09/20/2017
Of course, there’s no such thing as free money, but the historically low interest rates of the past few years have been about as close as most consumers will ever get to the concept. Those low rates meant many consumers decided it was worth a few bucks in closing costs to refinance their higher-rate variable…
09/14/2017
“When I ask community banks what they excel at, I hear the same answer time and again: ‘Well, we’re a community bank,’” Paul Schaus, president, CEO and founder of bank consulting firm CCG Catalyst, wrote in an article for Bank Innovation. “That is not a niche; the vast majority of consumers don’t even know what a…
09/12/2017
The Key to Mastering the Evolving Mortgage Marketplace Mortgage application volume dropped 7.4 percent in July on the heels of the Fed raising its federal funds rate, CNBC reports. With Federal Reserve Chair Janet Yellen announcing the central banks will likely soon begin reducing its $4.5 trillion balance sheet, long-term interest rates could continue to rise…
09/06/2017
Most pets know when you don’t like them. They can sense your antipathy, but pets handle this dislike differently. I’ve found that cats, quickly dismiss people who don’t like them. Cats will quickly turn off the charm and do what they can to bug you. For example, my best friends cat routinely sneaks up behind…
09/06/2017
Before the Great Recession, most financial institutions were rolling along, reaping return on average assets (ROAA) in the neighborhood of 1.35 percent. ROAA nose-dived (along with practically every other economic and financial indicator) between 2007-2009, only to tick back up in 2010. From 2012 to 2016, the average ROAA was around 1.02 percent. In the…
09/05/2017
Every financial institution aspires to have a world-class marketing team, whether they serve international customers or small-town Americana. Yet bringing together a team with the depth, breadth and variety of skills needed can be nearly as challenging for large financial institutions as it is for small ones. Many of the talents that are increasingly critical for success…
09/02/2017
In recent years, there’s been a lot of talk in the banking industry about whether or not traditional advertising is worth the paper on which it’s printed. Some say digital is the only way to go. They say the financial services industry is a decade behind other industries with the move to digital marketing strategies…