Newsflash Apr. 4, 2013
United Bank Director Inducted into Atmore Area Hall of Fame
One can hardly talk about the recent history of the Poarch Band of Creek Indians without mentioning Eddie Tullis. He was deeply involved in the Tribe’s efforts to gain federal recognition. In addition to his work with the Tribe, Tullis served in the U.S. Navy and worked for Monsanto for more than 35 and a half years, retiring in 1991. He has been involved in almost every aspect of tribal government, as well as many areas of the community. His involvement in Indian affairs reaches to the national level. Additionally, he served on the United Bank Board of Directors. He will be inducted into the Hall of Fame in May.
BankPlus: On the Move
BankPlus welcomes several staff members: Jason Bounds has been promoted to assistant vice president and loan officer in the bank’s Picayune main office. A native of Picayune, Bounds is a graduate of Pearl River Community College and the University of Southern Mississippi. Uvonda McMurtrey has been hired as legal department manager and bank officer. McMurtrey has more than 30 years of experience in the legal field and was most recently employed with Jones, Walker, Waechter, Poitevent, Carrére & Denégre LLP. A native of Terry, McMurtrey attended Hinds Community College. Marcia Reed has been promoted to bank officer in the bank’s Dalton Street office. Reed has been with BankPlus four years as CreditPlus sales manager. She attended Bethel College and the University of Minnesota. She has experience in first-time home buyer training and credit counseling and formerly served on the board of the Mississippi Home Buyer Education Center. Nathan Lucas has been hired as trust officer in the bank’s Wealth Management Group. Lucas has more than five years of experience in wealth management and was most recently employed with Regions Corporate Trust. A native of Jackson, Lucas has a bachelor’s degree from Auburn University and a master of business administration from the University of Alabama-Birmingham and is a graduate of the University of Alabama School of Law.
Small Banks Developing Ways to Compete Against Payday Lenders
More community banks are preparing to fight payday lenders and technology upstarts for a bigger share of short-term, small-dollar loans. For smaller institutions such One PacificCoast Bank in Oakland, Calif., and National Bank & Trust of Sycamore in Illinois, the battle isn't about booking loans. Rather, the goal is to win back fee income that community banks have ceded to others in recent years. National Bank is looking into offering individual clients credit lines for up to $1,000. It is also planning a tiered overdraft system, where only a small number of customers pay higher fees. One PacificCoast also has an alternative to paycheck advances. The $282 million-asset bank offers a service to employers that lets workers take out small-dollar loans.
Profits Up at CT Community Banks
The Hartford Business Journal
For Connecticut's community banks, making a buck these days isn't as easy as it used to be. With the prolonged low-interest-rate environment eroding their primary revenue source, the state's smaller lenders are trying to find new ways to make money to pad their bottom lines. Whether it's diversifying into new businesses, slashing interest rates on savings and checking accounts, selling long-term securities to make a quick yield, or even charging new fees like their big bank brethren, the state's community lenders are trying it all to remain in the black. And their strategies appear to be working, at least for now. The state's 49 community banks with less than $2 billion in assets saw their collective profits rise nearly 26 percent in 2012. The banks earned an additional $30 million in profits last year, despite seeing a 3.3 percent decline in interest income, an area that can make up as much as 85 percent of small bank earnings. Still, the profitability of Connecticut banks lags behind the national average, experts say, creating long-term challenges for the industry and putting pressure on executives to find new strategies to remain viable.
How to Utilize Your Lender as a Value-Added Consultant
Commercial banking today isn't just about loans; it involves a partnership with a bank that helps build a business. "Probably the most overused word in banking right now is relationship; everyone talks about it," says Paul Duren, Senior Vice President at Bridge Bank. "Several data collection agencies even changed their terminology from 'standard commercial loans' to 'relationship loans.' But what exactly does that mean?" Smart Business spoke with Duren about what relationship banking means and how it can translate into improved customer service as well as increased profits for your company.
Banks Ask Fed for Fewer Emergency Loans
Wall Street Journal
Borrowing from the Federal Reserve's emergency loan facility during the first three months of 2011 looked a lot like it did before the 2008 financial crisis, with little-known banks taking out relatively small short-term loans, according to data recently released by the central bank The data underscore just how far the U.S. banking system has come since the depths of the financial crisis, when emergency borrowing soared and big, brand-name banks, such as Goldman Sachs Group Inc. and Bank of America Corp., turned to it for help alongside major foreign banks. Borrowing at the discount window peaked at the end of October 2008 when borrowing in a single week exceeded $110 billion.
Leviticus 25:23 Alternative Fund - Executive Director (Elmsford, NY)
Executive Director is the chief staff member and the Fund's primary liaison to borrowers, investors, private and public funding sources, financial institutions, community organizations, and the media. S/he insures that the mission is clearly stated and understood by the staff and the Board; that all programs and policies are in concert with the organization's mission; and the mission is updated, as conditions change. The Executive Director is ultimately responsible for management and program operations, hiring and supervision of staff, interfacing with staff in specific program areas, managing the Board and its committees, and supervision of consultants, when necessary.