Independent Banker - December 2017 - 20
With Interest
Social skills-Cheryl Tanenbaum's embrace of social media has played no small part in Intracoastal Bank's success since its 2008 founding.
our reputation and get our name
out there. "
Almost 10 years later, Intracoastal
is a $314 million-asset community
bank that offers everything the big
banks offer, including checking, saving
and money market accounts, plus
IRAs and HSAs. " On the lending side,
we do a lot of commercial lending;
that's our main niche, " says Tanenbaum,
who is the bank's senior vice
president and chief financial officer.
Intracoastal has also established a
good reputation in the community.
" We built our bank by referrals and by
providing great customer service and
products, " she says.
To help spread the word, Intracoastal
uses social media-and lots
of it. When other banks steered clear
of the likes of Facebook, Twitter,
YouTube, LinkedIn, Pinterest and
Yelp, Tanenbaum took advantage of
these avenues. " I put us on Facebook
because we didn't have money to
pay for advertising, " she explains. " I
thought that Facebook is a great way
to get your name out there, and you
don't have to pay for it. "
In fact, she was so far ahead of the
Facebook curve that she had to teach
an FDIC examiner about it. " When
I first started doing [Facebook], the
FDIC was here examining us, and
[the examiner] didn't know what
Facebook was. At the time, they
weren't doing exams that included
social media, so I had to explain it all
to her and teach her. "
Though a social
media presence
is now commonplace
among most
community banks,
Tanenbaum works
to stay a step ahead.
For example, she
personally has
around 980 Twitter
followers and writes
a monthly blog post,
which she's been
doing since 2012.
20 ICBA Independent Banker December 2017
Topics have included everything
from cybersecurity to paying off
credit card debt. Customers who
visit Intracoastal's website will find a
Community News page that features
YouTube videos of two bank employees
discussing new products and
services, as well as footage of various
community events. The page also
shines a spotlight on local businesses
and bank personnel. And it's the
Independent Banker - December 2017
Table of Contents for the Digital Edition of Independent Banker - December 2017
Table of Contents
Independent Banker - December 2017 - Intro
Independent Banker - December 2017 - Cover1
Independent Banker - December 2017 - Cover2
Independent Banker - December 2017 - Table of Contents
Independent Banker - December 2017 - 2
Independent Banker - December 2017 - 3
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Independent Banker - December 2017 - Cover3
Independent Banker - December 2017 - Cover4
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