Tech-based property valuations need real data

Clear Capital is a Reno, Nev.-based real estate valuation and analytics technology company that has served mortgage lenders since 2001. BankBeat spoke to Kenon Chen, executive vice president of corporate strategy, about what valuation analytics look like in a changing marketplace. [Continue]

Father and son share passion for community banking

Father and son Tim Siegle and Aaron Siegle are working side-by-side as CEO and president of First Resource Bank, Lino Lakes, Minn., after respectively cultivating their individual careers in banking: Tim as a CEO in rural North Dakota, and Aaron as an FDIC examiner. [Continue]

Navigating the pandemic

There is a “hunkering down” mentality among managers in this environment. That’s understandable. Almost no organization can realistically plan for record earnings this year. But let’s not close our minds to the possibility of opportunity. Despite a lack of precedent and a lack of information, you will need to make important decisions in the coming months to navigate this environment. [Continue]

Master of circumstances

Kristina K. Williams became president and CEO of the Federal Home Loan Bank of Des Moines on January 20 of this year, and was soon thereafter reminded that life has a relentless ability to deliver the unexpected. In the earliest days of the pandemic, Williams took charge, organizing a crisis plan, sending roughly 90 percent of her workforce to home offices while keeping 5 percent at the bank’s disaster recovery site and another 5 percent at headquarters. [Continue]

Grants help bankers improve workforce housing in their regions

In Duluth, Minn., 20 distressed houses scattered about town will soon get a Cinderella-style roof-to-foundation renovation needed to make them livable. Once they’re ready for their close-ups, these fresh-faced gems will be sold for below market-value prices, but not to just anyone. Their buyers will be owner-occupants with an average income of 60 percent of the median for the area. [Continue]

Who was the intended PPP target?

Who were the intended PPP grant recipients? At first, it was any company with fewer than 500 employees but then companies with access to other sources of investment, particularly the capital markets, were deemed ineligible. As news about the program spread, some suggested that profitable companies shouldn’t be eligible for the money. [Continue]

How to stay connected while working far apart

Intentionality is the key to maintaining your relationships. Schedule a set date and time each month for a one-on-one meeting. Set an agenda to make sure important topics such as high payoff activities, behavioral and business goals are discussed. Consider these meetings non-negotiable and do not get in the habit of rescheduling, as this sends your team member the wrong message. [Continue]

New app rewards savers with cash prizes

Chris Campbell, senior partner at Centier Bank, Whiting, Ind., was introduced to the 50-30-20 guideline to savings as a kid mowing lawns and babysitting in his Ohio hometown. At that point, however, the “essential” 50 percent of the loot often comprised candy bars and baseball cards, and the other two categories were for charity and savings.  [Continue]

Crisis an opportunity to find, nurture top talent

This is a moment where community banks can ride this wave to poach some really good talent. On the technological front, there are folks who may have fast-tracked some of their technological strategies around disaster and continuity planning and equipment. [Continue]

Mortgage fintech pivots for the PPP

LendSmart, an infant mortgage-origination fintech, was active in the 2020 iteration of the Independent Community Bankers of America’s ThinkTech Accelerator in Little Rock, Ark., until the program got cut short due to the coronavirus. [Continue]