Step 1 of 7 14% Take this brief assessment to see how you compare to other banks in the 5 critical categories that top-of-peers master consistently. 1. Describe your process for achieving quality loan growth with premium pricing. a. 0- We are often forced to match rate to keep the deal. This has been going on for several years. b. 1- Our prospects respect our rate and we stand firm but our loan growth is inadequate. c. 2- We are consistently experiencing good growth of loans but we often concede premium pricing on quality deals. d. 3- Our funnel remains consistently full of desirable quality prospects and we enjoy a close rate of over 85% without having to match rate. A lot of community banks are in the same boat. Matching rate can feel like it’s your only option, but the good news is this: flipping the script on that reality isn’t only possible, there is a very proven and specific way we can help you get there because we’ve helped a lot of banks do the same thing. Initially their mindset is such that they let the A+ customers dictate the pricing as if that is the ultimate benefit. We show them how to get out of the commodity mindset and become truly valued and trusted advisors to their best clients, the kind of clients they can’t afford to lose to competitors.It appears you have some good starting points with your loan growth but are still lacking some key systems and processes that would ensure the kind of powerful loan growth your bank is capable of. Part of the problem is that most bankers don’t know what all of the “sub-problems” are that are causing the bigger problems and results that come from them. They only see the lack of results, so it’s more than just not knowing the answers, it’s not knowing what the specific problems and how the solutions to those smaller problems are that is adding up to the results you’re getting. We have the systems perfected to address all of them. Part of the problem is that bankers don’t know what they don’t know. So, without a professional diagnostic into the bank itself, there’s no way to cut through all of the complexity of the issues and create a customized solution that will actually fix it so that it stays fixed for years and years to come.There seem to be some solid systems in place in terms of loan growth and deal flow, but without the ability to demand and get premium pricing, it becomes sand through your fingers. Part of the problem is that most bankers don’t know what all of the “sub-problems” are that are causing the bigger problems and results that come from them. They only see the lack of results, so it’s more than just not knowing the answers, it’s not knowing what the specific problems really are and how the solutions to those smaller problems are that is adding up to the poor results you’re getting. We have the systems perfected to address all of them. Part of the problem is that bankers don’t know what they don’t know. So, without a professional diagnostic into the bank itself, there’s no way to cut through all of the complexity of the issues and create a customized solution that will actually fix it so that it stays fixed for years and years to come.That sounds amazing. In fact, you sound like one of our clients already. They are already filling their pipeline with A+ quality loan prospects and getting premium pricing without a hint of “salesy” feelings. In fact, our clients go grab other clients from other banks even if they’re not looking and close them at an 85 to 90% rate. Maybe we can still take a look and see if there might be a way to improve one of the systems within your loan growth strategy that could be lacking. We’ve never found a bank we couldn’t help. 2. Describe how you feel about your Net Interest Margin. a. 0- NIM is below 3.5.0 and has been for years with no sign of improvement unless rates drive the increase b. 1- Our NIM is above 3.5 but we often only command the premium pricing with lesser-quality loans and still have to compete on rate on the most desirable deals. c. 2- Our NIM is over 4.0 however we still often get dragged into price matching games. d. 3- Our NIM is well over 4.0 without having to sacrifice quality. We rarely match rate. Our clients tell us we’re worth more and they would never consider alternatives. It can be a helpless feeling for a lot of banks in your situation: NIM below 3.5 and has been for years with no sign of sustainable improvement unless rates drive the increase. Most likely, you’re in a situation where you’re using old “bank lingo” such as “we have good people” and “we have good service” that essentially means nothing because everyone says the same thing. You’re feeling the effects of this in your low NIM because sophisticated buyers aren’t buying it and at most may give you ten to 25 basis points more on the loan side with those platitudes. What is required to turn this around is true differentiation that matters to the customer. That can’t be overstated. You need differentiation that is tied to a sales system whereby the customer will tell you what it’s worth to them. Most banks don’t have the concrete strategies necessary to lift them out of the commodity basement in the customers’ minds. The good news is, we have those proven strategies for you to charge premium pricing that your team can be confident about communicating.Having NIM above 3.5 is a good start, but it’s precarious because you’re still not able to command premium