In times of volatility, it is critical to know how to interpret aggregated cost of funds data and correctly understand the pricing marketplace today. You may be familiar with Mark Twain’s opinion of statistics — “There are three kinds of lies: Lies, damned lies and statistics.” [Continue]
Has deposit insurance changed forever? Regulators boldly protected all depositors at Silicon Valley Bank and Signature Bank when they failed. Is 100 percent coverage of bank deposits now the norm? [Continue]
In their efforts to win and maintain market share, many community bankers have recognized the need to invest in innovation. The problem is innovation efforts are often focused on front-end technologies, such as websites or mobile apps. Meanwhile, the back-end technologies, including legacy core banking systems, are left in place. [Continue]
Banks need to be acutely in-tune not only with the state of the economy, but with the particular challenges their customers may face in a downturn. Already, millions of Americans are struggling to afford basic housing costs. [Continue]
Whether it’s at grocery stores or gas pumps, people across the country are feeling the effects of inflation and many households have been forced to make major changes to their spending habits. But, what has happened to their saving habits? [Continue]
I am convinced community banks feel the impact of inflation more than big banks. Inflation means upward pressure on interest rates, and community banks generally need to increase the interest rates they pay on CDs and savings accounts more rapidly than the largest banks because people still feel larger banks are safer than smaller banks. No matter what regulatory changes occur, most people still believe too-big-to-fail is real. [Continue]
We’re asked to upload images with our phones all the time. Insurance cards, driver’s licenses, checks. And we’ve all experienced the less-than-stellar experience of struggling to get our item exactly in the frame or a multi-step process of needing to crop and rotate so that the image is accepted. [Continue]
Charles Evans and Esther George were both born on January 15, 1958, which means they bumped up against the Federal Reserve’s mandatory retirement age for bank presidents last month. Leadership changes, therefore, are underway at the Chicago and Kansas City Federal Reserve Banks: Austan Goolsbee was named the new president and CEO of the Federal Reserve Bank of Chicago. The Federal Reserve Bank of Kansas City has yet to permanently fill the vacancy created by George’s departure; she was replaced on an interim basis by Kelly Dubbert, first vice president and chief operating officer. [Continue]
Banks with success stories to share frequently share a common attribute, wrote Kyle Hershberger, president at Cross Financial in Omaha, Neb. Their bank’s culture and teamwork rate as a strength and competency. Strong teams focus on “we before me.” [Continue]
Security challenges for financial institutions are evolving quickly and continually. Increases in cyberattacks, online fraud and ATM thefts are top of mind for the security teams responsible for protecting people and assets. [Continue]