Discover Top Posts Tagged with #levon mathews

The Local Focus of First Federal of Port Angeles

With nearly three decades of experience in retail and commercial banking, Levon Mathews has improved the financial institutions he has served through credit quality stabilization, enterprise risk management, and team-based selling. Levon Mathews’ most recent experience includes service as president and chief executive officer of First Federal of Port Angeles in Washington State. Since 1923, First Federal of Port Angeles in Washington State has dedicated itself to community banking. Renowned for its commitment to integrity and accountability as well as to its local region, this organization offers numerous options for people and businesses throughout the Olympic Peninsula. Among the many services offered by First Federal of Port Angeles is personal and business lending. Individuals seeking financing for automobiles or vacations and those interested in debt consolidation can make an appointment with a personal banker to learn more about the institutions offerings in these areas. This meeting allows clients to discuss their needs and expectations with a local professional who can assist them in making decisions and developing a plan. Business owners also benefit from First Federal’s focus on improving lives and communities, as the bank supports business ventures on everything from working capital to construction. Moreover, the bank offers loans for buying, renovating, and refinancing commercial real estate in Clallam and Jefferson counties.

#Levon Mathews #Port Angeles #First Federal #Local Focus

Asset Quality - A Key Component in Formulating the Policy for Loans

As a banking executive, Levon Mathews used his skills and training to provide good service while also cutting costs. One of the areas in which Levon Mathews focused was asset quality - a key component in providing the best in products and services at a bank. In an effort to provide excellent retail products and services, banking executives must look at the quality of their assets. Therefore, a thorough audit or examination of a bank's assets is helpful in assessing risk and increasing trust among a bank's base of customers. Assets in banking include investments, loans, OREO (other real estate owned), cash items that are in collection, open reconcilement items, off-balance sheet items, and miscellaneous assets. When assessing risk, bank examiners list risk-based assets under three categories. These classifications include substandard assets, or those loan items that are not adequately safeguarded by collateral; doubtful collections, or loans that have been issued with collection improbable; and uncollectible assets. By compiling the above data, bank executives can better decide on how to improve the loan review process and avoid losses. According to the FDIC, a risk-based asset examination is helpful in formulating and enforcing loan policy and preventing unnecessary losses in the banking field.

#banking executive #Levon Mathews #asset quality

Dual-Signature Loan Authority

Retail and commercial banking professional Levon Mathews is based in Frankfort, Indiana. During his tenure as CEO and president of First Federal of Port Angeles, Levon Mathews was instrumental in changing the loan authority procedure within the organization to a dual-signature model, a measure which stabilized credit quality concerns and improved commercial banking penetration and relationship management. Organizations dealing with large-scale loan authorizations frequently adopt a dual-signature policy in the approval of transactions. Two-signature transactions provide an extra layer of security for both the financial institution and the organization initiating the transaction. While this may not be necessary for more frequent, smaller loans, organizations may choose to adopt such a policy for transactions exceeding a certain dollar amount. Having the dual-signature requirement in place can protect against unexpected or illegal withdrawals by one individual, and companies may not wish to give authority for large amounts of money to just one individual. Additionally, lenders may be reassured by the knowledge that more than one associate has authorized a large transaction, and may be more willing to approve the transaction.

#Levon Mathews #First Federal of Port Angeles #dual-signature

How the FDIC Protects Consumer Bank Accounts

Community banking executive Levon Mathews most recently served as president and chief executive officer of First Federal Savings & Loan of Port Angeles, Washington. During the course of his 30-year career in regional retail and commercial banking, Levon Mathews helped coordinate more than a half-dozen mergers or acquisitions, and he turned around several failing financial institutions. Since the global recession, community banks and larger financial institutions have engaged in frequent mergers and acquisitions, causing some consumers to worry what might happen to their accounts when their banks merge or become acquired. The Federal Deposit Insurance Corporation (FDIC) insures consumer deposits up to $250,000 per insured bank and focuses first and foremost on protecting consumer financial assets, especially during potentially turbulent mergers and acquisitions. Under FDIC regulations, consumers are given a six-month grace period to restructure their bank accounts, if necessary, following the takeover of their old bank. During this grace period, consumers’ transferred deposits remain insured separately from any accounts they may already possess with the assuming financial institution. Loans with the old bank will generally not be influenced by the merger or acquisition, meaning that loan interest rates will not change. However, the interest that consumers receive or pay on deposit accounts or credit cards may fluctuate. Consumers with deposit accounts, including certificates of deposit (CDs) previously owned by a failed bank, may see changes in their account contracts with the assuming bank. With CDs, customers of the failed bank may withdraw their money without being charged a penalty for early withdrawal.

#Levon Mathews #Consumer Bank Accounts #protection #fdic #The Federal Deposit Insurance Corporation

Dodd-Frank Act and U.S. Banking Regulatory Changes

Levon Mathews is a longtime banking executive who most recently held responsibilities as president and CEO of First Federal of Port Angeles in Washington. With extensive experience in turnaround and mergers and acquisitions, Levon Mathews has comprehensive knowledge of regulations affecting banking institutions. The U.S. regulatory landscape has simplified significantly since the general 2012 elections. In particular, a number of issues surrounding the Dodd-Frank Wall Street Reform and Consumer Protection Act have been resolved. Signed into law in 2010, the Dodd-Frank Act was a reaction to the recession of the late 2000s and is considered the most significant piece of regulatory reform since the Great Depression. The Act mandates decreased leverage and higher capital ratios among financial institutions, as a way of minimizing the risk associated with market cycles. With greater systemic transparency required, the Act also seeks to limit the possibility of bank distress contagion and to ensure that problems are resolved systematically and cost effectively as they arise. Reflecting increased global interdependence, the Dodd-Frank Act is being implemented within a broader regulatory framework of Global Systemically Important Financial Institutions.

#Levon Mathews #Dodd-Frank Wall Street Reform and Consumer Protection Act

The Shifting Banking Paradigm toward Digital Platforms

A veteran banking industry executive, Levon Mathews most recently spearheaded efforts to turn around the struggling thrift First Federal of Port Angeles in Western Washington. Levon Mathews maintains a strong interest in the retail and commercial banking sector and in trends currently informing the industry. One key trend involves a sustained transition to digital services, with the traditional emphasis on branch banking fading.

Financial institutions poised to thrive in the new digitally connected era are actively developing mobile, social media, and PC channels for engaging customers and enabling them to perform a wide range of transactions. The digitally connected customer is well informed on banking choices and expects the delivery of highly coordinated products and services. Banks occupy an ever more competitive online landscape, with customers expecting to engage with banking services in the same way in which they purchase items online. For banks currently implementing a “mobile-first” approach, offering customization while ensuring continuity is a major factor to success. In particular, customers must be able to access easily the same level of services and assistance that they previously enjoyed at physical branch locations.

#The-Shifting-Banking-Paradigm-toward-Digital-Platforms #Levon Mathews