First, a confession: This is not an original headline, but the title of a book written in 1963 by one of the most famous ad men of all time – David Ogilvy. My advertising career began at J. Walter Thompson, at that time the largest agency in the world. In those days, I loved the Ogilvy book, considered to be the Bible for the advertising profession. As a newly-minted … [Read more...]
Anyone interested in a de novo bank?
A couple of years back in this blog, we noted with more than a dash of skepticism that the FDIC was trying to make it easier for new banks to test the financial waters. After all, the actions by then - FDIC Chairman Martin Gruenberg to jump start the creation of new institutions – slashing the period of microscopic regulatory scrutiny for new bank ventures from eight months to … [Read more...]
Trump Tax Cuts – Benefiting Wall Street or Main Street?
When Congress passed the White House-backed tax reform legislation late last year, we at BankMarketingCenter.com tried to strike a positive chord, pointing to community banks that had increased wages and bonuses for employees. Now, six months after the historic cuts, it appears the cuts have caused bank profits to increase to levels not seen in the past 20 years, at least … [Read more...]
Yes, bank marketers can learn something from reporters.
I can hear the loud chuckles and scoffing and see the fire engine red faces already. Over the last few years, news coverage of the banking industry has not been warm and fuzzy –e.g. Wells Fargo – but admittedly, that was the institution’s own doing. And while politicians have made it popular in their circle to howl “fake news” when something hits print, broadcast, or online … [Read more...]
When you think you’re having a bad day.
Perhaps one of the best movies about community banking is Frank Capra’s It’s A Wonderful Life, starring Jimmy Stewart, Lionel Barrymore and Donna Reed, a 1946 film that is a holiday classic. You all remember the movie. Jimmy Stewart plays George Bailey, who after his father’s untimely death is left to keep the Bailey Building and Loan afloat in the face of efforts by “the … [Read more...]