Banking

Warren Averett Welcomes Schauer, Cox, Kilfoyle - Strengthens Banking Practice

BIRMINGHAM, AL - May 19, 2008:  Alabama’s largest locally owned and operated certified public accounting firm is proud to announce that Douglas B. Schauer, W. Ernest Cox and Alan E. Kilfoyle, currently of Schauer Taylor, P.C., will be joining Warren, Averett, Kimbrough & Marino, LLC effective June 1, 2008.  Schauer, Cox and Kilfoyle bring with them a team of professionals and a recognized accounting leadership in the banking industry.  This joining of professional expertise will serve to broaden the resources and scope of services available to their client base, as well as add strength to Warren Averett’s existing Financial Services Practice. 

Doug Schauer started his own CPA firm in 1986 and has served as its managing partner since inception.  In joining Warren Averett, Schauer brings concentrated expertise in the financial services industry and 29 years of public accounting experience.  He will continue to focus his practice in the areas of tax and audit for financial institutions, SEC and Federal Reserve reporting, and bank consulting.  Schauer also provides corporate tax compliance and planning services for privately-held entities in a variety of industries. 

Ernie Cox brings 25 years of public accounting experience to Warren Averett.  Cox performed his first bank audit in 1981 and has developed a strong expertise serving a variety of financial institutions from de novo banks to SEC registrants.  He will continue to concentrate his practice in SEC reporting, banking and corporate taxation.  Cox also has expertise in information systems and regulatory compliance for financial institutions, and forensic accounting.

Alan Kilfoyle focuses his practice on financial institutions, SEC filing assistance, and small business services.  He joins Warren Averett with 17 years of experience in public accounting and banking. Kilfoyle has significant experience in leading banking audits, as well as experience with corporate and individual taxation.

A recognized leader in the accounting and business consulting industry since 1972, Warren Averett is ranked among the top 100 CPA firms in the United States and within the top 15 Southeastern firms (Public Accounting Report, 2007).  With offices in Birmingham, Cullman and Anniston, Warren Averett serves both public and privately held businesses, including financial institutions, manufacturers, hospitals and medical professionals throughout Alabama and the Southeast.  Learn more at www.wakm.com.

For over 30 years, the professionals in Warren Averett's Banking Service Group have served the financial services industry. We have witnessed the changes that have occurred - from mergers and acquisitions to regulatory controls. Now, with the rapid changes occurring in technology and the advent of online services, new challenges are on the horizon. We believe it is our role to assist our clients in making important decisions about managing their growth and establishing a competitive foothold.

Warren Averett has several senior level professionals with extensive banking experience and expertise serving community banks and larger public banks throughout Alabama, Florida, Georgia and Tennessee. Warren Averett serves interstate multibank holding companies exceeding $1billion in consolidated assets.We are also active members of the Community Bankers Association of Alabama. Warren Averett is committed to expanding and supporting this growing practice area within the firm. As such, we have the capabilities and resources to fully serve the tax and audit needs of our banking clients.

Based on experience, our team of professionals adopts a practical approach to audit, compliance, and business consulting services. Warren Averett links the technical skills of these functions with the practicality and experience of business professionals. For example, when conducting an audit, many aspects of your internal operations are reviewed and these are often key areas for improving operational efficiencies. We believe that by providing proactive solutions we can provide a value-added relationship for our clients.

Our financial institution clients include:

• Public banks
• State banks
• Community banks
• De Novo banks

Warren Averett provides a range of business and regulatory consulting services including:

• Process design and implementation
• Operational performance and efficiency reviews
• Internal control design and implementation
• External audits
• Bank-Owned Life Insurance (BOLI) portfolio services and related employee benefit consulting
• Internal auditing services
• Fraud investigations
• Strategic planning
• Mergers and acquisitions
• Loan portfolio analysis (monthly, quarterly or periodic) including analysis of past due status and adequacy of allowance for loans losses
• Consult with management on executive and employee compensation programs
• Analyze the impact of employee stock options on bank financial statements
• Advice regarding lending services
• Pre-loan financial analysis and due diligence
• Loan reviews
• Collateral inventory observations and analysis of receivables
• Assist with regulatory examinations
• Tax services and seminars for customers
• Director's examinations
• Assistance with accounting for complex transactions and implementation of new accounting pronouncements
• Assist in regulatory filings, including SEC 10-Ks and holding company filings with the Federal Reserve
• Subchapter S conversion
• Holding company formations
• Federal Reserve
• Call report assistance
• Compliance examination
• IS audits
• FHLB pledged portfolio collateral examinations
• Asset & Liability management
• Capital enhancement planning