Jackie Stewart is the executive editor of American Banker Magazine. Previously, she covered breaking news, community banks and mergers and acquisitions for American Banker before being named as the managing editor of the Credit Union Journal. After graduating from Northwestern University in 2006, Jackie taught for two years in the Bronx, N.Y., through Teach for America.
Many banks already offer the right products and services but fail to properly market them to younger customers.
More small banks are engaging on social media and are finding ways to highlight their community involvement, promote their personalities and better connect with customers.
More banks have already gone public in the first half of this year than all of 2013, but a close look at the performances of those IPOs raises some questions.
Regulation, succession planning and lending limits are huge issues, particularly for banks with $100 million or less in assets. As a result, more of those banks are taking a hard look at selling themselves.
The Consumer Bankers Association believes banks and retailers need to have constructive conversations on security following last year's Target security breach.
As more community banks look at working with alternative lenders, they must be mindful of the regulatory and reputational risk that can occur if they make a bad referral.
Establishing mentoring programs and better employee communication, drawing on the expertise of nonfinancial companies and holding special events aimed at women business owners are some of the ways banks can develop more women executives and clients.
A growing number of community banks are experimenting with traveling employees and student part-timers to cut branch expenses.
Community banks are starting to regain some traction when it comes to bringing in fees from deposit accounts. The Federal Reserve Board dealt banks a setback in July 2010 with Regulation E, requiring customer permission for enrollment in overdraft programs. It wasespecially harsh on smaller banks, which have historically struggled with noninterest income.
The money a household has to deposit into a bank account would decrease by an average of almost 55% if U.S. tax cuts are allowed to expire, an analysis from Market Rates Insight found.
TD Bank Group has agreed to buy asset management firm Epoch Holding (EPHC) for $668 million in cash, giving the Canadian company the U.S. asset manager it had been looking for.
Delaware County Bank & Trust in Lewis Center, Ohio, is the latest bank to add private banking in an effort to court more high-net-worth customers.
Canadian Imperial Bank of Commerce has agreed to buy MFS McLean Budden's private-wealth business.
JPMorgan Chase shuffled some of its high-ranking executives and streamlined its investment and retail banking operations Friday.
Bank industry experts this week offered several suggestions for how Jamie Dimon should go about repairing JPMorgan Chase's reputation, after a London trader's bets lost the bank at least $2 billion.
As it expands its U.S. branches, Toronto-Dominion is hoping to sell more products to existing customers and to emulate its cross-selling success in its home country of Canada.