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7 ways community banks can boost profitability

Independent Banker

of digital banking customers said they switched to digital banking because of the pandemic. Source: 2021 Provident Bank survey. These days, there’s a lot to contend with as a community bank, from changing consumer behaviors due to the pandemic to uncertainty surrounding the economy and inflation. Quick stat.

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Fundation Pulls Community Bank Into FinTech Collaboration

PYMNTS

Large financial institutions (FIs) are increasingly turning to FinTech firms and alternative lenders to augment their small business (SMB) offerings, but community banks are beginning to get on board with the partnership strategy , too. They’re very disciplined on credit and interest rate risk,” he said.

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5 ways to shake up your lending strategy

Independent Banker

A new approach to loan protocols is just one way for community banks to grow in new and different directions. Amid changing economic conditions and rising rates, it’s a good time for community banks to re-evaluate their loan strategy with an eye on adaptability. By Cheryl Winokur Munk.

Lending 103
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When a bank fails after engaging in redlining, who's responsible?

American Banker

Republic First Bank allegedly discriminated against minority borrowers before it went under in April. New Jersey officials want both the acquirer of its remains, Fulton Bank, and the FDIC to assume some responsibility.

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How Cross River Bank gathered $250 million in deposits in 15 days

American Banker

Partnering with the account-opening software firm Mantl, the New Jersey bank created a CD campaign that helped fund its Paycheck Protection Program lending.

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it tracker 7.19

PYMNTS

Separately, Ocean Shore Holding is being bought by OceanFirst Financial in a bank deal that is not all that large, at $146 million, but does lend some consolidation in the New Jersey community bank space and a 32 percent premium to tangible book value.

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ConnectOne promotes insider as next bank president

American Banker

Elizabeth Magennis recently served as the New Jersey company's chief lending officer. ConnectOne also hired Michael O'Malley, a former OnDeck Capital executive, as chief risk officer.