Asset /
     Liability
           Advisors
Experience
Stan C. Faries, President of ALA, has been engaged in state-of-the-art asset/liability management since 1984.
Mr. Faries' career spans four companies:

  -   Asset / Liability Advisors, Inc., an A/L advisory
      firm (96-present)
  -   First Banks, Inc., a $4 billion multi-bank holding
      company (94-96)
  -   Roosevelt Bank FSB, an $8 billion thrift before its
      acquisition (83-94)
  -   Financial Research Associates, a market research
      consulting firm (79-83)

A summary of Mr. Faries' experience follows:

  -  Numerous implementations of interest rate risk
     measurement and management processes, including
     development of extensive policies, acquisition and
     training of A/L department personnel, and
     asset/liability committee leadership.  Experience in
     implementing and using ALM models such as
     QRM, BancWare, IPS-Sendero and FTI.
  -  Provided advice to software companies regarding
     ALM model development.
  -  As Chief Investment Officer of two multi-billion
     dollar banking concerns, have extensive asset/
     liability and portfolio management experience,
     including management of $2 billion portfolios of
     mortgage-backed securities and mortgage derivative
     products (REMICs, IOs, POs, residuals, etc.), and
     rate risk reducing instruments such as financial
     futures, interest rate swaps, and OTC/ exchange-
     traded options.
  -  Introduction of risk adjusted pricing system for
     loans and deposits, permitting the allocation of
     funds to the most attractive asset alternatives, and
     providing funds for those assets from the lowest
     cost sources.
  -  General banking experience including development
     of cost accounting system, management of market
          research and product development activities, and
     studies evaluating branch facilities and ATMs.

Mr. Faries has dealt with examiners of all federal banking and thrift regulatory agencies, as well as numerous state regulators.  His open, honest and respectful approach has resulted in excellent working relationships with the various agencies.  As a commentator on regulatory issues, Mr. Faries has positively influenced banking regulatory policy.

Mr. Faries holds a Master of Arts degree in Economics from the University of Missouri.  He has been a speaker at regulatory forums on interest rate risk management and served on the Industry Advisory Panel for the OTS Interest Rate Risk Model.