Pub. 10 2020-2021 Issue 1

O V E R A C E N T U R Y : B U I L D I N G B E T T E R B A N K S — H E L P I N G C O L O R A D A N S R E A L I Z E D R E A M S July • August 2020 5 Jim Perry — VP, Regional Business Development Jim joined Golden Eagle Insurance in November 2018 as a vice president of Regional Business Development. Jim is a graduate of the United States Military Academy at West Point with a major in Economics. After graduating from West Point, Jim spent time at Fort Stewart, Georgia, as an Infantry Officer. After his time in the Army, Jim sold commercial real estate and worked as a mortgage banker. Jim currently resides in Hilliard, Ohio with his wife and enjoys traveling, hunting, backpacking, and cheering on the Army football team in his free time. The vast majority of customers have protection on their collateral at any given time. Thus, the tracking expenses above are being incurred for the sake of 1-2% of the portfolio. Blanket insurance can eliminate these high costs while still properly protecting the portfolio. Blanket insurance provides the same type of protection that a lender-placed policy provides, and the coverage is superior to typical lender-placed insurance because it’s automatic. In addition to eliminating tracking, blanket insurance has become more attractive to many lenders because it elegantly passes regulatory examinations. When examining insurance procedures, regulators are primarily concerned with ensuring an institution is properly protected. Regulators are very positive about blanket concepts since they know that it offers better protection than tracking because it eliminates the possibility of human error. Perhaps one of themost valuable facets of blanket insurance is its ability to help improve relationships with borrowers. Blanket insurance eliminates negative interactions with customers because there is no need to contact a borrower in the event of an insurance lapse. Under a blanket policy, there are no contentious phone calls or letters to be sent, and no headache of placing and subsequently removing a lender-placed policy as a customer’s private policy lapses and is reinstated. Just as good fences make good neighbors, a blanket policy improves relationships through peace of mind. Through years of experience, Golden Eagle has continued to innovate and expand our blanket concepts to serve best the community banks who, in turn, serve their communities. Our blanket concepts can be applied to mortgage loans, including commercial portfolios, consumer portfolios, and even industrial or agricultural equipment. We are continually looking for new ways to help community banks become more efficient while staying adequately protected. I hope it does not sound presumptuous to say that I, personally, and our entire Golden Eagle team feel emotionally invested in the state of Colorado. While I was born and raised in Ohio, my wife and I have traveled extensively in Colorado, and will soon be calling the state home. While I look forward to moving to Colorado, the mission and mindset of community banks are one we know to be noble and essential to a thriving society, and we take pride in helping community banks better serve their customers. As we all work to navigate the difficulties and successes that the next year places before us, Golden Eagle is excited to kindle new relationships and provide innovative solutions for Colorado lenders . n Denver | Fort Collins | Greeley WWW.CP2LAW.COM COAN, PAYTON & PAYNE, LLC PROVIDES A FULL RANGE OF LEGAL SERVICES TO THE BANKING INDUSTRY. R. Clay Bartlett G. Brent Coan Donovan P. Gibbons Amanda T. Huston Michael C. Payne Brett Payton Carol S. Raznick Jordan Wiswell Matthew L. Chudacoff T he vast majority of customers have protection on their collat- eral at any given time. Thus, the trackingexpensesabovearebeing incurred for the sake of 1-2% of the portfolio. Blanket insurance can eliminate these high costs while still properly protecting the portfolio. Blanket insurance provides the same type of protec- tion that a lender-placed policy provides, and the coverage is superior to typical lender-placed insurance because it’s automatic.