Finer Points
DECEMBER 5, 2013
'In case you missed it, American Banker this week launched a series that sheds some light on the unintended consequences that can result from the aggressive application of regulations. The series explores National Fair Housing Alliance allegations that several large banks have failed to adequately maintain foreclosed properties in predominately minority neighborhoods, which they say […].
Jeff For Banks
JANUARY 13, 2013
'No. I will tell you why in a moment, but first why I thought of this question. Alan Weiss of Summit Consulting penned a book called The Consulting Bible (see my bookshelf if interested in the book). In it, Weiss suggests you jettison the lower end of your client list when you win new clients. His reasons: The client is no longer profitable. You are bored with the work.
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Money and Payments
AUGUST 21, 2013
'These days I noticed an interesting discussion in my Twitter time line and on the web on the fact that the German government has ''recognized'' Bitcoins (even as legal tender, as cnbc reported for some time). There were many reports on the matter, outlining that Bitcoin is apparently gaining further acceptance among regulators. But as the reports were a bit confusing I felt it would be good to track the sources.
Banking 4 Tomorrow
OCTOBER 28, 2013
'Where’s the revenue going to come from? Mobile use is exploding in the banking scene. If you are a retail bank today in the developed world and you don’t have an app for your customers, you are increasingly becoming an exception. Certainly almost every bank in the world today has some form of Internet website […].
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Javelin Strategy & Research
DECEMBER 18, 2013
Walter Mossberg concluded his 22-year career with the Wall Street Journal today with farewell column that commemorates a career that enabled him to review personal technology products that spanned the launch of the Internet, online search, smartphones, and tablets.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Jeff For Banks
JUNE 30, 2013
'During periods of uncertainty lies opportunity. Vernon Hill, legendary leader of the former Commerce Bank in Cherry Hill, New Jersey, took advantage of the last time bankers were contemplating the future of branching by beating them over the head with his high profile and rapidly expanding branches. Can another Commerce Bank eat our lunch this time around?
Jeff For Banks
JUNE 20, 2013
'Credit Unions don''t pay taxes! They''re trying to steal our business customers! I often quote Sun Tzu from his over 2,000 year old book, The Art of War. One of my favorites: "If you know the enemy and know yourself, you need not fear the result of a hundred battles." The frequent and resource sapping waling about credit unions tells me that banks don''t know their enemies, umm, competition.
Jeff For Banks
JUNE 8, 2013
'The St. Louis Fed recently performed a study to uncover the characteristics of community banks that thrived during the financial crisis. Thriving banks were defined as under $10 billion in assets, and maintained a composite CAMELS 1 rating in each exam cycle from 2006-11, an impressive accomplishment. As with most government driven academic studies, there were numerous answers.
Jeff For Banks
MAY 25, 2013
'The drum is starting to beat again for fee income in the minds of banking executives and in financial institution strategy sessions. This week I heard "hedge" against interest rate fluctuations, a comment more common in the late 1990''s to mid 2000''s. So I ran some numbers, and the answer to the post title is: it depends. Fee income comes in many sources.
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Jeff For Banks
JULY 6, 2013
'How can your financial institution stand out in a crowded marketplace? Why don''t we play a critical role in solving the nation''s retirement problem? I recently read a report by the US Senate Committee on Health, Education, Labor and Pensions titled The Retirement Crisis and a Plan to Solve It , led by Senator Tom Harkin (D: Iowa). It called for the establishment of USA Retirement Funds to re-establish pension funds as part of the three-legged stool of social security, pension, and personal sa
Jeff For Banks
SEPTEMBER 6, 2013
'When it comes to pricing loans, my experience tells me we use competitor pricing as our de facto pricing model. For consumer and residential loans, where rates and fees appear on the competitors'' websites, it''s not so difficult. But for commercial loans, I suspect we follow anecdotes such as what customers tell us or what friendly competitors murmur to us at a cocktail party.
Jeff For Banks
JUNE 1, 2013
'By: Shannon Marsico My sister is still in high school, and she claims she is deprived of everything. A tactic my sister often uses with my mother when she wants something is stating how “everyone” else is doing it - everyone is going to the mall after school, everyone owns an iPhone, everyone is allowed to stay out past 10PM, and so on. To teens, keeping up with their friends and looking trendy are of the utmost importance.
Jeff For Banks
MAY 18, 2013
'The boss goes to a banking conference and senior management worries what new idea he or she will come back to implement. Sound familiar? I''m currently at a banking conference in Florida at a swanky hotel that I would not go to if not for work. Too pricey, too reserved, and too old. But I can''t complain. I''m waiting for room service as I type. The accompanying picture was my work view yesterday.
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Jeff For Banks
APRIL 26, 2013
'Conventional wisdom : The onslaught of new banking laws, regulations, and regulatory activism requires scale to absorb costs. Or, the rapid pace of technological change and the sophistication of hackers requires resources not found in small community banks. There is truth to conventional wisdom. But with all generalities, there are exceptions. And in banking, lots of exceptions.
