PUB. 12 2023 ISSUE 3 CommunityBanker The FROM QUIET QUITTING TO EPIC RETENTION Win the War for Talent with Professional Development
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© 2023 Virginia Association of Community Banks | The newsLINK Group, LLC. All rights reserved. The Community Banker is published four times each year by The newsLINK Group, LLC for the Virginia Association of Community Banks and is the official publication for this association. The information contained in this publication is intended to provide general information for review and consideration. The contents do not constitute legal advice and should not be relied on as such. If you need legal advice or assistance, it is strongly recommended that you contact an attorney as to your specific circumstances. The statements and opinions expressed in this publication are those of the individual authors and do not necessarily represent the views of the Virginia Association of Community Banks, its board of directors, or the publisher. Likewise, the appearance of advertisements within this publication does not constitute an endorsement or recommendation of any product or service advertised. The Community Banker is a collective work, and as such, some articles are submitted by authors who are independent of the Virginia Association of Community Banks. While The Community Banker encourages a first-print policy, in cases where this is not possible, every effort has been made to comply with any known reprint guidelines or restrictions. Content may not be reproduced or reprinted without prior written permission. For further information, please contact the publisher at (855) 747-4003. CONTENTS 8 14 VACB Board of Directors CHAIR Jay A. Stafford Benchmark Community Bank Kenbridge CHAIR-ELECT Tara Y. Harrison Virginia National Bank Charlottesville VICE CHAIR Joseph R. Witt, CPA The Old Point National Bank Hampton IMMEDIATE PAST CHAIRMAN Dennis A. Dysart First Bank Strasburg ICBA VIRGINIA DELEGATE Jeff Dick MainStreet Bank Fairfax PRESIDENT & CEO Steven C. Yeakel, CAE VACB Richmond VACB STAFF Katharine C. Garner, CMP Vice President Education & Communications Kelli C. Mallinger Member Services Administrator VACB DIRECTORS CLASS OF 2023 J. Steven Grist CornerStone Bank Lexington James E. Hendricks Village Bank Midlothian Lisa E. Kilgour MainStreet Bank Fairfax Paul M. Mylum National Bank Roanoke Thomas L. Rasey, Jr. The Farmers Bank of Appomattox Appomattox CLASS OF 2024 Chris Snodgrass The Bank of Marion Marion Blake M. Edwards, Jr. Skyline National Bank Independence CLASS OF 2025 Dabney T.P. Gilliam, Jr. The Bank of Charlotte County Phoenix 4 President’s Column You Have Earned Your Stellar Brand — Protect and Enhance It! By Steven C. Yeakel, CAE, VACB President and CEO 5 Chairman’s Message On to Roanoke! By Jay Stafford, VACB Chairman, Benchmark Community Bank 8 From Quiet Quitting to Epic Retention Win the War for Talent with Professional Development 10 Home Equity Line of Credit Scams By Travelers 12 Securing Your Data Advice From an Award-Winning Cybersecurity Team By BHG Bank Network 14 Value Added High Baseline Yields Accompany Surprisingly Wide Spreads By Jim Reber, President and CEO, ICBA Securities, VACB Preferred Provider 18 The Value of Customer Profitability Modeling By Dennis Falk, SVP & Regional Manager, PCBB 22 We Appreciate Our Early Convention Sponsors! 3 The CommunityBanker
President’s Column Steven C. Yeakel, CAE VACB President and CEO YOU HAVE EARNED YOUR STELLAR BRAND — PROTECT AND ENHANCE IT! From the “too close to the forest to see the trees” department … You wear your community bank brand every day, and you wear it exceptionally well. You have earned it several times over, and you keep growing it, often without conscious effort. You are banking the only way you want to bank: through strong personal relationships built on trust and unceasing efforts to retain that trust. Does this sound familiar? I’d like to think that it does. These are the first few lines of the column I wrote last year for this magazine. It rang true then with many of you, judging by the comments I received then. If possible, it is even “more true” today, given what we’ve come through since mid-March. In the wake of the failures of Silicon Valley and Signature Banks, ICBA rallied support on Capitol Hill and among regulators for exempting community banks from the FDIC assessment. VACB was quick to follow suit with the Virginia delegation. VACB member banks submitted comment letters in support of the assessment exemption. What followed was reassuring. Support came from numerous regulatory leaders in specific comments during Congressional hearings. The media reported on the effectiveness of our advocacy. Other banking associations did not advocate for us, but our advocacy was strong and sufficient. The change in the perception of community banks over the last two decades has been remarkable: from almost Just a little extra effort from every member banker can secure our brand and propel us further in the coming years. unknown to widely respected. You deserve that respect. We work together to make it happen. The penultimate paragraph from that fall 2022 column deserves a reprieve as well: “Don’t let your brand be covered over or diluted. You are much more than a bank; you are a community bank. VACB represents your uniquely valuable brand before policymakers, regulators, the media and the public. Your continuing engagement with us, and your increasing engagement, will provide additional value to your brand.” VACB will be giving you more opportunities over the coming months to build on your uniquely valuable brand. Just a little extra effort from every member banker can secure our brand and propel us further in the coming years. Together, we win the battles! 4 The CommunityBanker
