August, 2011

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Bank Shorts: Sales Culture Gone Wild

Jeff For Banks

'When I was a branch manager, I fondly recall competing with a friend and fellow branch manager for the quarterly sales title. My bank, First National Bank of Maryland, had a very transparent incentive compensation system. I could calculate my own and my team''s quarterly bonuses to the penny. It was called RAISE. Recognizing Achievement In Sales Excellence.

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Cars: A Lesson in Brand Identity

Jeff For Banks

'A few weeks ago I was driving the Pennsylvania Turnpike when I noticed a sweet ride. Deep black, with flecks of blue, tan leather interior, advanced looking dash, and a pretty, well-dressed lady in the passenger seat to boot. I thought to myself, "what a handsome and successful couple". The car, as emblazoned on the trunk, was a " Genesis ". the beginning. awesome name.

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V-blog: From the desk of jfb. How should FIs use social media?

Jeff For Banks

'Financial Brand August 2010 Survey of Banks Social Media Presence [link] Frank Sorrentino’s (Twitter: @franksiii) Blog [link] Susquehanna Bank’s blog [link] Chase’s Community Giving Facebook page [link].

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Does your strategy drive your structure? I doubt it.

Jeff For Banks

'A few weeks ago I taught Bank Organizational Structure at the North Carolina Bankers Association School of Banking. The School is divided into four classes: Freshman, Sophomore, etc. My course was to the Freshman class. But the class was very diverse, ranging from junior level people to Senior Vice Presidents. This presents a challenge. Part of my task was to demonstrate “how it is” in organizational structure.

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Elevating Accounting Practices: The Power of Outsourcing and Automation in the Digital Age

Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.

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Back of the Envelope: Branch Acquisition Math Made Easy

Jeff For Banks

'On Sunday, July 31st, First Niagara Financial Group Inc. ($30.89 billion) agreed to buy 195 Northeast branches with approximately $15 billion in deposits from HSBC Holdings Plc for an approximate 6.67% deposit premium. During a conference call the next day, First Niagara President and CEO John Koelmel said the bank will divest 100 of the branches and will likely sell about two-thirds of the divested branches and close the others.

Taxes 67