William Watson, president of Cross Keys Bank in St. Joseph, La., is a frequent supplier of useful ideas for this column. His communications have included telling how he won a farmer's $150,000 account away from a statewide banking organization because he was willing to make funds transfers by phone. (The larger competitor had made the farmer come to the bank.)

Mr. Watson's latest letter recounts some hypothetical situations that raise ethical questions of the sort community bankers often face.

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