Why would you want to? You likely have a target net interest margin, and to chase high-rate deposits will distort that. I'd attack it from the standpoint of marketing the personal service your staff can provide vs. working with a computer. Offer a rate that makes sense to you and promote the "human" side of the transaction!
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John Ezell
Senior VP & Cashier
Redstone Bank
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Original Message:
Sent: 04-16-2018 11:54
From: Helen Chan DeFusco
Subject: rate increase
I see some "Internet" banks (banks that have no physical presence in the markets we serve) offering some ridiculously high CD rates. How can a small community bank compete with that?
------------------------------
Helen Chan DeFusco
EVP & CFO
Metro Phoenix Bank
------------------------------
------------------------------
John Ezell
Senior VP & Cashier
Redstone Bank
------------------------------
-------------------------------------------
Original Message:
Sent: 04-16-2018 11:54
From: Helen Chan DeFusco
Subject: rate increase
I see some "Internet" banks (banks that have no physical presence in the markets we serve) offering some ridiculously high CD rates. How can a small community bank compete with that?
------------------------------
Helen Chan DeFusco
EVP & CFO
Metro Phoenix Bank
------------------------------
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