Chairman’s Message Jay Stafford, VACB Chairman Benchmark Community Bank ON TO ROANOKE! On October 1, community bankers from across the state will gather at the beautiful Hotel Roanoke for the 46th Annual Convention and Trade Show. I really hope you, and even other members of your team and board, convention. It’s a great opportunity to reconnect with each other, as well as our associate members, and to hear presentations that will be both entertaining and provide valuable take-homes for your banks. I appreciate the support and input we’ve received from our members over the past year. My year as your Chairman began with one important goal: execute on the four main Strategic Planning initiatives laid out on August 19 of last year. If you remember, those were: 1. Drive Member Value 2. Increase and Diversify Revenue 3. Develop a Long-Term Operating Plan 4. Plan for Management Succession Delivering undiluted community bank advocacy has been, and remains, the primary mission of our association. Increasing and diversifying revenue remains a big challenge, especially with rising expenses and continued industry consolidation. Much more needs to be done in this area in the years ahead. Looking into the future of the association has been the main focus this past year. We’ve explored several Delivering undiluted community bank advocacy has been, and remains, the primary mission of our association. 5 The CommunityBanker
First for Your Success'" ubb.com • Member FDIC Your Full-Service Bankers' Bank As the nation's first Bankers' Bank, UBB has earned the trust of over 1,000 community banks by never competing against them. UBB is not a division or department of a large retail bank but rather a dedicated community bank ally committed solely to the success of every customer we serve. To Request Pricing or Additional Information Visit ubbRequest.com paths forward, and on Friday, August 11, your board of directors made the commitment to remain independent. That being said, I believe expanding the board to its maximum number and finding bankers willing to roll up their sleeves and put in the work that is needed for the longevity of our association is critical. Because last but not least is the impending retirement of our President and CEO, Steve Yeakel, at the year-end of 2024. That will undoubtedly be the main challenge next year. In addition to recognizing the contributions of our members this past year, I also want to acknowledge the work of our board, especially the Executive Committee, including Chair-Elect Tara Harrison, Vice Chair Joe Witt, ICBA federal delegates Mark Hanna and Jeff Dick, President and CEO Steve Yeakel and immediate past Chairman Dennis Dysart. This group has worked tirelessly on the initiatives mentioned above. Until my retirement from the bank on Dec. 31, 2023, I look forward to working with Joe Witt and the entire Executive Committee. I met Joe and his wife, Kathy, at a VBA function several years ago, and Joe and I have formed a great friendship. His bank provided some assistance to my bank in developing a Treasury Services Program earlier this year. This demonstrates the value of collaboration between our banks and bankers. Joe is a passionate community banker, thoughtful, engaging and collaborative, and will do an excellent job leading our association in the coming year. In closing, serving as your VACB Chairman this past year has been an honor and so rewarding to me. I’ve learned so much more about the ICBA this year and realize even more now what an impact this association has on our banks. The bank failures in March and the fight to keep us from paying an FDIC surcharge is one fine example. I enjoyed getting out and making some visits around the state and getting to know more of you. Thank you for your time, encouragement and support. I hope each of you will become even more engaged with the association, which will help not only your bank but the industry as a whole. I can’t wait to get “On to Roanoke” and see each of you. Jay Stafford I hope each of you will become even more engaged with the association, which will help not only your bank but the industry as a whole. 6 The CommunityBanker
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FROM QUIET QUITTING TO EPIC RETENTION WIN THE WAR FOR TALENT WITH PROFESSIONAL DEVELOPMENT VACB and ICBA Can Help! In today’s work landscape, where “quiet quitting” and “act your wage” have become buzzwords, more employers are investing in professional development opportunities to help their employees feel valued and connected to their work. According to a 2022 survey conducted by the Society for Human Resource Management (SHRM) and Talent LMS, more than 76% of the employees surveyed stated that they are more likely to stay with a company that offers continuous training. Furthermore, almost half of employees reported that training opportunities were a crucial factor in choosing their current employers. Here are four reasons why professional development can help your bank win the war for top talent! • Boost Retention: Employees who feel they can grow professionally are more likely to stick around. Offering professional development programs shows your employees that you care about their futures and are invested in their growth. This can lead to higher job satisfaction and a more positive attitude towards work. • Prepare for the Future: With 10,000 Baby Boomers turning 65 each day, many community banks are facing the challenge of business continuity. Upskilling your employees can help ensure a smooth transition when needed and keep your bank humming along. • Stay Competitive: Technology is advancing rapidly, and skills that are relevant today 8 The CommunityBanker
