Louisiana Bankers Association

“The organization has members.”

“Regional directors shall be elected by the active members at an annual meeting from a slate of nominees selected in the following manner: lba will send a letter to each active member in the region explaining the nominating criteria and election process, as well as the expected duties of a regional director. The current regional director encourages all active members in the region to participate in nomination process. For each region from which a regional director is to be nominated, a nominating committee will be formed consisting of the current (outgoing) regional director, who shall serve as chair, and the three most recent past directors from that region who are still serving as senior officers of active members in that region. Each nominating committee shall select a nominee as a candidate for the regional director for its region.”

“Nominees shall be presented to the board of directors for approval and recommendation to the active members for election. Election of each regional director shall be by the active members at the annual meeting, following the taking of any nominations from the floor.”

“After the completed form 990 is received by the organization, it is reviewed by staff. The staff then finalizes a draft and places the final draft on the agenda of the next scheduled board meeting. The board receives the form 990 one week prior to the scheduled meeting in order for timely review of documents prior to the actual meeting. During the meeting the return is formally approved by the board. Upon approval, the form 990 is released for submission to the internal revenue service.”

“The organization periodically reviews its conflict of interest policy to ensure the organization is operating in a manner consistent with its exempt purpose. The periodic reviews include but are not limited to the following subjects: whether compensation arrangements and benefits are reasonable, whether partnerships, joint ventures, and arrangements with management organizations conform with the organization's written policies, are recorded correctly, and reflect reasonable investments for payments of goods and services.”

“Annually, a budget committee comprised of appointed board members is responsible for reviewing and recommending to the full board the bonus and annual salary for the ceo, coo, the general counsel, and the director of government relations. The ceo evaluates top officers and receives board approval for salary increases and for bonuses. The state bankers association salary survey is used in review and assessments to determine industry standards for minimum and maximum base salaries. Decisions are documented in the board minutes.”

“The organization's governing documents, conflict of interest policy, and financial statements are available upon request.”

“Undistributed income of subsidiaries 61,925.”

“There have been no changes from the prior year.”