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South State Correspondent
JUNE 27, 2022
Set aside the noise of cryptocurrency for a second and focus on the potential of a new digital asset, or crypto, wallet. The crypto wallet can be the centerpiece of customer engagement for Web 3.0 and can be used for a myriad of new applications.
South State Correspondent
JUNE 24, 2022
We recently posted an article ( HERE ) about how the Federal Reserve is bursting the everything bubble, and this will cause pain for some banks in the form of interest rate, credit, and liquidity risk.
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South State Correspondent
JUNE 22, 2022
Every bank wants to be “innovative,” but the truth is innovation is difficult. Add to that a bank’s resource constraints, compliance demands, budget goals, legacy IT infrastructure and talent gaps, and innovation for a bank is extremely difficult.
South State Correspondent
JUNE 21, 2022
Last week the Federal Reserve hiked interest rates by 75 basis points – its most significant hike since 1994.
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South State Correspondent
JUNE 17, 2022
A Tumultuous Week Comes to a Close. We mentioned on Monday to tighten your seat belt as it could be a wild ride this week and that prediction certainly came true.
South State Correspondent
JUNE 15, 2022
Fed Delivers a 75bps Rate Hike. The Fed relented to market pressure and raised the overnight fed funds target rate 75bps to 1.50% – 1.75%.
South State Correspondent
JUNE 14, 2022
Treasury Yields Reach Highest in a Decade. The May CPI Report continues to reverberate around the world, and in its wake are Treasury yields not seen in over a decade.
South State Correspondent
JUNE 10, 2022
May CPI Hits 40-Year High. May CPI disappointed markets with a hotter-than-expected read and that has sent short to intermediate Treasury yields higher once again. The overall inflation rate rose a full 1.0% for the month which was well above the 0.3% increase in April and higher than the 0.7%
South State Correspondent
JUNE 9, 2022
Many community banks are searching for ways to increase fee income, and many bank CEOs have concluded that fee income is a significant driver of revenue and profitability.
Speaker: William Hord, Vice President of Risk Management and Compliance
Join us as we discuss the various tangents of data and the change management process that will help you make better risk-based business decisions to save time and money for your organization.
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South State Correspondent
JUNE 8, 2022
Banks don’t respect the power of understanding customer lifetime value (CLV). It is the one performance metric with the highest correlation to long-term bank profitability, around 88%. It is more important than margin, cost of funds, non-interest income, and loan profitability COMBINED.
South State Correspondent
JUNE 8, 2022
Oil Prices Hit Cycle High, Treasury Prices Head Lower. With the Treasury set to auction $21 billion in 10yr notes this afternoon, the market finds itself on the defensive yet again with the 10yr yield back over 3%, currently at 3.02%, off 11/32nds in price.
South State Correspondent
JUNE 8, 2022
For decades community banks have structured fixed-rate loans with adjustable features – the most popular structure is a ten-year fixed-rate loan with a five-year reprice. With short-term interest rates expected to rise through 2022, many community banks are reconsidering their ALCO strategies.
South State Correspondent
JUNE 6, 2022
Investors Brace for More Treasury Supply and May CPI. Two factors will probably drive most of the price action this week and that’s long-end Treasury supply coming to auction and on Friday the May CPI report.
Speaker: Karl Camilleri, Cloud Services Product Manager at phoenixNAP
Through a detailed analysis of major attacks and their consequences, Karl Camilleri, Cloud Services Product Manager at phoenixNAP, will discuss the state of ransomware and future predictions, as well as provide best practices for attack prevention and recovery.
South State Correspondent
JUNE 3, 2022
Strong Job Growth Continues While Wage Gains Moderate. Nonfarm payrolls increased 390 thousand with those gains fairly widespread. Expectations were for 318 thousand jobs and the increase was just below April’s 436 thousand new jobs.
