The Fed decided to again keep rates steady, but that doesn’t mean the deposit market is dull.
The recent wave of industry mergers is bound to have many implications for U.S. banks, but one of the most significant is that it will accelerate the shuttering of branches across the country. The industry still has way too much capacity, and mergers — especially those with overlapping networks — provide an opportunity to eliminate capacity and improve efficiency.
New data from Novantas show that higher interest rates are affecting the relationship between banks and their commercial customers.
Steve Scruggs is the director of research and senior portfolio manager for Bragg Financial Advisors and also serves as the primary portfolio manager for the firm’s two mutual funds. The Novantas Review recently talked with Steve about his views on the banking industry.
It may seem that the old-fashioned checking account is falling out of fashion, but that doesn’t mean banks should give up on it just yet.
A new analysis conducted by Novantas demonstrates the dominance of U.S. national banks that are picking up deposits even as they close branches.
It’s no secret that every U.S. bank marketer wants to get more bang for the buck, whether acquiring retirees in Palm Beach or students in Boston.
The Spring 2019 issue of the Novantas Review is here! “The Balancing Act of 2019” digs into the top issues of the moment – from deciding which branches should be closed to the growing importance of deposits in M&A transactions.
It’s still early in the year, but 2019 is already shaping up to be tougher than many bankers expected. Deposit costs are rising fast, loan growth is uneven and mergers are accelerating the industry’s transformation.
There’s even more proof that deposits shouldn’t be taken for granted.