The number of FDIC-insured institutions in the United States was 5,670 as of March 31, 2018, down from 8,534 on Dec. 31, 2007. Over the past five years, 1,292 institutions have been absorbed by mergers, while the number of failed banks has declined significantly. The trend will continue through 2018 and 2019 based on multiple factors. [Continue]
At any given time, one-fifth of banking customers are researching where to buy their next product or service, and 42 percent of those who left one institution did so because they received an offer or took notice of an advertisement from a different financial institution. [Continue]
Is it enough to object to the current method by which banks’ CRA activities are audited and evaluated, without first offering a viable alternative based in objective industry knowledge, market demographics, and needs of each local community? [Continue]
We have all been there: Overwhelmed with projects, direct reports and responsibilities. We look to our highest performers to step in or step up to take on managerial duties to relieve our work loads. We ask them if they are ready and willing to manage a small group of teammates and let them know how confident we are that they are going to knock it out of the park. [Continue]
Whether criminals are attempting to trick their victim into providing information (personal, account, internal procedures), downloading malware, conducting fraudulent transactions, or allowing physical or cyber access into the bank, social engineering is often the foundation that leads to fraud and other security concerns. [Continue]
There is plenty of evidence that community banks, even those that specifically seek to serve underrepresented groups, find a challenge in maintaining a pipeline of CRA eligible loan activities. [Continue]
Bank Midwest adopted the Fierce program for its staff six years ago after Mary Kay Bates, president and CEO, was certified in the program. Bates, BankBeat’s 2019 Banker of the Year, views employee-customer communications as critical to the future success of the bank because people are less likely to interact face-to-face. [Continue]
Banks these days offer some payment transactions in real time, others in simulated real time, and still others in a day or two. But the pressure is on. In a culture where people “want it now,” faster payments is a resolute rallying cry for most financial services professionals. [Continue]
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]
As interest rates rise, it is an interesting time to think about deposits. The change in the rate environment puts pressure on community banks to pay more to retain – let alone attract more – deposits. Loan demand seems strong in many places, reflecting a strong economy, but finding the money to fund those loans can be difficult. [Continue]