may not be in a few short years. By providing professional development opportunities, you enable your employees to stay up to date with the latest trends and technologies in their field. This can help your bank stay competitive in an everevolving landscape. • Attract New Talent: In today’s job market, job seekers are looking for more than just a salary. They want to work for a company that values their growth and development. By offering professional development programs, you can demonstrate to potential employees that you are committed to investing in their futures. To ensure the effectiveness of your job training programs, tailor them to meet your employees’ needs. This could include offering online training courses, workshops, mentorship programs and opportunities to attend conferences or seminars. Don’t forget to evaluate the effectiveness of your professional development programs regularly and adjust them as necessary. As the job market continues to evolve, professional development will become increasingly important, and employers who recognize this will be best positioned to succeed. VACB has teamed up with the Independent Community Bankers of America (ICBA) to provide a comprehensive menu of training resources for Virginia community bankers. On any ICBA course or resource found on VACB’s website, use the code VA-VACB at checkout, and ICBA will return 10% of the purchase price to VACB. These funds will support local lobbying efforts and new resources and programs for VACB members. Don’t forget to evaluate the effectiveness of your professional development programs regularly and adjust them as necessary. 9 The CommunityBanker
HOME EQUITY LINE OF CREDIT SCAMSBy Travelers Home Equity Line of Credit (HELOC) scams continue to be a costly and challenging issue for financial institutions. Wire transfer fraud can easily reach millions of dollars, and with advancements in technology, such as online databases for county clerk records, online banking and online title searching, data commonly used by financial institutions to verify customer identity for wire transactions is routinely and easily compromised. Several financial institutions have fallen victim to losses arising out of wire transfer and check forgery schemes targeting HELOC accounts and have taken action to mitigate the risk of future loss experience. Institutions that place a high value on their customer service and customer confidence in the institution’s security against wire transfer fraud have implemented risk mitigation upgrades to their operations to help solidify customer confidence. According to Travelers, the following steps are initiatives that can help to avoid, or at least significantly reduce, losses arising out of HELOC fraud scams: • Place greater emphasis on getting full account numbers from callers; • Phrase verification questions so that the caller is providing the information, rather than simply confirming what the financial institution has on file; • Remove items from the list of authentication options (such as mother’s maiden name and date of birth) that have become “public information” through social media websites and venues; • Train employees who field calls to verify authentication items in a specific order and not 10 The CommunityBanker
skip to other items if the caller cannot verify the requested information; • Train personnel with an updated full fraudawareness module to help employees identify warning signs of fraud; • Encourage customers to set up PIN numbers if the automated phone system allows it; • Update customer account files with driver’s license numbers, if not copies of the entire driver’s license (or other government-issued ID if there is no driver’s license); • Utilize a mandatory callback procedure for all customer-not-present wire transfer requests; • Use a password to authenticate customers rather than commonly compromised information and only allow in-person modification of passwords and key account information; • Consider requiring full balance transfers (or transfers up to a certain percentage of the available funds) to be made in person while placing a Technology has made it easier than ever for bad actors to obtain data that is commonly used by financial institutions to verify the identity of their customers. reasonable monetary limit (or percentage limit) on customer-not-present wire transfer requests; • Establish a reporting procedure that refers all suspicious wire transfer requests to a higher level of authority for confirmation/processing; • Require a dual telephone confirmation procedure where the financial institution calls the home phone of the customer as well as an alternate number, such as a mobile phone or work phone; • Establish an automatic two-day holding pattern anytime a request is made to initiate a wire transfer from a HELOC account to a foreign bank account within which time the financial institution ensures accurate verification and deters fraudsters seeking immediate processing; • Verify change of address or phone number requests with a call to the customer’s phone number on file; • Customize specific