Academic journal article ABA Banking Journal

Small Bank Thinks Big: A Community Bank Adopts a Comprehensive Regulatory Compliance Program

Academic journal article ABA Banking Journal

Small Bank Thinks Big: A Community Bank Adopts a Comprehensive Regulatory Compliance Program

Article excerpt

BankTexas

Quitman, Texas

Financial institutions are all too familiar with the amount of work new regulations impose. For large and mid-size banks and credit unions, the extra workload is difficult--but not impossible. For smaller community banks, however, the challenge can seem more daunting.

"We're looking at an avalanche of changes," said Troy Robinson, President and CEO of BankTexas, a locally owned community bank headquartered in Quitman (pop. 2,030) with $200 million in assets, 73 employees, and seven locations. "The sheer volume of work is enormous, and it will be ongoing."

With no compliance experts in house, BankTexas realized that managing all of the information about regulatory compliance--including the training, education, implementation and reporting--would place a huge burden on the bank's managers and employees. Bank leadership also knew that regulators would be taking a hard line, and that noncompliance would have serious consequences.

BankTexas management began reviewing the options for outside help. They expected to find a variety of choices, but this wasn't the case. Most offered only discrete services, such as training or data gathering. …

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