Magazine article American Banker

A Core Competency in Storm Readiness

Magazine article American Banker

A Core Competency in Storm Readiness

Article excerpt

With memories of last year's storm season still fresh, executives at a number of Southeast banking companies spent the end of last week monitoring the advance of Hurricane Dennis and preparing for its arrival on the Gulf Coast.

Roger Overton, the chief information officer at AmSouth Bancorp, said top executives of the Birmingham, Ala., company received notices on the powerful Category 4 storm about every half hour as it made landfall. He said the reports were useful in deciding when and where to close branches, as well as to coordinate the locations of the company's 26 flatbed trucks equipped with generators for key offices.

Mr. Overton said AmSouth, which used the aftermath of last summer's Hurricane Ivan as its benchmark, has a special cash reserve for areas expected to be hit by Hurricane Dennis. He would not give the size of the reserve.

Regional managers at Regions Financial Corp., another Birmingham company with a sizable coastal presence, held their first Dennis-related conference call on Wednesday, said Kristi Lamont Ellis, a company spokeswoman and a member of its crisis management team. Workers there were told to call a special hotline once the storm passed, which helped Regions decide where to send water, fuel, and other crucial supplies to employees.

Closings also were a key part of preparations.

Clay W. Cone, a spokesman for the $939 million-asset TIB Financial Corp. in Fort Myers, Fla., said that because of the mandatory evacuation of the lower Florida Keys the company had closed its two branches in Key West and another in Big Pine Key. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.