Case Study: Territorial Bank of American Samoa achieves profitability and strategic growth with Paro

Territorial Bank of American Samoa earns first unqualified audit and first profitable year with Paro

The Territorial Bank of American Samoa, a state-owned regional bank, faced significant challenges in recruiting and retaining executive-level financial talent due to its rapid growth and remote island location. These talent gaps hindered their operational efficiency and strategic planning, necessitating a solution to diversify operations and build a path to sustainable growth. They engaged the services of Paro for fractional accounting talent and executive-level advisory.

Paro implemented a dynamic fractional talent model, providing a bookkeeping team for cleanup operations and a fractional CFO for strategic leadership. This solution led to the bank's first unqualified audit and its first profitable year in FY22, a success that continued into the following years. The partnership with Paro provided access to a professional network and established a long-term roadmap for profitability, enabling the transfer of institutional knowledge to the local workforce.

Territorial Bank of American Samoa