Savings Bank of Walpole and New Hampshire Mutual Bancorp believe merging help them preserve a banking model that has faced pressure in recent years. The CEO at Savings Bank will also replace New Hampshire Mutual's retiring leader.
One problem is that banks are shifting to online and mobile channels for delivering advice, which is inferior to in-person communications, according to a recent survey conducted by J.D. Power.
National Credit Union Administration Chairman J. Mark McWatters made an appeal to credit union executives to work with small community banks when it comes to advocating for shared goals.
The digital-only Ally Bank has taken several steps to deepen customer relationships through electronic channels, including use of personalized emails and websites that have yielded strong click-through and loyalty rates.
A decision by the Federal Deposit Insurance Corp. — soon to be under new management — on Square’s ILC application could foreshadow how other fintech firms seek banking powers.