and unique verification questions and procedures with an account holder/ customer that can only be modified in person; and • Consider performing a verification call back when a purported customer calls the bank to set up online banking for the first time. Technology has made it easier than ever for bad actors to obtain data that is commonly used by financial institutions to verify the identity of their customers. That’s why financial institutions must utilize robust authentication procedures to protect their customers — and themselves — from wire transfer fraud. This includes greater awareness, updated and vigilant policies, procedures and training, and implementing imaginative and unique verification procedures to help reduce the risk of loss arising out of wire transfer fraud targeting HELOC accounts. Travelers is committed to managing and mitigating risks and exposures and does so backed by financial stability and a dedicated team — from underwriters to claim professionals — whose mission is to insure and protect a company’s assets. For more information, visit travelers.com. 11 The CommunityBanker
SECURING YOUR DATA Advice From an Award-Winning Cybersecurity Team By BHG Bank Network
Technology continues to insinuate itself into almost every facet of our daily lives, whether it is personal or work-related. As a result, protecting data privacy has become increasingly more relevant to every consumer and business. In 2022, 422 million people were affected by data breaches at U.S. companies, with an average of 4.8 breaches per day.1 Stolen data included bank account numbers, medical histories, Social Security numbers and more. Personal data is continuously being collected, shared or sold, so it is crucial that everyone understands how to protect it. In today’s world, it is incumbent upon companies to ensure they have the information security protocols in place to protect customer data and electronic assets from the growing global threat of hackers. This requires a keen focus on increasing the adoption of new technological innovations and following industry best practices in the evolving world of cybersecurity. Companies with an established history of successfully safeguarding electronic data often share similar characteristics, such as: • A significant investment in people and technological resources • Executive leadership that has demonstrated its mission to make information security and data privacy top priorities • Next-generation firewall and encryption technology to protect internet connections and Wi-Fi networks • Best-in-class security software installed and updated automatically • Industry certifications and acknowledgments that appropriate security controls are in place to protect the confidentiality, integrity and availability of all data assets Security Tips To Protect Your Data In the spirit of driving awareness about the importance of being cyber-alert, and to help you protect the integrity of your data, here are some simple tips not to be overlooked: • Avoid uploading sensitive or confidential data (personal or customer account information, Social Security numbers, etc.). If you must, all information should only be uploaded to a trusted, secure source or database. • Be aware of any suspicious emails and do not click on unfamiliar embedded links. Be especially wary if an email contains misspelled words within the body and/or subject line of the message. Other suspicious indicators include unfamiliar email domains or enticements to act or respond immediately. Report these emails to your organization’s IT Support team right away. • Lock your screen when you are away from your desk to prevent others from accessing sensitive information. • Beware of public Wi-Fi. It can expose your data to scammers monitoring internet activity. It also greatly increases the risk of malware being transferred to your devices. If you must access a public Wi-Fi network, use a virtual private network (VPN) to add a helpful layer of security. • Find out if your personal information has been targeted in a data breach. It is quick and quite easy to do. Simply enter your email or phone number at haveibeenpwned.com system will respond almost immediately, detailing when and where your data was breached. • Before disposing of old IT equipment, ensure no personal data remains on the system. Consider hiring a specialist to wipe the data from the device or use deletion software such as BitRaser File Eraser or File Shredder. Your Role in Data Privacy Cybersecurity is everyone’s business. With a little discipline and practice, protecting the integrity of your data can become second nature. Nobody wants to be the person who accidentally downloads malware onto their company’s systems or who leaves their online banking credentials vulnerable to external threats. Following and regularly repeating a few simple security protocols is well worth the time to remain cyber-safe at home and at the office. BHG Financial is a financial services provider that boasts a team of seasoned cybersecurity professionals who have been recognized for their outstanding contributions to the industry. Winner of a 2022 Fortress Cyber Security Award for organizational excellence and certified SOC 2® Type 2 compliant in accordance with standards set forth by the American Institute of Certified Public Accountants. 1. https://explodingtopics.com/blog/data-privacy-stats 13 The CommunityBanker
