BAS September 2022 Presentations

Conflicts of Interest Is there a policy? Loans to insiders Purchases or sales of assets to or from insiders Dealing with vendors Transactions with related interests of officers or directors

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“One-Man Bank”

• Principal officer and stockholder dominates virtually every aspect of policies and operations • Primary dangers • Incapacitation • Mismanagement • Mitigations • Strong board/outside directors that are independent • Segregation of duties

• Audit program and committee oversight • Written code of conduct & COI policy

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9