Internal Legal Counsel

Neil...

We looked at adding legal counsel a few years back.  At the time we were about a $400 million bank and the main role would be to oversee the legal aspects of a problem loan resolution, review contracts and to be a second eye on the preparation of attorney prepared loan docs.   At the end of the day. for us anyway, cost was too high.  We decided we would review again if we were closer to $750 million. 

Hope that helps.


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Michael Moderski
President & COO
McFarland State Bank
Mcfarland WI
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Original Message:
Sent: 07-24-2019 12:11
From: Neil Stanley
Subject: Internal Legal Counsel

I am curious about your opinions regarding adding in-house legal counsel to your bank staff.  Of course size and scope of the organization play into the issue.  Does anyone want to share their decision process around when and how to assess the justification for having or not having internal legal counsel?  For those who advocate for internal legal counsel, any thoughts about where they are in the org chart and their work assignments and impact expectations?

Thanks

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Neil Stanley
TS Banking Group
Treynor, Iowa
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