August, 2011

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Bank Shorts: Sales Culture Gone Wild

Jeff For Banks

'When I was a branch manager, I fondly recall competing with a friend and fellow branch manager for the quarterly sales title. My bank, First National Bank of Maryland, had a very transparent incentive compensation system. I could calculate my own and my team''s quarterly bonuses to the penny. It was called RAISE. Recognizing Achievement In Sales Excellence.

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Cars: A Lesson in Brand Identity

Jeff For Banks

'A few weeks ago I was driving the Pennsylvania Turnpike when I noticed a sweet ride. Deep black, with flecks of blue, tan leather interior, advanced looking dash, and a pretty, well-dressed lady in the passenger seat to boot. I thought to myself, "what a handsome and successful couple". The car, as emblazoned on the trunk, was a " Genesis ". the beginning. awesome name.

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V-blog: From the desk of jfb. How should FIs use social media?

Jeff For Banks

'Financial Brand August 2010 Survey of Banks Social Media Presence [link] Frank Sorrentino’s (Twitter: @franksiii) Blog [link] Susquehanna Bank’s blog [link] Chase’s Community Giving Facebook page [link].

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Does your strategy drive your structure? I doubt it.

Jeff For Banks

'A few weeks ago I taught Bank Organizational Structure at the North Carolina Bankers Association School of Banking. The School is divided into four classes: Freshman, Sophomore, etc. My course was to the Freshman class. But the class was very diverse, ranging from junior level people to Senior Vice Presidents. This presents a challenge. Part of my task was to demonstrate “how it is” in organizational structure.

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Thinking About How To Lessen Your Burden During Month-End Close? Skystem Can Help!

Most people dread the nearing of the month-end close and reconciliation process, and who can blame them? It's typically a tedious, long, stressful process; but it doesn't have to be. Implementing automation into your month-end process can significantly reduce this headache by automating up to 40% of your reconciliation and saving nearly 30% of your time spent.

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Back of the Envelope: Branch Acquisition Math Made Easy

Jeff For Banks

'On Sunday, July 31st, First Niagara Financial Group Inc. ($30.89 billion) agreed to buy 195 Northeast branches with approximately $15 billion in deposits from HSBC Holdings Plc for an approximate 6.67% deposit premium. During a conference call the next day, First Niagara President and CEO John Koelmel said the bank will divest 100 of the branches and will likely sell about two-thirds of the divested branches and close the others.

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