The Challenge

Northway State Bank, a full-service commercial and consumer bank, needed to meet federal regulators’ requirements for information technology safety and soundness in the annual regulatory exam. To meet requirements, it had to secure an independent review of its system, as do all financial institutions supervised by the regulatory agencies. In addition, Northway State Bank’s operations were growing fast, and its technology compliance needs continued to grow as well.

The Strategy

Wipfli committed expert help and offered common-sense solutions to bring compliance and stability to Northway State Bank’s information technology system. Compliance assistance was provided to aid the financial institution in meeting regulatory requirements, and to manage its growing information technology infrastructure.

• Performed an effective information technology review
• Educated key bank personnel on areas important to regulators
• Introduced federal regulatory experience to help increase management awareness of the review process and techniques involved

The Results

Following Wipfli’s information technology review, Northway State Bank’s complex and growing system was assured continued compliance and stability. Armed with regulatory techniques and strategies, bank management was better able to manage the compliance aspects of its information technology system. The overall result was a system Northway State Bank could regard with extreme confidence, in both its present and future states of growth.