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Monthly Archives: September 2019

Ongoing Effects of Tariffs Have Small Businesses Looking to Workarounds and Lenders

By Nelson Hidalgo

Whether you agree with current trade policy or not, chances are if you’re a small business owner that relies on Chinese materials and goods, you’re taking a close look at your supply chain and borrowing options. That’s because the cost of doing business for these firms is going up. That coupled with the uncertainty of how long the trade war will last means that for many companies in our own backyard, having a plan to mitigate its effects is a growing business priority. 

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For Bankers Looking to Grow Deposits, Partnering With Rural Community Banks Might Hold the Key

By Ryan Barrow

From the SunTrust-BB&T (now the recently announced Truist Bank) mega merger on down, the retail banking industry finds itself in a period of sustained consolidation. For many community and regional banks (particularly those in metropolitan areas) that are forced to compete with much larger banks and are looking to grow, an acquisition of a smaller institution or participation in a merger of equals has been the primary strategy for growing deposits.

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How to Course-Correct Your Tech Investment

By Mary Ellen Biery

When a community financial institution spends a lot of money on technology, the last thing management wants is to be disappointed. It’s actually the last thing the technology provider wants as well – if the vendor plans to stay in business.

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Remembering BankNews Publisher Joe Holman

Former BankNews Media owner and publisher Joseph Holman passed away Friday, Sept. 6. 

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Establishing a Financial Planning Offering: A How-to Guide for Banks

By Jay McAnelly

As customers save for children’s college expenses, prepare for retirement and manage their finances through other life stages, there is a real opportunity for community banks to help them reach their financial goals. In fact, a recent study from J.D. Power reveals that 78 percent of U.S. retail bank customers are interested in receiving financial advice or guidance from their bank. Community banks can position themselves to meet this need by making financial planning a part of their offering. In addition to driving customer satisfaction and loyalty, it can also create new sources of revenue and growth. If you’re a community bank leader contemplating ways to build out a financial planning capability for your customers, here are three strategies to get started.

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