I presented a webinar on growing properly-priced long-term retail deposits last week. You can access the webinar at http://info.bsgfinancial.com/growing-properly-priced-retail-deposits?hsCtaTracking=819576b8-c5c7-4002-a51a-e99452f3f5d0%7Ca54d99f3-dcd8-429b-b463-d5ae1f66ab1f
Attached is one slide that identified what we have found to be the optimal seven steps in the pathway of attracting and retaining properly-priced retail deposits. You can see that four elements are primarily for growth; two for retention; and one specifically for margin enhancement. This sequential approach respects and incorporates the often viewed approach to relatively low-rate standard CDs and off-term promotional specials. However, by process, product, sales tools, and comprehensive training for all involved, our bankers are getting much more effective and profitable results. We welcome you to check it out.
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Neil Stanley
President of Community Banking
TS Banking Group
Treynor, Iowa
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Original Message:
Sent: 07-20-2018 07:27
From: Neil Stanley
Subject: Growing Properly-Priced Retail Deposits
With so many bankers now actively searching for ways to enhanced retail deposit growth while maintaining profitability The Financial Brand published my most recent article this week... A Competitive Weapon to Increase Deposits and Consumer Satisfaction.
With all the competitors today including the online banks and brokers like Edward Jones soliciting local depositors at rates much higher than most banks what can our banks do to retain and grow properly-priced retail deposits now?
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Neil Stanley
President of Community Banking
TS Banking Group
Treynor, Iowa
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