News Flash—Markets Don’t Dictate Premium Pricing [VIDEO]
Every time I meet a new bank CEO, I hear the same thing I’ve heard from thousands of other bank CEOs before. They say, “Roxanne, it’s different here.” Here, we have to...
Even though it was 20 years ago, I remember it like it was yesterday. One of the attendees at a bank CEO conference came up after my speech and began to lecture me. “There’s one distinction you’re missing, Roxanne. We bankers, we’re like sheep. The first one marches up to the ledge and falls off, and the rest march in step screaming Baaaaaahhhhh! as they fall one by one over the ledge. You have to stop believing bankers actually think for themselves!”
Since then, I’ve watched that scenario play out too often. “Geez, let’s all get a bank into a grocery store before somebody else does. No time to do a profitability analysis. Let’s mortgage homes at 105 percent… that will be fun. Hey, anybody for a behemoth amount of brokered deposits? That’ll be easier than teaching our people to not be order takers, eh?”
What’s the next crazy thing that will have the wolves at the bottom of the canyon salivating?
My prediction: it’s buying distressed banks. It’s the lazy man’s way to grow a bank. And along with it comes a capital drain, asset problems to tie up your ability to prosper for years, us-and-them wars between the merged teams stifling your ability to move forward for two years, to say nothing of the lowered safety rating just when customers are all becoming experts on bank safety!
So how do you grow in a time when loan demand has shriveled up?
It’s time to get wise. A recent new client of ours made capturing more low-cost deposits their top initiative. They had been at 120 percent loan-to-deposit. Ouch. Within four months, the CEO called and said, “Hey, that really worked. Now show us how to do this to get loans to keep up with our deposits!” If they can do it, so can you. How?
Follow these five steps:
Good points, you say. This makes sense. But dang, your people don’t really know how to capitalize on this. Why isn’t it working? Because there are five whoppin’ hurdles that make it feel like that dream where you are being chased but your legs won’t move.
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