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A community bank CEO takes a contrarian approach to underperforming branches, staffing up instead of closing them down, and Bank of the West embeds star employees at nonprofits as leadership training.
Community banking has no future if leadership doesn’t wake to the new competitive reality and adapt some of their strategies and long-held biases in order to compete. Kill Your (Branch) Darlings. There is certainly comfort in familiarity and tradition – but in the new fintech landscape, that kind of comfort kills.
Looking at the environment that surrounds successful – and not so successful – branches can provide insight into what kind of environment works best for a particular bank. Another data point that can provide some insight into a best branchstrategy is the demographics of the bank’s customers. Age of customers.
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