The old “I’ve got good news and bad news” joke may be in play for community banks when it comes to the Federal Reserve’s decision last month to raise interest rates. While bigger banks make money off trading and fees, net interest margins are critical for community banks and their shareholders. Net interest margins (NIMs) are the difference between the interest earned on … [Read more...]
Five Lessons from Bedford Falls
When “It’s a Wonderful Life” debuted in theaters in 1946, it didn’t exactly pack the same box office punch as say, “Star Wars: The Force Awakens.” In fact, while not a flop, it didn’t measure up at the box office. It garnered five Oscar nominations, but didn’t come close to breaking even financially in its initial run. Looking back across more than 70 years, that may come … [Read more...]
Bank Marketers: Are You Connecting with Seniors to Meet Their Needs?
While much of the advertising dollar goes to the prized 18-to-35 demographic, Bill Murtha’s recent post on mature adults gives powerful witness as to why marketing to mature adults is critical, especially for community banks and credit unions. Murtha cited a recent survey that found that by 2018 nearly 70 percent of all disposable income in the United States will belong to … [Read more...]
Top 10 Marketing Questions for Bank Marketers in a Social World
Remember the day when having a web site was the number one task on your list? Fast forward 10 years, and now the bare minimum requirement that banks need in order to be found and connect with their prospects is a website. Social media, search optimization, analytics, customer feedback are now just as important to implementing a strategic marketing initiative for your … [Read more...]
Bye, Bye Banks
Let’s all say goodbye to banking as we know it. The writing is on the wall. Or, should we say, the writing is in the new Dodd-Frank financial reform bill. For many years, community banks have handled the financial needs of local towns and communities. These banks took in deposits, made loans, and earned a small margin in between. Then someone in our government decided … [Read more...]