Independent Banker - January 2019 - 42
Community Bank CEO Outlook 2019
community, was promoted to replace him. " It's been a big
process for us, over a three- to four-year process of training
people, " Marantz says.
Investing in people is a major initiative of Bank of
Springfield's long-term strategic plan. The bank has
programs for summer interns and management trainees
to identify and foster talent. That places it among the 30
percent of community banks whose CEOs say attracting
and retaining qualified staff is a great business challenge.
Rather than grow out, the Pineries Bank has grown
up, more than doubling the size of its single branch to
accommodate future growth.
The bank was founded in 1997 with three
employees. Today, it has the equivalent of 13 full-time
BOOSTING DIGITAL MARKETING
Marketing remains a significant line item at
community banks, with many realigning their
approach to fit an increasingly digital world.
Half of community bank CEO respondents expect to
spend the same amount on marketing in 2019 as they
did last year, while 45 percent expect to spend more-
most commonly between 5 and 10 percent more.
As one survey respondent puts it, " Community
banking is in vogue. Time to hit the gas. "
Meanwhile, more than two-thirds anticipate
allocating more marketing time and dollars to
digital marketing, including social media, and digital
advertising. About 30 percent of those CEOs expect
to spend 20 to 25 percent more, 10 percent anticipate
spending an additional 10 to 15 percent and 25
percent expect to spend 5 to 10 percent
more. Several say they've hired digital
managers or management firms.
The Farmers Bank in Frankfort, Ind.,
is dedicating 40 to 50 percent of its
marketing budget to digital marketing
as part of its push to increase brand
Karen Gregerson
awareness in a saturated market.
" We're making a bigger play in that
area and just started hiring a firm, " says Karen
Gregerson, president and CEO. " We're looking forward
to see what we can do to increase awareness. "
4.20%
We'll spend less on
marketing in 2019
Will your community bank spend
more or less money on marketing
in 2019?
44.76%
We'll spend
more on
marketing in
2019
51.05%
About the
same as in
2018
42 Q ICBA Independent Banker Q January 2019
Independent Banker - January 2019
Table of Contents for the Digital Edition of Independent Banker - January 2019
Table of Contents
Independent Banker - January 2019 - Cover1
Independent Banker - January 2019 - Cover2
Independent Banker - January 2019 - Table of Contents
Independent Banker - January 2019 - 2
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