Jeff For Banks
JULY 22, 2013
'I learn a lot from bankers and industry experts as I visit their offices, speak to them on the phone or at industry events. Occasionally they will offer an insight that I think my Twitter followers would find interesting. Since I estimate my Twitter community only reads about 10% of their tweet stream, and so many of my blog readers do not follow Twitter, below are selected quotes that I tweeted since version 5.
Jeff For Banks
NOVEMBER 23, 2013
'Twenty years ago there were 14,000 FDIC-insured financial institutions. Today that number is cut in half. The reasons are many. And yes, some are beyond our control such as population mobility, technology, and the need for some scale to invest enough to remain relevant. But, as my one-time Division Officer, Lieutenant Proper, once told me: "Be careful pointing your finger, because the other three are pointing at you.
Jeff For Banks
OCTOBER 12, 2013
'The subject has been on the minds of bankers for years now. The continued extension of the Fed''s easing policy through possibly 2016 has given us a sense of security. But this pro-longed period of low rates, burgeoning core deposits, and uncertainty about what our depositors will do next should keep us restless. For those that rely on yield for returns, it has been a tough time.
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Jeff For Banks
AUGUST 21, 2013
'Does your financial institution pursue a relationship driven strategy? If so, you would be in the majority for community FIs. If not, you are much maligned. In my last post I identified five things I don''t understand. One was "Our Money Is No Different Than the Bank Down the Street". I discussed my confusion as to how bankers could believe this and still pursue a more expensive relationship driven strategy.
Jeff For Banks
FEBRUARY 2, 2013
'Why did Willie Sutton, famous bank robber from the 1920''s to 1950''s, rob banks? "Because that''s where the money is." Sutton, by the way, denied the quote. But we can''t deny it''s true. Financial institutions remain the place to go for money. So why do FIs opt for the sideline in participating more fully in innovation? I recently wrote on these pages that FIs should develop Shark Tank like processes to get early stage equity capital into the hands of nearby entrepreneurs to fuel growth in lo
Jeff For Banks
FEBRUARY 17, 2013
'Historically low interest rates and the recent poor economy highlighted the importance of leadership in community banking. History has provided us great leaders to emulate and Abraham Lincoln is perhaps without equal. In my opinion, he demonstrated three critical qualities of leadership. Vision - Burt Nanus in his book Visionary Leadership contends that vision is inherently idealistic and represents a "mental model of a future state of the. organization.
Jeff For Banks
APRIL 11, 2013
'Welcome to the second installment of Banking Billboard Strategies. In this episode, we have a bank that can''t decide what it wants to be when it grows up. Does it want to be best price? Or best service? Undecided? No worries. Go for both! There is nothing like draining the treasury by investing in top notch personnel, systems, and processes, and charge little for the effort.
Speaker: Brian Muse-McKenney, Chief Revenue Officer & Matt Simester, Cards and Payments Expert
In today’s world of social media, dating apps, and remote work, businesses risk becoming irrelevant (or getting "ghosted") if they fail to meet the evolving needs of Gen Z consumers. Credit cards with flexible payment options, especially for young adults with little-to-no credit history, are a particularly important and valuable solution for this generation.
Jeff For Banks
DECEMBER 29, 2013
'Future Picture: "A high-definition picture that shows in great detail the future as you want it to be." Future Picture and its definition are from James D. Murphy''s ("Murph") 2006 tome, Flawless Execution. I liked it so much, I e-mailed Murph at his consulting firm, Afterburner , for permission to quote from it. Murph and his colleague, Will Duke, called me back.
Jeff For Banks
DECEMBER 15, 2013
'Fellow blogger Jim Marous asked me what I thought were hot stove issues for banking in 2014. Top of my list, branch consolidation. During the second quarter 2013, bank branches generated a relatively low 2.04% total revenue as a percent of average deposits. Average deposits per branch were approximately $53 million. This is according to my firm''s profitability measurement peer group.
Jeff For Banks
NOVEMBER 18, 2013
'A colleague and I recently had a healthy discussion about what agenda items to include at strategic planning retreats. He was strongly in favor of showing summary level financial projections for "business as usual" at the financial institution. Showing value creation, or erosion, from doing the same things you have been doing will highlight the need for staying the course or strategic change, in his opinion.
Jeff For Banks
SEPTEMBER 18, 2013
'My buddy Dave Gerbino and I are speaking about product profitability at the ABA Marketing Conference in San Antonio next week (Monday, September 23rd, 11am if you''re in town). While developing our presentation, Dave drops Bar Rescue on me. Never heard of it, I said. Apparently, it''s a Spike TV reality show where a bar expert (great job!), Jon Taffer, helps owners turn their flailing establishments around (see video clip).
Speaker: Gary Dmitriev
Our upcoming webinar aims to demystify the process of selecting and implementing automation tools for financial institutes. This session will provide your roadmap for vetting potential solutions, focusing on due diligence, vendor assessments, and aligning technology with strategic goals. We’ll also address the critical issue of innovation fatigue, offering tips on maintaining enthusiasm and momentum for new initiatives.
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