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Watch Out for Unsound Banks
– February 23, 2011
The recent wave of bank failures has led many companies to take a closer look at how, and where, they invest their idle cash. Investors can guard against this possibility by conducting a thorough check of a bank’s or savings and loan’s four most recent quarterly statements.
It is often a wise idea to spread the risk by keeping your extra cash in several different institutions over a diverse geographic location.
This is Profit Enhancement Idea #34 in Heard, McElroy & Vestal's 100 Ways: The Profit Enhancement Process series. The purpose of the series is to assist business owners and managers in cutting costs and increasing revenues by working smarter, not harder.
Walker Coburn
318.429.2109
wcoburn@hmvcpa.com
Walker is an Audit Manager in our Shreveport office. He received his Bachelor of Administration in Accounting and a Masters of Accountancy from Millsaps College in Jackson, MS. Prior to returning to his hometown of Shreveport and joining Heard, McElroy & Vestal, Walker worked for KPMG in Jackson and Memphis, and more recently as a financial reporting advisor for FedEx Corporate.
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