Olson Research reviews small bank reports for FASB and interest rate risk requirements.

Olson Research Associates is promising relief for community banks struggling with a growing inventory of accounting rules.

The Columbia, Md.-based company analyzes a bank's call report and produces reports that review the institution's compliance with interest rate risk rules and accounting standards.

For an initial fee of $250, plus additional charges of $600 a report, Olson prepares a financial review for the bank.

The reports comes in two forms: a 28-page analysis that the bank can show to board members, and a second document for auditors that includes back-up calculations.

The product is designed for small banks that don't have the time or resources to deal with accounting compliance standards.

"Banks don't need to understand anything about loading a set of computer programs to use this," said Ronald L. Olson, chief executive of the company.

However, institutions that like crunching their own numbers can buy the software from Olson for $3,500.

Olson, which was founded in 1970, delivers its analyses within two weeks of receiving a bank's call report.

The company has been offering the "Asset/Liability Reporting Service" for two quarters and now has 35 customers. Mr. Olson said his goal is to have 150 clients in the next year.

The product is intended to help bankers comply with all regulations of the Financial Accounting Standards Board, including new requirements for valuing many assets at market prices.

The software also calculates the impact of changes in interest rates on an institution's capital -- a requirement set in the 1991 banking law.

The finished report shows examiners how the bank is handling risk, Mr. Olson said.

"It tells its own story," he said.

Customers can pay extra to run "what-if" scenarios or to have an Olson employee analyze the results.

Olson Research advises about 400 bank clients in areas of asset/liability management and financial planning.

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