RECENTLY IT HAS BEEN TOUTED AS HOW GREAT WE ARE AT SELLING ANNUITIES !!! MANY OF THE SALES ASSOCIATES (EMPLOYEES) HAVE JUST RETURNED FROM A CARRIBIAN CRUSE TO THE BAHAMAS BY SELLING ANNUITIES. WHAT IMPACT DOES THIS HAVE ON CAPITALIZATION ??? GOVT STRESS TESTS AND TARP FUNDING ISSUES... IS THIS REALLY PRUDENT ACTIVITIES DO TO THE AVG MATURITY OF THE ANNUITIES ?? WITH THE INTEREST RATE COMPETITIVE ADVANTAGE BEING IN FAVOR OF THE INSURANCE COMPANIES ANNUITIES AT THE MOMENT, WHAT ARE WE GOING TO DO FOR "ROA" WHEN OUR DEPOSIT BASE IS UNDERMINED AND REVENUE FROM NEW SALES DRIES UP??? I HAVE BEEN A LICENSED INSURANCE AGENT/FINANCIAL PLANNER FOR OVER 20 YEARS AND VERY WELL KNOWN TO MAINSOURCE COMMUNITY, BRANCH EMPLOYEES HAVE ACTUALLY PROMOTED ANNUITIES AS AN ALTURNATIVE TO SOME OF OUR FAMILY'S DEPOSITS. THE SELLING FRENZIE MAY BE A LITTLE OVEREMPHASIZED. ONE SIZE DOES NOT FIT ALL !!!?? IS THERE ANY DUE DILLIGENCE BUT INTEREST RATE PROMOTED ??... COULD THIS LEAD TO EXPOSURE TO LEAGAL ACTIONS IF ECONOMIC CONDITIONS CHANGE OR NEED FOR ACCESS TO FUNDS CHANGE??? JUST BECAUSE SOMEONE HAS AN INSURANCE ANNUITY LICENSE DOES NOT MEAN THEY UNDERSTAND THE RAMIFICATIONS OF FINANCIAL ADVICE. MY OPINION IS THAT THE BANK WILL BE HELD TO AN EXCEPTIONALLY HIGH DEGREE OF FIDUCIARY RESPONSIBILITY DUE TO THE "COMPETITIVE ADVANTAGE" BANK OFFICERS HAVE WITH THEIR DEPOSITORS. DO WE HAVE ADEQUATE E&O COVERAGE??

jerry@cityfundadvisory.com