ABA Banking Journal - June 2010 - (Page 12)

bank notes GALVESTON, TX - SEPTEMBER 21: Workers prepare to remove a sailboat washed up onto the edge of the highway into Galveston by Hurricane Ike September 21, 2008 in Galveston, Texas. The city announced yesterday that most residents would not be allowed to return to their homes before Wednesday September 24. (Photo by Scott Olson/Getty Images) With disasters, forbearance is OK Examiners take FDIC guidance to heart, but it’s still a judgment call Despite the hotly discussed disconnect regarding what regulators in Washington tell bankers, and what field examiners do, there’s at least one area where the two tend to agree—guidance after natural disasters. After most major disruptions, FDIC sends out financial institution letters advising banks in the affected areas to “work constructively with borrowers who are experiencing difficulties beyond their control.” Conversations with bankers along the Texas Gulf Coast indicate that for the most part, field examiners take such guidance to heart. In September 2008, the Texas coast was slammed by Hurricane Ike, a category 2 storm 435 miles wide that pushed 10-14 feet of water over the barrier islands. “We had tons of businesses affected,” says Victor Pierson, president of Moody National Bank, Galveston. “I would say that our regulators acted in both the letter and the spirit of the guidance and allowed us to work with our borrowers,” Pierson says. Key to that cooperation was the communication the bank maintained with the examiners. 12  |  ABA BANKING JOURNAL  |  june 2010

Table of Contents for the Digital Edition of ABA Banking Journal - June 2010

ABA Banking Journal - June 2010
Contents
Chairman’s View
Editor’s Column
The Economy
Bank Notes
When “Plans” Go Awry
Tech Topics
Pass the Aspirin
Cover Story: Danger Ahead
Blue Sky Amid the Clouds
Compliance Clinic
Compliance Inbox
ABA Resources
Board Matters
Legal Briefs
First Person

ABA Banking Journal - June 2010

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