New law offers banks a way to accelerate deposit growth

For a long time, it seemed as if the deck was stacked against community banks. But now, some of that imbalance has shifted in favor of community banks. In May 2018, President Trump signed into law the Economic Growth, Regulatory Relief, and Consumer Protection Act. One of many bank-friendly aspects of the new law is a change in treatment of most reciprocal deposits. [Continue]

Beware the dreaded ‘deconversion fee’

Making sure you have the best technology solutions in place for your community bank is tough enough.  Making a change in order to save your bank money or to obtain better service should be an option open to every bank. For this reason, you want to make sure you never accept a vendor contract which imposes a large “deconversion fee” on your bank.  [Continue]

Banking is more than numbers

I am hoping there is still a place for human initiative in banking. I understand banking is defined by the numbers: ROE, ROA, NIM, net income and much more, but generally I have found over the years it is the people behind those numbers who make the industry something special. [Continue]