Independent Banker

MARCH 15, 2015

Increasingly, more digitally connected consumers are saying yes to that question with their community bank. Some even assume their bank will interact with them however and whenever they want. For many community banks, telephone calls still generate the highest volumes of customer service interactions.

Community Bank 70

Community Bank Community Operations Retail 70

South State Correspondent

MAY 31, 2023

Branching is likely your bank’s highest functional cost, just ahead of loan production. At around $75 per year for unique visitors, it’s multiple times more expensive to service customers compared to other alternatives such as online, mobile, or phone. Our point here is branching isn’t a passive activity.

Data 195

Data Branch Strategies Strategy Mobile 195

Jeff For Banks

MAY 31, 2017

Look at the decline in branches since 2009. I read a recent interview of Members 1st Credit Union CEO Bob Marquette by S&P Global Market Intelligence (link requires subscription). When asked, Marquette said of the death of the branch: "I think it's bullcrap. Elevate branch employees. Make your branches look the part.

Branch Strategies 60

Branch Strategies DC Groups Fintech 60

Jeff For Banks

DECEMBER 1, 2015

This highlights an important banking concept: revenues are mostly driven off of balances, not activity. mBank’s light branch depicted above is located in a mall. And the rest of us are increasingly buying online. All talk of visibility and foot traffic aside, the measure of branch success should be profits.

Pennsylvania 60

Pennsylvania Community Bank Community Taxes 60