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Recent business news headlines have made
all too clear the importance of having an effective internal audit
program and the necessity to separate internal audit functions
from external audit functions.
In a cost effective manner, Community Bankers'
Bank is prepared to help you manage your risk with our unique
Internal Audit Consulting Service. Rather than go to the significant
expense of hiring your own internal audit or contracting with
a third party, why not use our experienced bank auditing team
to evaluate your policies and procedures and ensure your compliance
to the many complex banking regulations under which your institution
operates.
Our audit of your institution encompasses bank
operations, lending, administration/finance, and data processing/information
systems. In each area, we review and test to make sure:
- The system of controls reasonably safeguards
your assets
- Information is timely, reliable, and confidential
- Established policies and procedures are being
followed
- Errors and irregularities are detected and
promptly corrected
Benefits of outsourcing your internal audit program
to Community Bankers' Bank are:
- The program will be designed specifically
to meet your needs as identified in the consultative self-assessment.
- Our team of consultants has significant bank-specific
auditing experience.
- We are minimally intrusive when we are visiting
your institution
- Our service costs significantly less than
having an internal auditor on staff
- Compensating balances can be used to offset
fees.
- Fees for Community Bankers' Bank shareholders
are substantially discounted
- A well-structured internal audit program
will improve your operating efficiency and reduce the cost of
external audits.
- We have easy access to regulators and an
extensive library of audit and regulatory materials.
An agent bank credit card program can add
value to your institution by providing additional product offerings
to both consumer and commercial clients as well as providing fee
income for your bank.
- Our Processor offers a full range of
credit cards with competitive interest rates and benefits to
reach a broader base of your bank’s consumer and business
clients.
- Allows your name to be displayed on
your credit cards.
- Offers a turnkey program with no risk
or liability for your bank as well as a liability program which
offers more risk but also offers more opportunity for higher
revenues.
- Offers a 24/7 toll free service and
support
- Offers a hyperlink that can interface
with your website
Community Bankers' Bank, with years of
professional banking experience and focus on providing community
financial institutions with basic banking services in a highly
personalized context is a valuable resource for start-up institutions.
Community Bankers' Bank provides a full range of services for
De Novo banks. Because our Directors manage community banks, we
identify, implement, and market products and services focused
on saving you money and generating significant income. We help
you maintain a competitive advantage in your market.
Community Bankers' Bank can serve as Escrow Agent
for De Novo’s. We will accept and hold documents and financial
instruments on your behalf. In addition, we can invest the funds
you collect into Fed Funds, repurchase agreements, or U.S. Treasury
securities in order to maximize the interest you earn. Acting
as your Escrow Agent is a free service!
Community Bankers' Bank provides loans
to De Novo bank Directors and Officers because we understand how
to value the new bank or bank holding company stock that is often
used as primary collateral. We have the capability of providing
interim financing for a new bank’s facilities and the land
on which they are to be built, as well as organizational lines
of credit. Community Bankers' Bank can meet virtually any need
a De Novo bank may have.
The Public Funds CD Program is a joint effort of CBB and The Treasurer of Virginia established for the purpose of conveniently placing a portion of the Virginia state public funds with Virginia’s community banks. The offering is quarterly and the rate is determined at that time. The Treasurer of Virginia must certify a bank as being eligible to hold Virginia public funds before participation in the CBB program is permitted. Each eligible participating bank may receive up to an amount equal to 3% of total assets (maximum $20 million) under this program.
Banks interested in receiving additional information about the program and getting on the e-mail distribution list for the rate announcement for the next offering should e-mail Steve Kinnier at skinnier@CBBonline.com or call him at 804-794-5885 x 127.
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