Tuesday Topic: The Battle for Online Deposits

For consumer accounts, excluding rural markets with poor internet access, is there really such a thing as a 'local deposit market' anymore?

If you're competing on rate, you're going to lose unless; a) you are willing to pay a rate within some minimal deviation from the highest rate(s) offered nationwide, and b) you're able to deploy those deposits into earning assets that have a yield capable of supporting the high rate you are paying on deposits.

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Erik Beguin
President & CEO
Austin Capital Bank SSB
Austin TX
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Original Message:
Sent: 10-08-2019 09:15
From: Barb Rehm
Subject: Tuesday Topic: The Battle for Online Deposits

Despite two rate cuts and the prospect of a third later this month, the competition for online deposits continues to intensify. American Banker takes a detailed look at the players and their strategies. 

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Barb Rehm
Senior Managing Director
Promontory Interfinancial Network, LLC
Arlington VA
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