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Top tech priorities for community banks in 2019

Joseph Lowe
Posted by Joseph Lowe

A new year is bound to bring new challenges and opportunities to the banking industry. Technology has played a heavy role in 2018, with banks and credit unions combining superior customer service efforts with technological advancements to set itself apart from competition. Will your financial institution be prepared to compete…...

Digging deeper: Mining for insights with peer analysis

Joseph Lowe
Posted by Joseph Lowe

For small businesses, planning a strategy around identifying and combating competitors is a must. After all, it’s impossible to gauge performance without comparative metrics. For example, a flower shop owner might ask herself: Is the flower market saturated within the local area? What is competitive pricing for roses around me?…...

CECL comes under fire at House subcommittee hearing

Mary Ellen Biery
Posted by Mary Ellen Biery

The current expected credit loss model, or CECL, had few fans during a Congressional subcommittee hearing Dec. 11, when bankers, Congressmen and investors all called for the accounting standard to be changed, delayed or scrapped altogether. Three of the four witnesses providing live testimony before a House subcommittee hearing to…...

CECL for non-banks: What to expect

Amanda Rousseau
Posted by Amanda Rousseau

With almost a year until some public business entities must begin complying with the current expected credit loss (CECL) standard, banks and credit unions have been fervently beginning transition practices, and their preparations have taken center stage in regulatory and financial news. However, a topic less prevalent amidst current CECL…...

Keeping an eye on credit risk

Mary Ellen Biery
Posted by Mary Ellen Biery

U.S. banks have been posting strong profitability, and credit quality remains sound thus far in 2018. In fact, regulators have noted as much in both the FDIC’s third-quarter banking profile and the OCC National Risk Committee’s semiannual report on risks issued recently. Despite the positive trends, these same regulators expressed…...

Banks are taking sides: Fintech disruption or fintech partnership?

Joseph Lowe
Posted by Joseph Lowe

Today, online-only banks and alternative lenders pose a major threat to community banks that are unwilling to adapt to changing customer expectations. Startups, such as Better Mortgage, can offer mortgage loan decisions in just three minutes using only a credit score and stated income. Meanwhile, large banks such as Goldman…...

Local banks, focus on local SEO

Joseph Lowe
Posted by Joseph Lowe

Community banks and credit unions have built their brands around supporting local communities, small businesses and economies, but what if your bank isn’t well known by the locals? Today, local brand recognition is threatened by online innovation, as well as by large and online-only banks with deep pockets that have…...

How banks, credit unions can prepare for fintech disruption

Kylee Wooten
Posted by Kylee Wooten

Community banks and credit unions face more competition and disruption than ever before. In an interview for the eBook, Agile Bankers – How Community Banks are Addressing Disruption, Risk and Growth, Tom Bugielski, CEO of Republic Bank of Chicago, says, “The retail banking challenge that we face today is something…...

Will a decade of increasing qualitative adjustments come to an end under CECL?

Amanda Rousseau
Posted by Amanda Rousseau

Qualitative adjustments, otherwise known as Q factors, have been steadily increasing in influence on the reserves held for pooled loans since the end of the recession, and their role in estimating the allowance may change yet again under the current expected credit loss model, or CECL. During a recent webinar…...

Making small business loans profitable

Mary Ellen Biery
Posted by Mary Ellen Biery

At the risk of stating the obvious, bankers are generally good with numbers. So it makes sense that lenders and financial institutions are more enthusiastic about making the larger business loans than making the smaller loans. After all, it takes as much time to process a small loan as a…...