By Jacqueline Nasseff Hilgert
Editor’s Note: Leann Stessman, 35, is the Minneapolis-based chief operating officer of Park State Bank, Duluth, Minn. Stessman, a 2016 Outstanding Women in Banking honoree, an annual recognition by BankBeat magazine, is charged with overseeing daily operations of the rapidly growing Park State Bank along with the integration processes that follow an acquisition. BankBeat editor Jackie Hilgert caught up with Stessman recently to learn more about the bank’s recent growth.
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.
By Jessica Cheney
industry is in a time of tremendous digital transformation. The question today is
what are the big steps banks need to undertake in order to meet the unique challenges
of their customers and win business.
By Alaina Webster
When considering how to connect with current and prospective customers, many banks turn to events. Host an event on launching a startup business, maybe win yourselves a few more small business loans. But hosting an event and hosting an event well are two different things, something Kelly Bauer, associate director of the Bank Holding Company Association knows from experience.
Don’t overlook equipment as an asset
By Mark Stock
As the farming population in the U.S. gets older, more and more farmers are thinking about retiring and what follows. The role of a commercial banker in the retirement process is an invaluable one: Helping their clients plan for retirement. From a farmer’s perspective, the retirement process can seem overwhelming, impacted by personal circumstances. Why are they retiring? How much money do they need to comfortably retire, and what can they do to get the most out of their assets?