07/16/2018
The Federal Open Market Committee (FOMC) has been steadily increasing the fed funds target rate since 2015, with the most recent rate hike occurring on June 13, 2018. Despite a historically flat yield curve (28 basis points between the 2-year and 10-year treasury), the communications from the committee leave open the possibility for two additional…
07/11/2018
Legislators could have done so much more. Like you, I was hoping The Economic Growth, Regulatory Relief and Consumer Protection Act (the Act) would provide more regulatory relief for the nation’s smallest community banks. There’s still cause for celebration, however. The Act has provisions related to capital requirements, financial reporting, and the Volcker Rule that…
06/28/2018
Enhanced functionality curbs FX risk and eliminates stranded items Bangor Savings Bank, headquartered in Bangor, Maine, embodies customer experience. Founded in 1852 and driven by the motto “You Matter More”, the community bank continuously strives to create a seamless and convenient experience for the businesses and consumers it serves. Yet as a bank comprised of…
06/27/2018
The “customer experience” is getting so much hype these days it even has its own hip moniker: CX. Why is CX the hot topic right now? One reason is because tech titans like Amazon and Netflix have completely redefined it. For Amazon, Netflix, Google, Facebook and others, CX is alpha and omega, front and center,…
06/18/2018
Overall, mergers and acquisitions in the finance world have been steady in recent years. What should banks be doing to prepare if they want to be acquired? What should they be doing if they want to acquire another bank? Let’s look a little closer at this issue. Since 2014 we have seen a return to…
06/12/2018
Google recently blew Silicon Valley’s collective mind when it debuted its new digital assistant. It’s voice is so human, filled with “ums” and hip expressions and human flaws, that it’s literally impossible to tell you’re talking to a machine. And just like that, Siri, the personal robot assistant who wowed us when it came on…
06/11/2018
We’ve all been anticipating it, and now it’s likely to come down the pike this week. The Federal Reserve is set to raise the target interest rate to above the rate of inflation for the first time in the better part of a decade. The Fed rate hikes have been happening gradually, steadily since 2015….