Remove Community Remove FDIC Remove Marketing Remove New Jersey
article thumbnail

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. I used Wells Fargo because it is a money market fund that I use.

FDIC 60
article thumbnail

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. Although community banks did not lend to sub-prime borrowers in any meaningful way, did we participate? trillion failed. What caused it?

FDIC 78
article thumbnail

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.