BankInovation
APRIL 18, 2023
billion, “driven by seasonal elevation from payroll taxes, FDIC insurance expense and the cost of adding people,” Bank of […] Bank of America saw noninterest expenses increase year over year as employee and technology costs increased during the first quarter of 2023. WHY IT MATTERS: The $3.1
Jeff For Banks
AUGUST 22, 2014
My firm measures line of business and product profitability for dozens of community financial institutions, and hardly any of them make real money in retail investment sales, if they make any money at all. The most profitable program that we measure, on a pre-tax profit as percent of revenue basis, is one that is totally outsourced.
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Jeff For Banks
MARCH 5, 2021
According to my firm's profitability peer group, a branch with $74 million in average deposits made a mere pre-tax profit of three basis points. Similarly, the annual operating cost per account for a retail checking account is $398. Retail banking is heavily regulated. A very high hurdle in an LMI neighborhood.
Jeff For Banks
JUNE 2, 2023
In the late 90s, low interest rates made speculative equity investments more attractive than bonds, and at the same time, innovative internet companies grew in popularity among retail investors, professional traders, venture capitalists, and the like (familiar?). We took a serious reputational hit. credit default swaps anyone?).
MyBankTracker
DECEMBER 7, 2020
Other fees that may apply include: Expedited debit card replacement: $15 Cash deposits at Green Dot retail locations: $4.95 Outgoing wire transfers: $15 FDIC-Insured. What to Do If You Haven’t Been Paying Quarterly Taxes. The post BlueVine Business Checking Account Review: No Fees for Transac first appeared on MyBankTracker.
ABA Community Banking
OCTOBER 1, 2019
Heated competition for bank funding is an increasingly important focus for community bank leaders, according to an annual survey released today by the Federal Reserve, the FDIC and the Conference of State Bank Supervisors. The post Survey Finds Cost of Funds Top of Mind for Community Bankers appeared first on ABA Banking Journal.
Fintech Labs Insights
MAY 24, 2021
Security features (account freeze, real-time transaction notifications, FDIC insured). Other differentiating factors: Allows customers to automatically set aside a portion of revenues for later tax payments, called “Tax Bucket”. Can deposit cash via GreenDot’s “@ the Register” (retailer typically charges up to $4.95
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