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INTRODUCTION OF J. ROBERT SHERWOOD PRESIDENT OF SUBURBAN TRUST COMPANY BY: CHAIRMAN RANDALL BEFORE THE NEWCOMEN SOCIETY, TUESDAY, NOVEMBER 28, 1967 IN WASHINGTON, D. C. The basic means of communication between a bank and a Supervi tik examination. Tonight, in the introduction of Suburban Trust Com ob Sherwood, I want to use this medium for my remarks.. It is necessary, first of all, to explain about the Examination Repc ae most part, it is the basic document of review of the banking polic edures, and techniques within the banking institution. This report is rued to the. institution to provide management with an element of peruve in their operations . The report has a second part known as the idential section. This section comes only to the Supervisor from the niner in the bank. This is the’ so-called "pink section” used only for purposes of supervision to relate on a confidential, informal, and fxm die "real fe e l” of an institution as viewed by the Examiner. I would like to report to you and quote to you from the "pink m l -- the confidential section - - o f the last Report of Examination .. Suburban Trust Company, Hyattsville, Prince Georges County, in States of Maryland: "This management is considered strong, running through top officials down through all junior officers, with an exceptionally strong core of officialdom all through the ranks . . . .President Sherwood is an e x perienced official, held in high regard by others in - 2 - the banking fraternity, who has an intense desire to operate an institution fully acceptable to the regulatory authorities consistent with sound assets and lending policies, and with reasonable returns for the sh are holders . He is supported by Chairman of the Board Richards . . . . The Board is composed of well -qualified independent individuals." • To try to extend these comments further would be gratuitous; a disinterested observer has expressed my sentiments w ell. I find in Bob Sherwood a man who is a doer and a w o rk er. To spend time in detailing his achievements would be repetitious and unnecessary, for the fruits of his efforts can be easily seen. I would like to express instead the philosophy that perm eates the banking industry and finds superior a c knowledgment in the Suburban Trust Company. The philosophy deals with the acceptance of a charter by a bank and with the acceptance thereby of a continuing commitment to the community it s e r v e s . With the privilege of doing business, the banker and the bank must make sure that the bank serves as a source of credit to satisfy community needs; the depositors have confidence in the safety of their funds; and that the stockholders receive an adequate return on their investm ent. These are interrelated responsibilities, each important and each continuous. The Supervisor plays the role of "conscience" and assists in ensuring the maintenance of balance between these responsibilities . The role of the Supervisor, then, is one of being a c r itic . Tonight I am certain that I am supposed to play that role, but this presents a dif ficulty that cannot be resolved. To criticize, you should be able to find tilings wrong as well as right. Tonight I look at Bob Sherwood and Suburban Trust, and my only comment is: Good job, well done, keep it up! May I present J . Robert Sherwood. ######################