pricing and have customers’ AGREE that it’s worth it. Most likely, you’re in a situation where you’re using old “bank lingo” such as “we have good people” and “we have good service” that essentially means nothing because everyone says the same thing. You’re feeling the effects of this because sophisticated, A+ quality buyers aren’t buying it and at most may give you ten to 25 basis points more on the loan side with those platitudes. What is required to turn this around is true differentiation that matters to the customer. That can’t be overstated. You need differentiation that is tied to a sales system whereby the customer will tell you what it’s worth to them. Most banks don’t have the concrete strategies necessary to lift them out of the commodity basement in the customers’ minds. The good news is, we have those proven strategies for you to charge premium pricing that your team can be confident about communicating.A NIM over 4.0 is good, but without the ability to confidently command premium pricing, you’re losing out on the most desirable loan terms. You may be in a situation where you’re using old “bank lingo” such as “we have good people” and “we have good service” that essentially means nothing because everyone says the same thing. You’re feeling the effects of this because sophisticated, A+ quality buyers aren’t buying it and at most may give you ten to 25 basis points more on the loan side with those platitudes. What is required to turn this around is true differentiation that matters to the customer. That can’t be overstated. You need differentiation that is tied to a sales system whereby the customer will tell you what it’s worth to them. Most banks don’t have the concrete strategies necessary to lift them out of the commodity basement in the customers’ minds. The good news is, we have those proven strategies for you to charge premium pricing that your team can be confident about communicating.Excellent! That’s the dream: having clients tell you you’re worth more and they would never consider any alternatives or desperate consolidators’ pitches. Our clients routinely get the same results and responses from their clients. Let’s compare notes. There may still be some ways we can be of service to you. 3. Describe your strategic planning process. a. 0- We put together a list of priority projects but we often miss our targets and outcomes b. 1- We clearly depict what we think we want to achieve. The “breakthrough strategies” that unlock the next level of performance are often missing though. c. 2- We plan with what we think are strategies and have a solid implementation and visibility process. d. 3- Everyone on our team would say that our “strategies”—what we do to accomplish our outcomes considering limited resources, are inspirational and powerfully unlock the next level for us. We always feel we are miles ahead of competitors and we take accomplishing everything on our plan as if each is a “promise.” Our ROA and NIM are exceptional as a result. strategic planning... 4. Describe your team culture history and where you think it is headed? a. 0- Our culture is not as healthy and vibrant as it needs to be. There are some that spread a negative energy in the office. b. 1- Our culture is fairly good. We have good people. They mean well and can be trusted to bring their “higher selves” to work each day. c. 2- We have “no time for nonsense—gossip, whining, complaining, etc.” Everyone on our team holds the others to the standards of our carefully defined values and behaviors—they are not lip service and everyone knows and sees that. d. 3- There is a “we can do anything” vibe where we take great pride in being amazing at what we do. Everyone displays a strong passion for our customers and That’s a tough situation when co-workers spread a negative energy. It can feel a bit helpless, especially when these same team members are excellent at what they do and “letting them go” isn’t always the easiest or best option. To be fair, sometimes their negative energy isn’t always “who they are” but a response to their environment. Never has the outside environment created more challenging times to stay positive individually, let alone manage a great culture, including recruiters, knocking on people’s doors and the stress and strain of what’s going on outside the workplace. It’s deteriorating the joy, the resiliency and the confidence of your people. You combine that with the need to increase their performance and things really start to unravel. The way most people interpret “increase the performance” is more work, longer hours. So, they are harder on themselves and burnout is just around the corner. Your team is in for a refreshing load off their shoulders when they find out that high performance is actually a whole lot less work when they discover how to stop pushing a rope up a hill. A great culture goes far beyond a happy place to work to one that makes a significant impact on the community and the customers they reach and teach. They also pay for themselves because everyone knows exactly how they tie to profit for the company. Business Week did some research that showed that 9 out of 10 employees believe they perform in the top 10% which proves that in their minds, performance = “work hard.” There is a better way and we’re excited to share that with you. A resilient, joyful, purposeful culture that rocks makes everything better. It lays the foundation for