Competing with Edward Jones

​Neil,

We are competing with Edward Jones as well.  They are offering some really attractive rates and are being very competitive in our market.  Fortunately I have a very low cost of funding so I am able to match most of the offers for now.  I am actually considering utilizing the one way sell product through Promontory to compete.  That way if I am going to lose the deposit, at least I have the ability at maturity to keep the relationship.  Currently I would be able to retain about a 20 to 25 bp fee for the one way sell.


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Copper France
President
Bank of Commerce
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Original Message:
Sent: 08-14-2018 08:17
From: Neil Stanley
Subject: Competing with Edward Jones

​Edward Jones representatives are in your markets with FDIC-insured CDs. Do you see them as competition? How are you competing with these bank offerings coming through the local representatives living in your communities? https://www.edwardjones.com/value/index.html
https://www.edwardjones.com/investments-services/stocks-bonds-mutual-funds/current-rates/index.html

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Neil Stanley
President of Community Banking
TS Banking Group
Treynor, Iowa
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