers to do plenty of business with them. They sell multiple accounts to customers, based on their needs, and they encourage customers to actively use their accounts. Financial metrics, to be sure, provide boards and management teams with essen- tial information about a bank’s safety, soundness and progress. Returns to shareholders, however, depend on customer business and understanding what keeps customers coming back for more. Bob Giltner is a consulting partner for My Rewards® in Wilmington, N.C. (www. myrewards.net). He can be reached at 910-254-9383 x227 or at bobgiltner@ myrewards.net. IT’S A JUNGLE OUT THERE. Integrity. It’s who we are, what we do, and how we do it that makes us different. Discipline. Diligence. Use an experienced guide. LarsonAllen’s CPAs, consultants, and advisors are dedicated to providing quality results. Our industry specialists tailor our services to your needs. We offer a wealth of business resources to each of our clients. General controls | Network penetration | SAS 70 Audit | Tax services | Regulatory compliance DeNovo banks | Trust and ﬁduciary services Agility. Core Values. Trust. 800.682.1630 www.bancinsure.com By Bankers - For Bankers ©2008 LarsonAllen LLP 391384_LarsonAllen.indd 1 7/12/08 5:13:08 PM 372135_Bancinsure.indd 1 3/26/08 8:13:53 PM 38 380795_UMS.indd 1 4/29/08 9:27:04 PM 359575_Nationwide.indd 1 www.wib.org Western Independent Banker PM 1/16/08 8:40:45 http://www.myrewards.net http://www.myrewards.net http://www.bancinsure.com http://www.larsonallen.com http://www.umsbanking.com http://www.nationwidecompliance.com http://www.wib.org

Table of Contents Feed for the Digital Edition of Western Independent Banker - November/December 2008

Western Independent Banker - November/December 2008 Contents A Message from the President & CEO A Practical Approach to Director Evaluations Director Assessment: New Standards for a High Performing Director The Best of the West: Traits of High Performing Banks Best Practices Checklist for the Audit Committee The Real Performance Metric: It Takes a Balance of Profitability and Growth to Be Successful The Role of the Board in a Credit Crisis A Bank Director's Obligation to Be Aware of Regulatory Change Benefits Tied to Performance Receive Higher Approval Rating by�Board Members Increasing Shareholder Value: Key Profitability Drivers Board Portals Streamline Efficiency for 21st Century WIB Service Corporation Report WIB Calendar Welcome New Members Index to Advertisers advertiser.com

Western Independent Banker - November/December 2008

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