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• W297972582 abstract "[ILLUSTRATION OMITTED] With volatility in the markets creating severe whiplash, and investors flocking to the safety of U.S. Treasuries, many community bankers are in an excellent position to benefit from the chaos and from the problems facing larger institutions. As leaders in the community, local banks also need to act as responsible communicators to assure their shareholders, customers, employees, and even those not associated with the bank, that the bank was not engaged in toxic subprime lending and that the underlying financial structure remains sound and rock solid. Unlike the Wall Street elite, most community banks have refrained from risky lending practices, and have avoided the temptation to pursue huge investment yields with difficult-to-assess risk. As a result, some community banks are better able to weather the storms associated with a downturn in the In this article we present thoughts on handling the current environment in terms of communications, lending, deposit gathering, and the investment portfolio. Reputations on the line for all Some commentators have spoken as if there were two tiers of banking, one that now has problems and the other, community banking, that doesn't. We don't believe that the impact of the current crisis and liquidity squeeze is going to be limited to money center banks and investment houses. We see the current turmoil as just the beginning of a situation that will affect community banks. In fact, there are already signs that community banks are seeing the beginnings of the credit cycle. A cycle is defined, in part, as when nonperforming loans rise above normal averages and increase institutions' risks for large write-off's. Our research shows that, on a national basis, nonperforming loans have been rapidly increasing. The current level of nonperforming credits matches the high seen in 2001, when the economy was at its lowest point. This is troublesome. If the U.S. economy is currently sound, why are nonperforming loans rising so rapidly? Normally, you would see this rise as an economy slows. The risk repricing that has been occurring since late July signals that the cycle is on the move. The previous major cycle repricing occurred in 1994. How deep, widespread, and long the turmoil will go depends on how quickly and accurately financial entities admit to having impaired credit. The accounting firms hold a key to that, because they will be the agents who will question which assets are impaired and which are not. We have never experienced a cycle with impairment accounting guidelines. Experienced veterans know that the cycle brings dangers, but also opportunities. Just make sure your seat belts are firmly buckled for the roller coaster ride. Tell your bank's story now Community banks that have avoided risky loans are not immune from the fallout of the sagging housing market and the upheavals in the markets. Investors and customers hear and read about shuttered mortgage firms and wonder about their mortgage and about customers with top scores being denied mortgages. They know small and large firms have gone under or are teetering on the brink. Some customers wonder if the money market funds sold by their bank are backed by lots of investments that have gone sour. There is a growing murmur rising out of communities where our clients do business. Those murmurs are pointing to mounting reputation problems for community banks. In boardrooms and behind closed doors, many community bankers are saying that they did not write toxic subprime loans. Indeed, many are appalled by the fact that anyone would think they did. Outside of those closed doors, however, the public does not know the difference between the guilty and the innocent. We look at this as a risk to a bank's trust with the communities they serve. …" @default.
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• W297972582 date "2007-10-01" @default.
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• W297972582 title "Weathering the Credit Market Storms: A Down Credit Cycle Combined with New Credit Impairment Accounting Rules Bring Both Challenges and Opportunities" @default.
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