Independent Banker - December 2018 - 29

future, if they expect interest rates
to keep rising.
Q Realizing losses: If projected
earnings are ahead of pace,
especially due to one-time or nonrecurring
events, securities that
aren't performing well may be sold
at losses to eff ectively defer income.
This is almost always a smart
cash-fl ow strategy, and your tax
accountant will be pleased with you.
Q Duration altering: Asset-liability
management is the motivation here.
The bond portfolio has always been
the easiest portion of the balance
sheet to tweak for interest rate
risk purposes. An asset-liability
profi le that shows exposure to
falling rates would suggest that an
extension swap is appropriate. If a
profi le indicates risk in a rising rate
scenario, a duration-shortening
swap may be in order.
Q Sector reweighting: This column
has often mentioned the makeup of
a high-performing bond portfolio.
If one's sector weightings are too
heavy in, say, bullet agencies or
corporates, and a recasting of
some dollars can quickly bring
the makeup in line with a more
desirable portfolio, some sector
swapping can be of value.
A given swap can fall into more than
one category. For example, if a bank is
ahead of its profi t goals and is exposed
to falling rates, it could potentially sell
some short taxable securities at a loss
and reinvest into longer taxable or,
better yet, tax-free bonds. The result
would be less asset-liability exposure,
deferral of income, improved book
yield and better sector diversifi cation.
That adds up to a 4-point play for the
home team.
Sales candidates
There are several variables to consider
in identifying bonds that the portfolio
Vendor Management
Cybersecurity Assessment
Findings Management
Business Continuity Planning
Enterprise Risk Management
Contract Management
ncontracts.com

