Many small banks are well managed and provide value to their customers and investors. The more profound question for the economy is what effect the little guys have on the stability and efficiency of the U.S. financial system.
Community banks' prospects will improve if they accept that the financial services industry is changing. They must re-examine strategies and business models, and experiment and improvise to exploit new opportunities.
There may well be too many banks in the United States. ThatÂ's a problem for stock investors and CEOs of publicly traded banks to address, not policymakers.
When Sterling Bank rebranded following the financial crisis, we conducted focus groups with customers and employees. Engaging these groups ensured that any new or refined messages were believable and authentic to the organization.
Commercial loan officers must use judgment in discussions and email exchanges with property moguls, whose lawyers will construe statements and written correspondence in a way most favorable to the borrower.
The U.S. could be at a competitive disadvantage by being less proactive in the area of gender diversity on boards. Well need to engage CEOs everywhere to achieve meaningful progress.
