Risk Management Manual of Examination Policies - FDIC

John Well - Chief Lending Officer
IV. GENERAL CHARACTER OF THE MANAGEMENT (Continued)
Mr. Well’s duties will encompass responsibility for loan growth and the preservation of asset quality. Inherent in this role will be the
employment of conservative underwriting and risk management systems. His background contains considerable lending, credit
administration and operations experience within both commercial and consumer portfolios, which appear compatible with the
proposed Application and business model.
Proposed Board Members
The proposed board includes eight members, five of which are designated as non-executive (outside directors). The outside directors
have a vast array of experience in banking and finance, law, communications, technology, and criminal investigations. A key
improvement in the current management team over the prior proposal includes the addition of directors (either inside in the case of
Mr. Hamm, outside with regard to Mr. Lamar) with previous commercial bank executive/board experience.
A second strength includes the addition of directors Wart and Marcotte. Both individuals appear to hold prominent roles in the
community and may serve to provide meaningful business referrals for the proposal during the formative stages. Other strengths
include Mr. Mason’ background and appearances that he will ask the necessary questions from executive management. Based on the
organizational minutes and discussion with other proponents, Mr. Mason is among the most vocal individuals on the board. In the
interview, Mr. Mason stated that his residence in the Northeast would not preclude him from fulfilling his supervisory duties or
attending board/committee meetings.
Proposed Operating Programs
According to information contained in the Application and Mr. Hamm, the Applicant will adopt comprehensive operating guidelines
with regard to lending, funds management and interest rate risk, investments, and audit. A pre-opening visitation by the primary
regulator should confirm and validate the appropriateness of these policies.
FDIC 6510/10 (02-2002) 20