Extraordinary Banker Magazine:
The Magazine For Community Bankers:
Dear Extraordinary Banker®,
Welcome to 2014! The year is already shaping up to be one of continued change in the industry. In this issue I layout the 7 Trends That Will Profoundly Affect Community Banking in 2014.
Among them, net interest margin compression, new capital requirements and a wave of acquisitions will radically change the landscape of community banking this year. Many banks will disappear this year.
Those that have figured out how to beat rate compression by getting premium pricing, grow deposits by getting the whole relationship with every customer and use effective marketing to grab the best customers from the banks that go away will have a field day this year. Opportunity for them will be everywhere.
Also in this issue we cover the looming leadership crisis in banking. Look around. There’s a lot of gray hair in our industry. I’ve talked to bank leaders across the country who stayed on when the financial crisis hit because their next group of leaders simply didn’t have the experience to navigate the challenges.
Now, that group is ready for retirement, and they’ve earned it! But during the crisis, most banks abandoned their leadership development programs and the next batch of leaders still isn’t ready. This problem is fast becoming the biggest concern for senior leaders and boards.
In this issue we focus on the challenge of succession planning and on the development of new leaders.
To a prosperous 2014!
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