Hurricane Gustav may have hit the state of Louisiana with a broad swipe of rain and high winds, but one bank was ready for whatever it had in store.
Bancorp South, ($13 billion assets, [BSX: NYSE]), employs more than 3,900 people in about 290 commercial banking, mortgage, insurance, trust and broker-dealer locations in Alabama, Arkansas, Florida, Louisiana, Mississippi, Missouri, Tennessee and Texas.
Over the course of the next few days, building management and restoration crews requested that we limit access to the office as they worked on the clean-up and the damage assessment processes.
ACTION Our business continuity program manager activated our Crisis Management Team (CMT) so they could assess the situation, review and activate necessary business continuity plans, confirm next steps, and communicate with all employees.
The bank is no stranger to bad weather, having survived Hurricane Katrina along the gulf coast of Alabama, Mississippi, and Louisiana in the fall of 2005.
This is how Bancorp South's incident response and business continuity plan handled Hurricane Gustav, and how the lessons learned from Hurricane Katrina were taken to heart when planning for the worst.
Schedule a meeting with an Avalution team member to learn more about our consulting services and software solution, Catalyst, and discuss your specific needs. Schedule a Meeting SITUATION On Sunday, January 8, 2017, the temperature in Cleveland, OH dropped significantly, which caused a water pipe to burst in the hallway of our building, right outside the entry to our Cleveland office.
No one was in the building at the time, and the water poured out for about 45 minutes before it was shut off.
The water pooled primarily in our office space resulting in damage to floors, walls, and some equipment.
When all was said and done, the total amount of water removed from our office space alone, was approximately 15,000 gallons.