Driving Up Deposits

I believe funding is the single biggest threat to community bankers due to emerging fintech options and the price competition. We're trying to get really creative with customer benefits that extend beyond rates, including discount office/cooffice space, marketing and other collaborative opportunities.

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Jill Castilla
The Citizens Bank of Edmond
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Original Message:
Sent: 12-21-2017 16:09
From: Barb Rehm
Subject: Driving Up Deposits

Liquidity is never far from a banker's mind so we surveyed CEOs and CFOs about their strategies for increasing deposits.

Our Bank Executive Business Outlook Survey, conducted online during October 2017, found bankers looking to boost liquidity are overwhelmingly focused on increasing core deposits.

Of the 389 bankers who completed the survey, nearly 20% said they will use higher rates to attract core deposits. The next most popular strategy, at 16.5%, is winning the cash management business of commercial customers. Coming in third, at 13.8%, is deepening relationships with their customers. Beyond core deposits, bankers responding to the survey said they planned to either use more wholesale funding or turn to new or improved deposit products to increase liquidity.

What is your bank doing to attract funding?

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Barb Rehm
Promontory Interfinancial Network
Arlington VA
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