article thumbnail

Predicting Community Bank Cost of Funds

South State Correspondent

Community bank cost of funds is jumping up. As shown in the graph below, the net interest margin (NIM) for community banks declined 22bps in Q1’23. The question is – what will happen to community bank’s cost of funds from here? The graph below shows community bank cost of funds compared to those banks over $25B.

article thumbnail

Tighten up your community bank’s security

Independent Banker

The pandemic forced industries to accelerate their adoption of digital applications, and community banking was no exception. And as banking processes increasingly moved online, community bankers needed to fortify their online defenses against fraud and cybercrime. In August, ICBA hosted the Bank Security Institute.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

7 ways community banks can boost profitability

Independent Banker

Here’s what community bankers need to know when planning their budgets for the next year. These days, there’s a lot to contend with as a community bank, from changing consumer behaviors due to the pandemic to uncertainty surrounding the economy and inflation. By Cheryl Winokur Munk. Quick stat. Source: 2021 Provident Bank survey.

article thumbnail

The community bank’s complete guide to building trust

Independent Banker

Building trust in your institution has a lot to do with technology, from implementing strong data security practices to humanizing your online customer interactions. But for most community banks, building a trustworthy brand isn’t a conscious effort. But for most community banks, building a trustworthy brand isn’t a conscious effort.

Community 139
article thumbnail

Rebeca Romero Rainey: Focusing on our communities

Independent Banker

Unlike our credit union counterparts, we pay taxes, and those tax dollars are spent at home to ensure our communities grow. As we kick off Community Banking Month, I can’t help but reflect on that statement and the changes of this past year. And community banks are the heartbeat of these efforts. What you need to know.

Community 103
article thumbnail

Easing SMBs’ Digital Transformations Through Online Payment Acceptance

PYMNTS

Among the numerous ways small businesses have been affected by the global pandemic, the sudden race to launch online operations has been among the most profound — and may ultimately be among the most long-lasting changes to the SMB community. “It does seem absolutely logical, up until the point that you start calculating costs.”

Online 179
article thumbnail

Building Cities With Online Platforms And Opportunity Zones

PYMNTS

Across urban and rural settings, communities are in need of investment. To that end, according to Valla Vakili , managing director and head of the studio at Citi Ventures , data can make all the difference in helping funds get where they need to go to revitalize those communities. Determining Socio-economic Needs.

Online 134