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The role of de novo banks in community banking

Kylee Wooten
Posted by Kylee Wooten

In 2005, the Federal Deposit Insurance Corporation (FDIC) received a high of 299 application for de novo – or new – banks, and 237 of those were approved. In fact, from 2000 to 2008, 1,042 new community banks were chartered. But after the recession, de novo activity came to a…...

Cultivating trust with borrowers: The key to lending in 2018

Joseph Lowe
Posted by Joseph Lowe

Growing a financial institution’s loan portfolio involves many factors, including customer experience, interest rates, competition, potential losses and regulation to name a few. Perhaps the most important prerequisite to efficiently grow a bank’s loan portfolio comes down to one thing: understanding the borrower’s unique financial circumstances. Without knowing the borrower,…...

Maximize the value of your CRM through relationship lending

Joseph Lowe
Posted by Joseph Lowe

Are you truly maximizing the benefits of your financial institution’s CRM? The ROI of a fully-integrated customer relationship manager (CRM) is no secret. A CRM offers a central record of customer engagements, efficient task management system and accountability of opportunities or assignments. However, streamlining the once time-consuming tasks with a…...

FASB proposed CECL extension: The true impact

Amanda Rousseau
Posted by Amanda Rousseau

The Financial Accounting Standards Board (FASB) recently introduced a proposal to allow calendar year-end non-public business entities (PBEs) to report reserve levels in accordance with the new current expected credit loss (CECL) standard on Mar. 31, 2022, instead of the initial reporting date of Dec. 31, 2021. This was initially…...

Why do people switch banks?

Kylee Wooten
Posted by Kylee Wooten

People are willing to experiment with new hairstyles or restaurants, but when it comes to banking, most people are content staying put. Since the financial crisis, customer satisfaction with financial institutions has reached record highs, as evidenced by customer loyalty and repeat usage. According to a survey conducted for Bankrate,…...

Gartner analyst: Technology plans require focus on outcomes

Mary Ellen Biery
Posted by Mary Ellen Biery

What will your bank or credit union look like in 15 or 20 years? Will there be tellers or even branches? What new products or services will be offered? Which services or products will become obsolete? These are common questions among financial institution executives, and the answers are critical for…...

How community banks can resurge entrepreneurship

Joseph Lowe
Posted by Joseph Lowe

Millennials are expected to dominate 44 percent of the workforce in the next four years, and they’re aiming to take their careers in a new direction: entrepreneurship. According to the 2016 BNP Paribas Global Entrepreneur Report, millennials around 27 years old are setting out for entrepreneurship in droves, rather than…...

What is digital lending and how can community banks, credit unions benefit?

Mary Ellen Biery
Posted by Mary Ellen Biery

Digital lending is the use of online technology to originate and renew loans in order to deliver faster and more efficient decisions. Many people know of non-bank digital lenders like Rocket Mortgage and Kabbage that market directly to consumers and businesses, but digital lending also encompasses activities of traditional financial…...

Transform your bank’s ALCO from a cost center to a profit center

Mary Ellen Biery
Posted by Mary Ellen Biery

Are lenders and retail bankers lining up to join your financial institution’s asset liability committee (ALCO)? If the idea seems preposterous, it could be that your ALCO could benefit from a new approach, according to Matt Pieniazek, president of Darling Consulting Group. Pieniazek, who will lead the session “How Effective…...

Forge borrower relationships and build trust with data management

Joseph Lowe
Posted by Joseph Lowe

Banks, small and large, store thousands of financial statements, tax returns, rent rolls, appraisals, credit reports and supporting documents annually. Ensuring that these documents are stored safely has increasingly become a concern, as data scandals, such as Facebook’s Cambridge Analytica scandal, and mega data breaches, such as Under Armour’s breach…...