every other system to be implemented without resistance. That’s a fantastic place to be: having the kind of culture that is individually dynamic and everyone is pulling their own weight without the typical gossip and backbiting that can happen. The question then becomes, “how does my team respond to invitations to “better perform?” Also, how do they respond to external environmental challenges and how does that affect the internal culture? Never has the outside environment created more challenging times to stay positive individually, let alone manage a great culture, including recruiters, knocking on people’s doors and the stress and strain of what’s going on outside the workplace. It’s deteriorating the joy, the resiliency and the confidence of your people. You combine that with the need to increase their performance and things really start to unravel. The way most people interpret “increase the performance” is more work, longer hours. So, they are harder on themselves and burnout is just around the corner. Your team is in for a refreshing load off their shoulders when they find out that high performance is actually a whole lot less work when they discover how to stop pushing a rope up a hill. A great culture goes far beyond a happy place to work to one that makes a significant impact on the community and the customers they reach and teach. They also pay for themselves because everyone knows exactly how they tie to profit for the company. Business Week did some research that showed that 9 out of 10 employees believe they perform in the top 10% which proves that in their minds, performance = “work hard.” There is a better way and we’re excited to share that with you. A resilient, joyful, purposeful culture that rocks makes everything better. It lays the foundation for every other system to be implemented without resistance. That’s a great start, having good people that bring their “higher selves” to work each day. That shows you they are always willing and are committed to the success of the bank. However, sometimes even with that commitment, it’s difficult over time when they don’t see results or when their environment starts chipping away at their resolve. Never has the outside environment created more challenging times to stay positive individually, let alone manage a great culture, including recruiters, knocking on people’s doors and the stress and strain of what’s going on outside the workplace. It’s deteriorating the joy, the resiliency and the confidence of your people. You combine that with the need to increase their performance and things really start to unravel. The way most people interpret “increase the performance” is more work, longer hours. So, they are harder on themselves and burnout is just around the corner. Your team is in for a refreshing load off their shoulders when they find out that high performance is actually a whole lot less work when they discover how to stop pushing a rope up a hill. A great culture goes far beyond a happy place to work to one that makes a significant impact on the community and the customers they reach and teach. They also pay for themselves because everyone knows exactly how they tie to profit for the company. Business Week did some research that showed that 9 out of 10 employees believe they perform in the top 10% which proves that in their minds, performance = “work hard.” There is a better way and we’re excited to share that with you. A resilient, joyful, purposeful culture that rocks makes everything better. It lays the foundation for every other system to be implemented without resistance. Wow, congratulations! Sounds like your bank is comprised of culture experts that are in tune with what it takes to take the overall bank performance to a whole new level. Since your culture seems to be ideal, there may be other systems your bank may stand in need of improving. 5. Describe your cross-sales process, average and results: a. 0- Our cross-sales ratio for new accounts is around 2.2 (the national average) and our people tend to lack either the skills or the confidence to capture the entire relationship at the inception of the relationship. Or we aren’t sure—we’re not measuring cross-sales on new accounts—only the services per household. b. 1- We have several people who are good at owning the entire relationship with clients but we still have many who remain “order takers” despite our best efforts and pleas to get better. We feel vulnerable that their other financial institutions will cause us to lose business or have to match rates. c. 2- Our education and systems to improve cross-sales (the ultimate measure of trust) is working to some degree. We currently average between 3 to 4. d. 3- We’ve got this. Our people AVERAGE over 5 or 6 cross-sales every month. We have systems in place that allow us to far exceed the average. As new people start, they are immersed in learning how to deepen the relationship with prospects and customers and feel strongly that cross-sales ratio is the ultimate measure of trust. We’ve taken the words “Trusted Advisor” far beyond lip service. As people exceed 7 or 8 cross sales regularly, they are then assigned to our Top 100 most profitable clients and they substantially deepen the relationship with every encounter as appropriate. Cross sales Enter your best email to receive your results and see how you stack up against your peers in the same categories…(Required) Δ