South State Correspondent
JUNE 1, 2022
May Data Starts to Bloom. The May ISM Manufacturing Index is due at 10am ET and is expected at 54.5 vs. 55.4. The series has been softening of late, reaching a cycle high of 63.7 in March of 2021 but trending south since then.
South State Correspondent
MAY 31, 2022
Inflation Scares Erupt Again. Treasuries open the holiday-shortened week on the defensive as the highest inflation reading on record in the Eurozone sent yields there higher. Oil prices resumed their rise and signs the China lockdowns are easing also contributed to higher yields.
South State Correspondent
MAY 27, 2022
Some Friendly Inflation News Appears. The last major piece of economic information is out this morning and April personal spending slightly bested expectations rising 0.9% vs. the 0.8% forecast but was off against March spending which was revised higher from 1.1% to 1.4%.
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Customer experience has become a key differentiator. Learn how to launch your digital transformation by incorporating two customer experience trends into your digital transformation strategy: self-service & personalization.
South State Correspondent
MAY 25, 2022
While every bank talks about delivering on their service promise, only about 35% of banks have a formal effort and track key performance indicators (KPI). It is no surprise that these banks not only have higher customer experience performance but have a higher return on equity numbers.
South State Correspondent
MAY 23, 2022
Customers and competitors are challenging community banks to extend loan duration – borrowers are eager to lock fixed rates before they rise further, and many competitors are happy to oblige.
South State Correspondent
MAY 23, 2022
Treasuries Under Pressure as Week Opens. Equities are finding an early bid this morning off news that President Biden will review the China tariff policy. That comment boosted risk assets on the possibility that some tariffs may be rolled back.
South State Correspondent
MAY 20, 2022
Events in this Cycle Have Happened Fast. With no economic releases today, and no planned Fed appearances, it could be a quiet start to the weekend. Let’s hope. For now, Treasuries are sliding from unchanged to down slightly in price with a rebound in stocks indicated.
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South State Correspondent
MAY 18, 2022
In two recent articles, we reviewed the banking industry’s deposit behavior with regard to cost of funding earning assets (COF) ( HERE ), and we compared how community banks’ COF behaves relative to national banks in a rising interest rate cycle ( HERE ).
South State Correspondent
MAY 18, 2022
If your bank truly wants to be known for service, the very first step is to get your problem resolution process right. When it comes to problem resolution, the two metrics that matter the most are the number of interactions required to solve the problem and the time it takes to solve the problem.
South State Correspondent
MAY 18, 2022
Powell’s Tough Talk Continues. We mentioned on Monday investors were going to be looking for clues both for how the economy is reacting to the early rounds of rate hikes, and also additional clues as to the path of those rate hikes.
South State Correspondent
MAY 16, 2022
Looking for Clues. Treasuries are starting the week tentatively in the green as they await more Fed speak and a look at April retail sales and housing activity. With the rise in rates and, of course, inflation the market will be looking for any sign of buckling by consumers.
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South State Correspondent
APRIL 20, 2022
It was 102 years ago, almost to the day, that Babe Ruth hit his first home run as a Yankee against his previous team, the Boston Red Sox. That hit launched a juggernaut that not only changed baseball but changed the view of both team building and risk mitigation.
South State Correspondent
MAY 13, 2022
Hawkish Fed Speak Continues. Treasuries are weaker this morning as some hawkish commentary late yesterday from Chair Powell and San Francisco Fed President Mary Daly reiterated the Fed’s commitment to squash inflation.
South State Correspondent
MAY 11, 2022
April CPI Hotter Than Expected. April CPI disappointed markets with a hotter-than-expected read and that has sent Treasury yields higher once again. The overall rate rose 0.3% for the month which was well off the 1.2% increase in March but a touch higher than the 0.2% expected.
South State Correspondent
MAY 9, 2022
The most significant problem with bank innovation is that bankers see or hear about a sexy piece of technology at a conference or at another bank and then acquire it. The new piece of technology ends up solving a known problem but, in the process, creates more problems, and risks, than it solves.
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