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A bank’s internal audit function faces a myriad of evolving trends and regulatory scrutiny. Staying ahead of the curve is a challenge. Here are a few key trends to keep top of mind, as state and federal regulators display a renewed focus on rigorously evaluating the internal audit function.

A bank’s internal audit function faces a myriad of evolving trends and regulatory scrutiny. Staying ahead of the curve is a challenge. Here are a few key trends to keep top of mind, as state and federal regulators display a renewed focus on rigorously evaluating the internal audit function.

When the First National Bank of Groton initially applied for a banking charter in 1865, the controller of the currency at the time turned down the petition, saying he did not think the community needed a bank.
The bank tried again. Again, the controller of the currency turned it down. Finally, on the third try, the charter was approved.
On May 1, 2015, First National said, “Told you so,” with a month-long celebration to kick off its 150th anniversary.
Just in time for its anniversary year, the bank received Bauer’s 5-Star Superior rating, an indication of strength and security, and earned the added title of “Best of Bauer Bank” for maintaining the 5-star rating for 25 years.

When the First National Bank of Groton initially applied for a banking charter in 1865, the controller of the currency at the time turned down the petition, saying he did not think the community needed a bank.
The bank tried again. Again, the controller of the currency turned it down. Finally, on the third try, the charter was approved.
On May 1, 2015, First National said, “Told you so,” with a month-long celebration to kick off its 150th anniversary.
Just in time for its anniversary year, the bank received Bauer’s 5-Star Superior rating, an indication of strength and security, and earned the added title of “Best of Bauer Bank” for maintaining the 5-star rating for 25 years.



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By Scott Van Voorhis

A commercial credit analyst for Tompkins Mahopac Bank, Gemma Graham works 8:30 to 5, with a floating half hour for lunch. All in all, a pretty typical schedule, except for the fact that Graham analyzes office building loans for the Hudson Valley-based bank from her home office in Atlanta. The decision that led Tompkins and Graham to work out this somewhat unusual working arrangement came about more by happenstance than any grand plan, but the success of the arrangement has created a newfound comfort level with telecommuting arrangements at the nearly $1 billion financial institution, which, like many community banks, had been cautious about embracing the work-from-home revolution. And it has provided the Tompkins Mahopac with a potentially valuable retention and recruiting tool as it competes in an increasingly tight labor market.

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