Pandemic, civil riots, contentious (and contested) elections — and this wasn’t a dystopian movie script. This describes the year 2020. And because of this, the phrase “Hindsight is 2020” has been permanently removed from usage by many people; we don’t want to see this with clarity again. [Continue]
If you made a business plan for 2020 that was shelved by the middle of March, you might think about dusting it off for 2021. With vaccines becoming available, one can reasonably hope for a return to normal activity later this year. [Continue]
2020 reminds me a little of the George W. Bush presidency. It was progressing rather undistinguishedly, and then 9-11 happened. That changed the tone of the rest of his presidency. This year started out unremarkably, continuing a gradual economic expansion that had started more than a decade ago. Then COVID-19 hit and, all of a sudden, it’s like we entered a different world. [Continue]
When the CARES Act was signed into law in March of 2020, it introduced the Employee Retention Credit as an alternative to employers who didn’t meet the criteria for a PPP loan. It provides a 50 percent credit on qualified wages of an eligible employer. Guidance has evolved since the ERC was first released, offering an opportunity for some banks to qualify. [Continue]
Many of you operate family-owned banks. How might personal notes of gratitude play into prospecting for new business? Imagine a young couple in town who recently closed on a mortgage receiving an email from your president reflecting on the excitement he or she felt when they had closed on their first home. Could such a personal note offer a word of caution borne of experience? Imagine the impact of such a personalized communication from a new friend at the bank. [Continue]
Most public comments and reporting following the FinCen leaks focused on whether the government will crack down on banks over money-laundering. But blaming banks misses a bigger point. Do our systems actually permanently put us in a position of playing catch up? Is the way we do automation today deeply flawed? I think it is. Automation actually needs machine learning or it can make problems it’s meant to fix worse. And maybe it’s more than most banks can take on at the same time after all. [Continue]
With Huntington Bancshares’ acquisition of Michigan’s TCF Financial, the M&A market put an exclamation mark on 2020. [Continue]
From weather disasters and a pandemic to an increased use of technology that is helping farmers control their own destinies, ag bankers in central states experienced a lot in 2020. Now they look ahead to what 2021 holds, expecting more of the same challenges and uncertainty. [Continue]
The year began with some optimism on grain prices and improved trade conditions with China, Canada, Mexico and other countries. Then COVID-19 hit in March and everything changed. Commodity prices for crops and livestock dropped rapidly; ag banking experts from across the region weigh in on the local impact. [Continue]
Many bank marketers went into 2020 with flat year-over-year budgets but were expected to produce greater results than in years past. Then the pandemic came, pushing the need for digital transformation to the forefront and compelling executives to reallocate marketing budgets to support critical digital enhancements. [Continue]