We are long over due in exploring the potential impact of CECL on bank financial management. Beginning to think through how CECL will behave across the economic cycle should be a priority for us all. Join Larry Sorensen, CFO of Washington Trust Bank, as he shares a study conducted by his team at Washington Trust Bank. That study looked at the impact of reserving for life of loan expected credit losses on provision expense, the allowance position, earnings, capital and financial management during the Great Recession. Learn how they conducted the study, why they conducted the study, and the lessons learned.
Larry Sorensen has been the CFO of Washington Trust Bank, a $6.0 billion institution headquartered in Spokane, Washington, since 2008.
His career spans regulatory roles during the thrift crisis at the FHLB of San Francisco, and private sector roles in the financial industry and high tech. During the 1990’s he worked in the Corporate Development department of Golden West Financial Corporation, and after taking a year off to travel the world, he worked for a software start-up and later found his way back to banking as the CFO of Sonoma National Bank and then his current position with Washington Trust Bank.