Jeff For Banks
FEBRUARY 28, 2010
'I''m writing this post sitting in my car while my 11 year old warms up for a soccer match in Richmond, Virginia. Readers with children that participate in sports know too well of the gaps in time during weekend tournaments. Yesterday, to kill time, we roamed the aisles of the local Wal-Mart. This store was six months old. Along the wall at the checkout lanes there was a mini storefront dubbed "The Money Center".
Jeff For Banks
FEBRUARY 24, 2010
'At times, we bank consultants can be a very self-confident lot. But the measure of a consultant, in my humble opinion, is a recognition of not what we know, but how much we don''t know. We are, after all, a collection of our own experiences and those of our clients and prospective clients. Therefore, to ignore experiences of others because those experiences refute our previously held beliefs would render us less valuable in our chosen profession.
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Jeff For Banks
FEBRUARY 20, 2010
'Chris Collingsworth, an NBC sportscaster covering the Olympics, reported that Apolo Ohno trained four times a day, two hours each. Ohno, as many of you know, is a U.S. short-track speed skater. His events might take two minutes to complete. He trained eight hours a day. Change settings. I’m in a strategic planning retreat for a community bank. Senior Management identifies the following attributes as competitive advantages: - Superior service; - Trusted advisor A wise-guy consultant raises his h
Jeff For Banks
FEBRUARY 17, 2010
'I recently spoke at a NJ Bankers Association event about the things I learned this recession (see blog post regarding subject). Since writing that missive, I realized I left one out. My company does line of business and product profitability reporting for community banks. What I have learned from performing this service is that very few products deliver the level of profits typically sought by high-performing banks.
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Jeff For Banks
FEBRUARY 13, 2010
'On December 31st, a great banker retired: Bill Davis (pictured). I have known Bill for about 10 years and like him as a person very much. But also important is how much I admire his former employer, Norwood Financial (Nasdaq: NWFL) and bank, Wayne Bank. I wondered if others shared my admiration, so I searched one year of archives on American Banker for Bill''s name.
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Jeff For Banks
FEBRUARY 5, 2010
'I attended a meeting the other day with a board committee of a client that is profitable and pro-active in charting their future. While others were talking, I jotted down what I thought were key lessons learned this recession for bankers. Here is what I came up with: 1. Never forget about economic cycles. When deciding on putting bonds in your portfolio or loans on your books, can the borrower survive a recession?
Jeff For Banks
FEBRUARY 3, 2010
'In the 1992 classic movie My Cousin Vinny, Joe Pesci referred to his clients as “yutes”. Fred Gwynn, who played the judge, asked for clarification, not understanding Pesci meant “youths”. Bear with me, I have a point. I was with a bank executive today that told me that 40% of OTS examiners had less than five years experience. Now, this was hearsay and I do not know if it is factually correct.
Jeff For Banks
FEBRUARY 1, 2010
'Bank Director Magazine had its annual "Acquire or Be Acquired" conference last week. Surprisingly, an investment banker from a regional investment banking firm opined that a flood of capital was going to enter the banking industry, triggering "hundreds of bank mergers". Well, given the chart below, his colleagues hope he is right. There is tuition to pay for the kids!
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