What are current bank strategies to maintain a low cost of funds?

We have not raised our "rack rates" on any deposit products through all the fed rate hikes. ​We have looked at our deposit customers with the highest balances (i.e. municipalities / hospitals) and developed an individual strategy for calling on them to slightly adjust their rates.  We have successfully used Promontory's ICS products over the past number of months, with good success. We have created a "special" 13 month CD product and we could launch a "special" premier MMDA at some time in the future.  We get inquiries about raising deposit rates from our branch offices, but for now, we've been slow to adjust our deposit rates upward, without losing any material amounts of deposits.

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Robert Nystuen
Market President
Glacier Bank Division
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Original Message:
Sent: 04-13-2018 12:06
From: Brady Nachtrieb
Subject: What are current bank strategies to maintain a low cost of funds?

Obviously, rates are on the rise, and I would like to hear any strategies other community banks are using to offset the rising interest costs to try to maintain a low funding cost, as well as strategies that have been employed with Promontory to achieve this goal?

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Brady Nachtrieb
CFO
Stockmens Bank
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