Once a problem loan has been identified, which of the following best describes the order in which a resolution should be reached?

The order described in option B provides a comprehensive approach to addressing a problem loan. By starting with the recognition of the problem by both the borrower and banker, this process ensures that all stakeholders acknowledge the situation, which is crucial for effective communication and collaboration toward a solution.

Following the recognition, examining both internal operations and external factors to determine the cause of the problem allows for a thorough understanding of the underlying issues. It invites a holistic view of the circumstances surrounding the loan, which is essential for effective problem-solving. This analysis helps to avoid misdiagnosis and allows the parties involved to address the appropriate causes rather than symptoms.

Finally, assessing the available resources helps in planning how to tackle the identified issues. This structured sequence of identifying the problem, determining the cause, and assessing resources enables a strategic approach for devising a resolution plan tailored to the unique circumstances of the situation.

The other options do reference important elements, but they do not encapsulate the collaborative recognition of the problem or the systematic examination of causes in a way that prepares for a resolution strategy. This makes option B the most suitable choice for effectively addressing a problem loan.