• Renaissance Bank Advisors is a boutique organization that was formed in response to the needs of an advanced and rapidly changing BOLI (Bank Owned Life Insurance) and Executive Benefits marketplace.
  • We bring community bankers an entirely new offering of integrated advisory services guided by stable leadership, delivered by seasoned advisors, and supported by sustainable administration.

Separate Account BOLI and Market Reaction
5/15/2008
In recent news, several large financial institutions, among them Wachovia Corporation (Wachovia) and Fifth Third Bancorp (Fifth Third) have announced write-downs related to their Bank Owned Life Insurance (BOLI) portfolios. Recent news releases reported that Wachovia is taking a $315MM write-down in the first quarter 2008, and that Fifth Third took a write-down of $170+MM in the fourth quarter 2007 and another $130+MM write-down in the first quarter 2008. We invite you to read the attached article, in which you will find the full text of our comments about these large bank BOLI write downs. Click here for more Details.


DEADLINE APPROACHING!
A reminder that plan sponsors have until December 31, 2008 to amend plan documents for IRC 409A compliance
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