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 Your Bank Insurance Experts

 

News For Bankers

 
Greetings!  
I hope that you will find this newsletter informative and timely.
 
 
 

First Quarter Banking Results

(Assets, Loans and OREO in thousands) 

Minnesota
2012 Q1
2011 Q1
2010 Q1
2004 Q1
# of Banks
387
402
410
483
Employees
13,788
15,262
15,319
21,476
Total Assets
66,544
64,861
61,161
60,437
Total Loans
39,953
40,880
42,591
42,988
OREO
978
1,160
1,011
86
Net Int Margin
3.79%
3.79%
3.97%
4.33%
ROA
0.98
0.63
0.42
1.54
% Unprofitable
11.11
14.18
18.54
5.59
Past Due %
2.5
3.01
3.49
0.77
Nonperforming %
3.09
3.69
4.09
0.69

Wisconsin        

# of Banks              271            272            281           310            Employees             23,277      29,369       29,905      26,981       

Total Assets           96,755      145,074     153,012    109,480

% Unprofitable       8.12           12.87          16.73        2.58

 

We added 2004 numbers to be able to see some longer term trends.

 

Cybersecurity Update

 

Cybersecurity is becoming more complex with threats coming from multiple directions. Now we have to worry about Zero Day Malware?

See this article for the "Top 10 Financial Services Cyber Security Trends for 2012". 


FDIC Litigation Update

 

As receiver for a failed financial institution, the FDIC may sue professionals who played a role in the failure of the institution in order to maximize recoveries. These individuals can include officers and directors, attorneys, accountants, appraisers, brokers, or others. Professional liability claims also include direct claims against insurance carriers such as fidelity bond carriers and title insurance companies.

 

As of May 15, 2012, the FDIC has authorized suits in connection with 63 failed institutions against 549 individuals for D&O liability. This includes 29 filed D&O lawsuits (2 of which have been dismissed after settlement with the named directors and officers) naming 239 former directors and officers. The FDIC also has authorized 33 other lawsuits for fidelity bond, insurance, attorney malpractice, appraiser malpractice, and RMBS claims. In addition, 143 residential mortgage malpractice and fraud lawsuits are pending, consisting of lawsuits filed and inherited.

  

 Authorized D&O Defendants
2009  11
2010  98
1011  264
January 2012  18
February 2012  36
March 2012  42
April 2012  24
May 2012  56
Total  549

 

 

Source: FDIC Professional Liability Lawsuits (www.fdic.gov)

 

 


Class Action Lawsuits Against Banks 

 

There have been several stories in the news recently regarding class action lawsuits being filed against banks. This is yet another consequence of the increasing regulatory burden being placed upon the industry. The American Bankers Association has published an interesting story about a suit involving ATM' s being out of compliance with the Americans with Disabilities Act.  

 

 AiA handles Metrodome Roof Claim

 

See our customer's comments that continue to be played nationally:

 
Bill Lester, Metrodome. Minneapolis, MN.
Bill Lester, Metrodome. Minneapolis, MN.

 
 Agency of the YearAgency of the Year
 

AiA is proud to have been named the 2011 Minnesota Independent Agency of the Year. Minnesota has over 3,500 independent agencies, which makes this a very humbling honor.  We thank all of our customers, business partners and employees who have made this possible. 


 
 Read more about Agency of the Year

AiA News

  • Our Specialty Programs page describes several of AiA's areas of expertise
  • The Testimonial Page shows what some of our key customers have to say about AiA
  • Life, Health and Group Benefits Because of the complex changes involved with the health care reform bill (over 2,000 pages), it is critical to be with an agency that is on top of all the requirements
  • The Agent Page  lists our 25 agents who bring a wealth of knowledge and experience
 
 
Minneapolis based AiA has been a leader in providing insurance solutions since 1980. AiA is a large independent agency with access to over 30 insurance carriers. AiA's strength is the ability to proactively negotiate with underwriters to maximize your coverage and minimize your cost.  

Jeffrey Maas Owner and President of AiA. Jeff has been in the insurance industry for 28 years and has insured banks for 15 years. Jeff teaches continuing education classes for the MN Independent Insurance Agents Association and serves as an expert witness in Property and Casualty insurance litigation. Jeff can be reached at 763-549-2266.

John Gondek  Executive Vice President. John brings 25 years of experience and has a MBA degree from the Carlson School of Management at the University of Minnesota. He holds the CPCU designation (Chartered Property & Casualty Underwriter) which is a premier-earned award in the industry. John can be reached at 763-549-2217 

 

Kris St. Martin Bank Program Director who has 23 years of bank president experience. Kris brings his expert understanding of the banking industry including the expertise to understand your bank's story and critical financial information. Kris can be reached at 763-549-2267. 
AiA Insurance Services

 

 

 

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Dirving while on the phone? Will your bank be liable if your employee crashes on the way to a customer? Check out this article.