Nobody knows when the pandemic is going to clear up. Some are saying there will be a vaccine soon; others are saying we will be dealing with masks, social distancing, quarantines and travel bans for years. I have decided to stop waiting for things to get better; it’s time to make the most of the present, regardless of the conditions we can’t control. [Continue]
Unlike the previous economic crisis just over 10 years ago, and the recessions that preceded it, the current downturn has mostly spared the banking industry. Indeed, though it is not necessarily reflected in the share prices of publicly traded institutions, many US banks have strong balance sheets and are poised for growth. And that includes community banks. [Continue]
It’s been 12 years since the world was introduced to the technology that launched cryptocurrencies like Bitcoin. The revolution was here! Once a mere curiosity, this tech has gotten a breakout session or two at banker conventions ever since it hit the scene. Its insistence for attention has persisted, and has never been more warranted than right now. Blockchain is on the verge of doing much shaking. [Continue]
2020 was a year like no other in recent memory. For years, regulators have required that annual risk assessments include rating the risk of pandemics … now we know why. Banks, like all businesses were largely caught by surprise with minimal plans in place when the shutdown happened. Banks are required to provide essential services to their communities, but also required to protect the health of their employees and customers. [Continue]
We can attest to how the banking industry has developed and supported the women in its ranks. The industry’s commitment to helping women succeed is being put to the test as we approach 2021. I encourage everyone to think and act boldly to consider what changes you can make to policies or expectations so that we all continue to celebrate and support the talented women at your bank. [Continue]
As a director serving two boards, I can tell you that 2020 reinforced its no-star rating by the challenges it afforded leadership in banks large and small. In both cases, for me, dealing with substantive and emotional issues under significant time constraints made me grateful that both of my boards are strategically focused and functionally practical. But that’s not always the case. [Continue]
Financial services are in the unique position of being relevant and significant across all generations. No age group will outgrow the need for some form of banking, but what they expect of institutions differs. Here’s a closer look at the four primary generations in today’s market and what their banking expectations are. [Continue]
As we moved through the first quarter of 2020, there was confidence that middle market mergers and acquisitions activity would trend back up for the year. And then the coronavirus pandemic hit. Despite the chaos, activity didn’t dry up completely. While there was a definitive dip initially, the market has bounced back sooner than expected. [Continue]
I am leading up a SharePoint project that includes several department heads within the bank. Most on the team work very well together and are hitting their deadlines but I am struggling with one department head. He consistently misses meetings and has not met one deadline. How do I handle this when he doesn’t report to me? [Continue]
September 30 marked the close of the 2020 fiscal year for the country; what an enormous year it turned out to be for the U.S. Small Business Administration. When Jovita Carranza was confirmed SBA Administrator in January, there was no way for her to know the agency was on the cusp of its biggest mission since the SBA was created in 1953: Help the country and its small businesses navigate a pandemic-induced recession. [Continue]