If your responsibilities include your community bank’s bond portfolio, you’ve been confounded by several elements of its performance in the last 18 months. To the extent your portfolio has mortgagebacked securities (MBS) and government agency bonds, and the clear majority of all bonds owned by banks are in these two categories, they’ve certainly lost value since 2022. It is easy enough to put the “blame” on the Fed’s Federal Open Market Committee (FOMC), which as of this writing has taken overnight rates up fully 500 basis points (5%) since March of last year. However, something else has occurred in period that’s contributed to the decline in bond prices: Yield spreads have actually widened during this time frame, which is highly unusual for a rising rate scenario. It has aggravated the market losses in community bank portfolios, which stood at around 8% as of June 30. About one-fifth of the market losses can be attributed to spread widening. What’s going on here? Maybe it’s time to review why spreads widen and tighten, and why the various bond market sectors behave differently. If we can conclude with the notion that there are some opportunities for long-term benefit for your bank, all the better. Spread Basics First, a refresher on “spreads” in this context. It is the incremental yield for a collection of bonds, over and above the benchmarks. The benchmarks are comparable maturity Treasuries, which are presumed to be risk-free. VALUE ADDED High Baseline Yields Accompany Surprisingly Wide Spreads By Jim Reber, President and CEO, ICBA Securities VACB Preferred Provider 14 The CommunityBanker
Globally, the banking sector has gone from too much uninvested cash, to probably about right. (We don’t have time here to revisit the recent elaborate game of chicken over the debt ceiling. Notice I said “elaborate” and not “elegant.”) Incremental spreads on bonds will tend to widen as rates fall, as lower yields accompany an economy that is losing momentum. This slowdown brings with it a higher likelihood of debt service problems, so lenders, including bond investors, ask for additional yield protection. In 2023, there’s no slowdown, yet, and so the FOMC has now hiked overnight rates to their highest levels in 15 years in its quest to get inflation under control. And still, spreads are wider in virtually all bond sectors, so something different is in play. One factor is the Fed’s posturing related to its own balance sheet. Currently, the Fed is removing $95 billion per month from its own Treasury inventory. It has reserved the right to actually shed some of its $2.5 trillion MBS portfolio, but hasn’t yet. Another difference this time around is the welldocumented decline in excess liquidity on bank balance sheets, which I hasten to add is not the same thing as deposit runoff. Globally, the banking sector has gone from too much uninvested cash, to probably about right. Again, this has removed some demand from the fixedincome markets as the banking sector has purchased very few bonds in 2023. Some Sectors Are Not Like Others The callable agency market gives us a good example of how spreads are historically wide. Way back in 2021 (hyperbole), a bond that matured in three years and 15 The CommunityBanker
could be called in a year (“3/1 callable” in bond-speak) would have had a stated rate of interest of around 0.50%, which was about 10 measly basis points (0.10%) over the curve. Today, the “coupon” for the same bond would be around 5.50%, which has a full 1% spread over the threeyear Treasury. Similarly, popular mortgage securities have improved yields and spreads today over just a few months ago. A staple of community bank portfolios is a 15-year MBS issued by Fannie Mae or Freddie Mac. A “current coupon” pool has right at a 5% yield to maturity, again around 1% over the Treasury curve. A year ago? A current coupon would have been about 3.5%, and its spread around half of today’s. Act Now; Thank You It’s time to speak into the microphone and state that things can get worse before they get better. Which is to say, Treasury yields, and spreads, can continue to gap higher and wider before coming back in line. The Fed sure doesn’t sound like it’s finished with tightening, and even though banks are making use of wholesale funding sources to maintain liquidity levels, banks aren’t likely to become deluged with excess cash in the near future. Nonetheless, we have a baseline of yields (Treasury curve) that is at a 15-year high, coupled with spreads that are nearly unprecedented for this stage of the rate cycle. This causes me to suggest that your portfolio will thank you later for bonds you purchase in mid-2023. If more yield is considered good, then it’s summertime, and the livin’ is easy. Jim Reber is President and CEO of ICBA Securities, ICBA’s institutional, fixed-income broker-dealer for community banks. He can be reached at jreber@icbasecurities.com. CONTACT US TODAY! 801.676.9722 sales@thenewslinkgroup.com Your Customers Are Too. Advertising Space Available. QR Code: website /#ad-space 16 The CommunityBanker
Banks should employ profitability models to help identify when and where higher deposit pricing can really pay off for their institutions. 18 The CommunityBanker
