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A Time of Reckoning for Your Bank's Core Deposits?

Jeff For Banks

So worries New Jersey Banker's Association CEO John McWeeney since state-owned bank advocate Phil Murphy was elected governor. The state's municipal deposits approximate $20 billion , $13 billion of which are in community banks. I got news for you John. When they bought Strong Asset Management. FDIC insured.

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Predicting the Next Banking Crisis Is a Fool’s Game. Not Learning From the Last One: Equally Foolish

Jeff For Banks

//Jeff Marsico remarks to the 2023 New Jersey Bankers' Association Annual Convention: May 19, 2023// Four decades ago, the prolonged savings-and-loan crisis devastated the industry. To you, manage your interest rate risk. Although community banks did not lend to sub-prime borrowers in any meaningful way, did we participate?

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The Elephant in the Room: Branches

Jeff For Banks

The recently released FDIC Summary of Deposits showed the second year of branch decline. This dates back to an interview I did with American Banker about a community FI that was opening coffee shop branches. The community FI may not have this luxury. That''s right. old people letting their fingers do the walking.

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Top News In Payments: Elavon To Buy UK Gateway Sage Pay; Germany To Make Digital Payment Providers Open Systems To Rivals

PYMNTS

recorded its fourth bank failure this year — the first collapse of financial institutions since 2017, per Federal Deposit Insurance Corp (FDIC) data. 1 when City National Bank of New Jersey closed its three branches. Resolute Bank closed on October 25 and Louisa Community Bank also shuttered on that day.

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