Examination Scope
A trust MERIT examination was performed. The scope included a review of policies, practices, and procedures, trust-related comments in Board minutes, the last external audit, selected accounts, compliance with applicable laws, and matters criticized at previous examinations. Account review included seven accounts.
Risk Profile
Fiduciary activities pose minimal risk to the institution. Total Trust Department assets are $3,318M held in 8 personal trust accounts, 44 burial trust accounts, and 1 farm management agency account. Department records are currently maintained manually, but Trust Officer Hancock is gradually migrating the accounts to a computerized system using Delta Data software running on a stand-alone PC.
Recommendations for Future Examinations
Recommendations parallel those shown on the Confidential – Supervisory Section page.
