Community Banks Count on Us

Need cash? Stop by an ATM. Too little cash in your pocket? Write a check, or use your debit or credit card. Thinking of refinancing your home? Contact your community banker for mortgage rates. On an almost daily basis, we turn to our community bank for financial assistance of some kind. We depend on our bank to run smoothly, operate efficiently, and to provide us with a wide range of financial services, whether a simple ATM transaction or an application for an auto loan or home mortgage.

Just as we turn to our bank, those who manage these banks turn to the professionals at Whittlesey & Hadley, P.C. for sound financial and management advice. Our team of industry specialists provides a wide range of accounting and management consulting services to community banks statewide.

Our commitment to serving financial institutions remains a top priority of our Firm. We offer valuable assistance to our clients as they evolve and grow through the life cycle of a bank. From the first stage of raising capital and establishing initial operations to the maturity stage and beyond, we have the depth of experience to support the community bank and to ensure its success.

Financial institution work is a very specialized, highly regulated field. Whittlesey & Hadley, P.C. provides five broad types of services to our community bank clients:

• Accounting services. Accounting services encompass a wide range of traditional services provided by certified public accountants, including financial statement audits, employee benefit plan audits, and other accounting assistance, such as projections, and financial reporting.

• Tax Services. These services include everything relevant to managing the tax function in a bank – preparation of tax returns, tax planning, assistance with S Corporation elections, representation before tax authorities, etc.

• Strategic Planning. Few other industries have experienced the number of changes that have occurred within the financial services industry in the past decade. As a result, a short-term business plan or a longer-term strategic plan – a road map to future growth – is more important than ever. Strategic planning involves determining where you are, where you want to be, and how to get there. It is a process, not an event.

  How does Whittlesey & Hadley support your business plan or strategic planning process? In one of two ways, either as a facilitator in the process itself or as the driver of the strategic plan. Our consultant will keep your strategic process moving forward by assisting with implementation and monitoring progress.

• Consulting. While accounting and tax services are considered traditional services, consulting services are anything but traditional. These services are unique to financial institutions and include processes such as internal audit outsourcing, compliance reviews, independent loan reviews and asset liability management assistance. We also consult on matters of policy and procedure preparations, regulatory issues and orders, due diligence, mergers and acquisitions, and human resource issues.

• Technology Consulting Services. Technology services provided by our wholly owned affiliate, The Technology Group, LLC, include information systems control reviews to ensure that the bank safeguard client information in accordance with regulations from the Federal Deposit Insurance Corporation (FDIC). Such a review includes access security review and testing, virus protection, access controls, firewall adequacy, IT security policies, and more.

In addition to the systems control review, The Technology Group also provides community banks with data storage and disaster recovery review, electronic banking system control review, and Internet penetration testing.

How are we able to provide such a wide array of services to our financial institution clients? How does a firm develop an expertise in serving this highly specialized industry? In any number of ways, including continuing education, professional affiliations, and membership in industry organizations.

Each member of our financial institution team participates in a rigorous continuing professional education program to ensure that he/she remains informed on new regulations and audit procedures.

Whittlesey & Hadley is a member of PKF International, an affiliation of independent accounting firms worldwide. This affiliation puts us in constant contact with accountants around the world who also serve financial institutions. We participate in seminars and monthly conference calls to discuss issues that face our clients. We also attend an annual educational conference that addresses key industry topics. This dedicated focus, enhanced by more than a decade of service to the industry, gives our bank clients confidence that they are dealing with industry experts.

Expertise. Experience. Education. These are the tools we bring to our community bank clients. Add to that an unusual amount of personal attention from your engagement partner and team members.

It’s a winning combination for the community banks served by Whittlesey & Hadley, P.C. It’s part of our commitment to serve community institutions and to provide practical solutions to complex issues.

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