You really can't. They have a completely different business model than we do. If you can't match their cost structure you can't afford to compete with them on rate. We have to be able to sell the value proposition of a community bank, not pricing, to succeed.
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Eric Gardey
Chief Financial Officer
Alpine 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?
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Helen Chan DeFusco
EVP & CFO
Metro Phoenix Bank
------------------------------
------------------------------
Eric Gardey
Chief Financial Officer
Alpine 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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