One Small Step for a Brand New Bank
A brand new bank, just 1½ years old, hired BKD to administer its retirement plan. In the process, we learned the bank was unhappy with its CPA firm but uncomfortable with the idea of changing. Nevertheless, bank management conveyed their specific concerns about an upcoming stock offering and loan production office application.
In response, we demonstrated our experience with private placement offerings and regulators—and ended up helping the bank generate $3.5 million in capital and open a new loan production office. As a result, the bank overcame its reluctance to change auditors and hired BKD to provide tax and audit services as well as ongoing benefit plan administration and technology and regulatory compliance consulting services.
The result: now the bank rarely makes a move without running its plans by BKD and considers BKD a partner for life.
