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.
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.
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 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.
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.