American Association of Bank Directors Announces Appointment of John D. "Jay" Cornet to Advisory Council to the Institute for Bank Director Education

Deteriorating loan underwriting standards in national banks have put national bank directors and others on notice of potentially serious consequences if appropriate action is not taken...

The American Association of Bank Directors ("AABD") announced today that it has named John D. "Jay" Cornet to the Advisory Council of the Institute for Bank Director Education.

Mr. Cornet heads JDC Associates, LLC, a bank consulting firm that works closely with bank boards of directors on governance issues. He also serves as the Chairman of the Board and was a founding director of Carolina Bank, Greensboro, North Carolina, and its parent company, Carolina Bank Holdings, Inc. He lectures extensively on bank governance, marketing new products and services, business development, and sales techniques.

Mr. Cornet has developed a detailed system to identify and improve the corporate governance practices in banks and savings institutions. The "Assessment of Governance Risk Exposure" consists of three parts: Audit, Evaluation and Recommendation. The audit is conducted through the management interview, the board interview, and the policy review. This detailed interview and review process examines the governance practices of the institution.

This data collected through the Audit is carefully analyzed relative to legislation, regulation, standards of care and corporate governance.

Based on the analysis of the data and interviews, recommendations are formulated and presented to management and the board of directors to improve current practices and implement needed governance policies and procedures. This process is designed to meet regulatory, Sarbanes-Oxley Act and listing exchange requirements and to provide practical methods of operation within sound governance practices.

"Jay will bring tremendous insight and creativity to our efforts to foster educational opportunities for bank directors," Keith Dalrymple, AABD's President, said. "In light of recent corporate disasters, it is clear that more needs to be done to provide bank and other corporate directors the informational and educational support they require to be effective directors."

Founded in 1989, the non-profit American Association of Bank Directors is the only trade group in the United States solely devoted to bank directors and their information, education, and advocacy needs. The Institute for Bank Director Education was established in 1993 as the educational arm of AABD. Its purpose is to act as a clearinghouse for education programs designed for bank and savings institution directors that support the nationally recognized Director Certification Program.