Operations

Branch strategies for the new environment

As most bankers know, the decline of lobby transactions is accelerating, and financial institutions need to start thinking differently to maintain and attract new clients. With the growing popularity of mobile technology, and some regions becoming over-banked, it has become more apparent that the financial institution needs to become a way to distinguish yourself from your competitors.   [Continue]

Navigating SBA guidance for PPP processing fees

The Paycheck Protection Program established as part of the CARES Act provides that the Small Business Administration pay processing fees of up to 5 percent to lenders based on the volume of the PPP loans disbursed. Until recently, however, the SBA has remained silent on further guidance, leaving many questions regarding the reporting requirements, fee recognition and timing of receipt of the processing fee unanswered. [Continue]

A renaissance for community banks

As America continues to combat the public health and economic consequences of COVID-19, local banks are doing their part to keep money flowing to small businesses. Ensuring that banks maintain liquidity, and have an interest rate benchmark appropriate to their business model, is critical to our nation’s recovery. [Continue]

Costing-out the loan process to maximize profit

Do you know how much it costs your bank to process a loan? If the answer is “no,” then how do you know if you are making (or losing) money on the loans you originate? Banks of all sizes experience pressure on profits. Certainly a variety of forces are contributing to any bank’s relevancy in its particular market. [Continue]

More ways businesses may regret getting stimulus loans

It the bank knows a business personally, the face time will be worth it. Digital applications will, this time, take longer. Banks with strong community relationships should have an advantage. It sounds old fashioned, but a face-to-face meeting is often the key to giving pause fraudulent applications. [Continue]

Getting CARES Act loans right

With so many businesses struggling with diminished or no revenue during forced closures, community-minded banks have stepped up to answer the calls for help and disburse emergency funding. Lenders everywhere have been under enormous pressure to meet the overwhelming demand – and meet it quickly. But even amidst such challenging circumstances, banks’ burden to “get it right” still exists. [Continue]

Six feet of separation scraps interactions, postpones shows

By March 31, three out of four Americans worked from home. Bank lobbies were locked, phone lines redirected, video chats had replaced corridor confabs. All for the greater good, the public health professionals had said, and hadn’t most of us quickly assented? [Continue]

Adaption, not abandonment, key to branch survival post COVID-19

The bank branch is changing. This was true before COVID-19, and changes will further accelerate as we consider branch strategies in the post-pandemic world. The functionality, design and purpose of the branch can and should be evaluated in response to post-pandemic human psychology and emerging safety best practices. [Continue]

How to survive a system conversion

As the first post-conversion business day begins, systems are up, clients can access online and mobile banking and their debit cards are working. Your nightmares of being hunted like Frankenstein by a mob of angry clients were unfounded.  [Continue]