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AGENDA ITEM EXECUTIVE SUMMARY Title:Agenda Item number: IIIA7Motion to Approve a Resolution Authorizing a Professional Services Agreement with Solomon Cor dwell Benz for a Downtown Riverfront Property
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Re-positioning SCB refers to the process of redefining or adjusting the strategic direction of a Small Community Bank (SCB) to better align with market demands and improve financial performance.
Small Community Banks (SCBs) that are undergoing significant changes in their strategic plan or business model are required to file for re-positioning.
To fill out the re-positioning form, banks must provide detailed information about their current operations, the proposed changes, and the rationale behind these changes while adhering to the specified guidelines.
The purpose of re-positioning SCB is to enhance the bank's competitive edge, ensure compliance with regulations, and improve overall service delivery to customers.
The report on re-positioning SCB must include details such as the current strategic plan, proposed changes, expected outcomes, and timelines for implementation.
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