THE VALUE OF CUSTOMER PROFITABILITY MODELING By Dennis Falk, SVP & Regional Manager, PCBB As community banks struggle to compete with the industry’s largest banks, as well as an ever-increasing number of fintechs and nontraditional lenders, offering attractive deposit pricing is key. At the end of 2022, banks were competing for $18T in deposits, according to the Federal Reserve Bank of New York. While there have been multiple rate hikes by the Federal Reserve, with July’s rate hike bringing rates to a 22Y high, deposit rates among banks have been slower to increase, although that is changing. In Q4 2022, the average Fed funds rate had climbed to 3.7%, compared with interest-bearing deposit rates of only 1.4%. As of July 17, the FDIC shows deposit rates have increased significantly in 2023. The last few years led to a widespread decrease in both deposit balances and nondeposit borrowing. Customers have also been more cognizant of where they’re putting their money. “Higher interest rates, as well as the banking crisis in March, led to an awakening of customers’ realizations of higher-yielding alternatives for deposits that may have been parked in non-interest bearing or low-yielding transaction accounts,” noted a recent bank deposit commentary from Morningstar. The tides are slowly beginning to turn back toward profitability, however, and maintaining that momentum is key. As banks seek to hold onto existing customers and attract new ones by inching up deposit rates, it is important to do so strategically. The Stakes Failing to offer competitive deposit rates could further erode existing deposit bases as customers seeking higher rates route their money to other institutions. On the other hand, banks engaging in deposit rate increases need to be careful with their approach. Many of the industry’s largest banks have been offering higher rates solely to new customers and even limiting the geographic region that new account holders must reside in. This “new money only” approach can increase the risk that existing customers will feel slighted and may spur them to move their business elsewhere. Another way that banks have dealt with deposit rate competition is by taking a passive approach, hoping that the number of customers who depart in search of higher rates is minimal. In some cases, banks wait to offer higher rates to customers in search of greener 19 The CommunityBanker
828 Main St, 15th Floor Lynchburg VA 24504 www.countsauction.com Call us for your Auction & Appraisal needs. 434-525-2991 pastures only when those clients make noise about switching banks. While it would be troublesome enough for banks if it were only the largest depositors who are motivated enough to switch banks, smaller depositors are equally focused on deposit rates. Flipping the Narrative As the saying goes, information is power. Establishing optimal deposit pricing requires not only knowing what deposit rates your peers are offering but having a firm grasp on how rate increases will impact your overall customer relationship profitability. Simply increasing deposit rates to match those of competitors is a risky move that can result in a compressed net interest margin (NIM) as deposits become more expensive, and holding onto existing customers may not necessarily require blanket rate hikes across the board. To determine when and where higher deposit rates make sense, community banks should employ profitability models that spell out exactly how various rate hikes could impact the profitability of specific customer relationships — both existing and new customers — and identify what the potential individual account losses would mean for their bottom line. Full customer profitability platforms allow banks to analyze and determine the value of both their comprehensive customer portfolios and their individual customer relationships. Such analysis can pinpoint which customer accounts are most profitable, how and where profits could potentially be improved and when, and whether the cost of higher deposit rates or exception pricing outweighs the loss of a customer’s accounts. Modeling even allows banks to project the entire lifetime value of individual customer relationships. Without modeling and a customer profitability analysis tool that can provide comprehensive customer base insight, it can be extremely difficult to determine which customer relationships truly warrant exception pricing. As always, fair and reasonable deposit pricing practices need to be considered when making pricing decisions. Holding on to existing customer deposits and attracting new ones requires competitive deposit rates, but increasing overall deposit rates is not always the best approach. Banks should employ profitability models to help identify when and where higher deposit pricing can really pay off for their institutions. Making such decisions without comprehensive information could potentially prove harmful to a bank’s profitability. To continue this discussion or for more information, please contact Dennis Falk at pcbb.com or dfalk@pcbb.com. Dedicated to serving the needs of community banks, PCBB’s comprehensive and robust set of solutions includes cash management, international services, lending solutions, and risk management advisory services. 20 The CommunityBanker
Contact us today to place your announcement ad Call 801-676-9722 Or scan the QR code to fill out the form. Who to congratulate , who to acknowledge , and who to thank for a job well done. Employees are motivated when they are recognized and feel valued. The Community Banker magazine is a great platform to celebrate your team’s accomplishments! www.bccadvisers.com WE VALUE BANKS. Business valuation for... ▪ Gifting and stock transfers ▪ Buy/sell agreements ▪ ESOP administration ▪ Estate settlement ▪ Stock offerings ▪ SBA 7(a) loans Lindy Ireland lindy@bccadvisers.com 434.333.6814 Now in Central Virginia! 21 The CommunityBanker
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