SERVICES

We offer custom plan design, implementation, and support from beginning to end. You can trust our experts to guide you throughout the process.

Bank-Owned Life Insurance (BOLI)

BOLI is a financial tool used by banks to offset employee benefit costs and enhance financial stability.

The bank purchases life insurance policies on key employees, acting as both owner and beneficiary.

BOLI provides tax-advantaged cash value growth and death benefits, helping banks manage rising benefit expenses while improving earnings.

This strategy offers higher returns compared to traditional investments and supports employee retention, though compliance with regulatory guidelines is essential.

A typical BOLI purchase is immediately accretive to earnings per share with earnings increasing in future years due to the effect of compounding.

The maximum amount of BOLI to be purchased is generally equal to 25% of the bank’s Tier 1 Capital amount. Purchase amounts from any one insurance carrier should generally be less than 15% of the Tier 1 Capital amount.

Program Design & Implementation Framework

At BCC, we design tailored BOLI programs that align with your bank's financial goals and strategic vision. Our 5-step framework ensures a seamless process, from assessing your needs to delivering a customized, high-value solution - all with transparency and expertise.

Comprehensive Bank Analysis & Goal Alignment

Insurance Needs Quantification

Market Carrier Selection & Due Diligence

Education & Communication

Program Implementation & Value Optimization

BCC doesn't just implement BOLI products; we serve as a trusted advisor throughout the process. By leveraging deep financial expertise and proprietary strategies, you ensure every solution is:

Tailored to the bank's unique situation.
Transparent in design and execution.
Scalable for future needs.

This framework reinforces our commitment to superior client service through education, strategy, and technology.

Ongoing Administrative Service

BCC will continue to provide the bank with the required annual compliance documents, tax information, and accounting reports.

Monthly, quarterly, and/or annual reports detailing policy cash surrender value (“CSV”) and death benefit (“DB”).

Preparation of IRS Form 8925 information.

Monitoring and reporting for regulatory compliance and additional insurance information as requested.

Updates of insurance carrier ratings from Standard & Poor’s Corporation, Fitch Research, Moody’s Investors Services, and A.M. Best Company. In case of a material change in ratings or condition, BCC will notify the client as soon as possible.

Preparation of annual participant statements and payroll reporting for applicable benefit plans.

Preparation of an annual BOLI Board Reporting package.

Continuous sweeps of over 26,000 sources of death information including the Social Security Administration's Death Master File and obituary announcements from both funeral homes and newspapers to assist with the death claims for insured employees.

Annual cash value confirmations for insurance carriers for the client’s auditors, as requested.

Preparation of suggested journal entries for benefit plan expenses.

Client Portal

Our client portal is designed to provide a seamless experience for all users. This free platform ensures that your information is secure and accessible whenever you need it.

24/7 availability
Easy access to your reports and important documents
Upload documents for BCC safely and securely
Communicate with our team

Enjoy peace of mind knowing that your data is protected while you stay connected with us.

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