http://www.ncontracts.com

Independent Banker - December 2018

Table of Contents for the Digital Edition of Independent Banker - December 2018

Table of Contents
Independent Banker - December 2018 - Intro
Independent Banker - December 2018 - Cover1
Independent Banker - December 2018 - Cover2
Independent Banker - December 2018 - Table of Contents
Independent Banker - December 2018 - 2
Independent Banker - December 2018 - 3
Independent Banker - December 2018 - 4
Independent Banker - December 2018 - 5
Independent Banker - December 2018 - 6
Independent Banker - December 2018 - 7
Independent Banker - December 2018 - 8
Independent Banker - December 2018 - 9
Independent Banker - December 2018 - 10
Independent Banker - December 2018 - 11
Independent Banker - December 2018 - 12
Independent Banker - December 2018 - 13
Independent Banker - December 2018 - 14
Independent Banker - December 2018 - 15
Independent Banker - December 2018 - 16
Independent Banker - December 2018 - 17
Independent Banker - December 2018 - 18
Independent Banker - December 2018 - 19
Independent Banker - December 2018 - 20
Independent Banker - December 2018 - 21
Independent Banker - December 2018 - 22
Independent Banker - December 2018 - 23
Independent Banker - December 2018 - 24
Independent Banker - December 2018 - 25
Independent Banker - December 2018 - 26
Independent Banker - December 2018 - 27
Independent Banker - December 2018 - 28
Independent Banker - December 2018 - 29
Independent Banker - December 2018 - 30
Independent Banker - December 2018 - 31
Independent Banker - December 2018 - 32
Independent Banker - December 2018 - 33
Independent Banker - December 2018 - 34
Independent Banker - December 2018 - 35
Independent Banker - December 2018 - 36
Independent Banker - December 2018 - 37
Independent Banker - December 2018 - 38
Independent Banker - December 2018 - 39
Independent Banker - December 2018 - 40
Independent Banker - December 2018 - 41
Independent Banker - December 2018 - 42
Independent Banker - December 2018 - 43
Independent Banker - December 2018 - 44
Independent Banker - December 2018 - 45
Independent Banker - December 2018 - 46
Independent Banker - December 2018 - 47
Independent Banker - December 2018 - 48
Independent Banker - December 2018 - 49
Independent Banker - December 2018 - 50
Independent Banker - December 2018 - 51
Independent Banker - December 2018 - 52
Independent Banker - December 2018 - 53
Independent Banker - December 2018 - 54
Independent Banker - December 2018 - 55
Independent Banker - December 2018 - 56
Independent Banker - December 2018 - 57
Independent Banker - December 2018 - 58
Independent Banker - December 2018 - 59
Independent Banker - December 2018 - 60
Independent Banker - December 2018 - 61
Independent Banker - December 2018 - 62
Independent Banker - December 2018 - 63
Independent Banker - December 2018 - 64
Independent Banker - December 2018 - 65
Independent Banker - December 2018 - 66
Independent Banker - December 2018 - 67
Independent Banker - December 2018 - 68
Independent Banker - December 2018 - 69
Independent Banker - December 2018 - 70
Independent Banker - December 2018 - 71
Independent Banker - December 2018 - 72
Independent Banker - December 2018 - 73
Independent Banker - December 2018 - 74
Independent Banker - December 2018 - 75
Independent Banker - December 2018 - 76
Independent Banker - December 2018 - Cover3
Independent Banker - December 2018 - Cover4
https://www.nxtbook.com/mspc/independentbanker/october2024
https://www.nxtbook.com/mspc/independentbanker/september2024
https://www.nxtbook.com/mspc/independentbanker/august2024
https://www.nxtbook.com/mspc/independentbanker/july2024
https://www.nxtbook.com/mspc/independentbanker/june2024
https://www.nxtbook.com/mspc/independentbanker/may2024
https://www.nxtbook.com/mspc/independentbanker/april2024
https://www.nxtbook.com/mspc/independentbanker/march2024
https://www.nxtbook.com/mspc/independentbanker/february2024
https://www.nxtbook.com/mspc/independentbanker/january2024
https://www.nxtbook.com/mspc/independentbanker/december2023
https://www.nxtbook.com/mspc/independentbanker/november2023
https://www.nxtbook.com/mspc/independentbanker/october2023
https://www.nxtbook.com/mspc/independentbanker/september2023
https://www.nxtbook.com/mspc/independentbanker/august2023
https://www.nxtbook.com/mspc/independentbanker/july2023
https://www.nxtbook.com/mspc/independentbanker/june2023
https://www.nxtbook.com/mspc/independentbanker/may2023
https://www.nxtbook.com/mspc/independentbanker/april2023
https://www.nxtbook.com/mspc/independentbanker/march2023
https://www.nxtbook.com/mspc/independentbanker/february2023
https://www.nxtbook.com/mspc/independentbanker/january2023
https://www.nxtbook.com/mspc/independentbanker/december2022
https://www.nxtbook.com/mspc/independentbanker/november2022
https://www.nxtbook.com/mspc/independentbanker/october2022
https://www.nxtbook.com/mspc/independentbanker/september2022
https://www.nxtbook.com/mspc/independentbanker/august2022
https://www.nxtbook.com/mspc/independentbanker/july2022
https://www.nxtbook.com/mspc/independentbanker/june2022
https://www.nxtbook.com/mspc/independentbanker/may2022
https://www.nxtbook.com/mspc/independentbanker/april2022
https://www.nxtbook.com/mspc/independentbanker/march2022
https://www.nxtbook.com/mspc/independentbanker/february2022
https://www.nxtbook.com/mspc/independentbanker/january2022
https://www.nxtbook.com/mspc/independentbanker/december2021
https://www.nxtbook.com/mspc/independentbanker/november2021
https://www.nxtbook.com/mspc/independentbanker/october2021
https://www.nxtbook.com/mspc/independentbanker/september2021
https://www.nxtbook.com/mspc/independentbanker/august2021
https://www.nxtbook.com/mspc/independentbanker/july2021
https://www.nxtbook.com/mspc/independentbanker/june2021
https://www.nxtbook.com/mspc/independentbanker/may2021
https://www.nxtbook.com/mspc/independentbanker/april2021
https://www.nxtbook.com/mspc/independentbanker/march2021
https://www.nxtbook.com/mspc/independentbanker/february2021
https://www.nxtbook.com/mspc/independentbanker/january2021
https://www.nxtbook.com/mspc/independentbanker/december2020
https://www.nxtbook.com/mspc/independentbanker/november2020
https://www.nxtbook.com/mspc/independentbanker/october2020
https://www.nxtbook.com/mspc/independentbanker/september2020
https://www.nxtbook.com/mspc/independentbanker/august2020
https://www.nxtbook.com/mspc/independentbanker/july2020
https://www.nxtbook.com/mspc/independentbanker/june2020
https://www.nxtbook.com/mspc/independentbanker/may2020
https://www.nxtbook.com/mspc/independentbanker/april2020
https://www.nxtbook.com/mspc/independentbanker/march2020
https://www.nxtbook.com/mspc/independentbanker/february2020
https://www.nxtbook.com/mspc/independentbanker/january2020
https://www.nxtbook.com/mspc/independentbanker/december2019
https://www.nxtbook.com/mspc/independentbanker/november2019
https://www.nxtbook.com/mspc/independentbanker/october2019
https://www.nxtbook.com/mspc/independentbanker/september2019
https://www.nxtbook.com/mspc/independentbanker/august2019
https://www.nxtbook.com/mspc/independentbanker/july2019
https://www.nxtbook.com/mspc/independentbanker/june2019
https://www.nxtbook.com/mspc/independentbanker/may2019
https://www.nxtbook.com/mspc/independentbanker/april2019
https://www.nxtbook.com/mspc/independentbanker/march2019
https://www.nxtbook.com/mspc/independentbanker/february2019
https://www.nxtbook.com/mspc/independentbanker/january2019
https://www.nxtbook.com/mspc/independentbanker/december2018
https://www.nxtbook.com/mspc/independentbanker/november2018
https://www.nxtbook.com/mspc/independentbanker/october2018
https://www.nxtbook.com/mspc/independentbanker/september2018
https://www.nxtbook.com/mspc/independentbanker/august2018
https://www.nxtbook.com/mspc/independentbanker/july2018
https://www.nxtbook.com/mspc/independentbanker/june2018
https://www.nxtbook.com/mspc/independentbanker/may2018
https://www.nxtbook.com/mspc/independentbanker/april2018
https://www.nxtbook.com/mspc/independentbanker/march2018
https://www.nxtbook.com/mspc/independentbanker/february2018
https://www.nxtbook.com/mspc/independentbanker/january2018
https://www.nxtbook.com/mspc/independentbanker/december2017
https://www.nxtbook.com/mspc/independentbanker/november2017
https://www.nxtbook.com/mspc/independentbanker/october2017
https://www.nxtbook.com/mspc/independentbanker/september2017
https://www.nxtbook.com/mspc/independentbanker/august2017
https://www.nxtbook.com/mspc/independentbanker/july2017
https://www.nxtbook.com/mspc/independentbanker/june2017
https://www.nxtbook.com/mspc/independentbanker/may2017
https://www.nxtbook.com/mspc/independentbanker/april2017
https://www.nxtbookmedia.com