Independent Banker - January 2022 - 44

2022 COMMUNITY BANK CEO OUTLOOK
Technology is on community
bankers' to-do lists
Technology is both a challenge and an
opportunity for community banks in 2022.
A quarter (24.9%) believe keeping up with
technology needs or advancements will
it a challenging labor market,
especially for frontline tellers and
administration staff, it sees an
opportunity to lure away dissatisfied
bankers from bigger banks that
have either exited smaller markets
in Louisiana or drastically reduced
be a top challenge for their institution this year, while more
than a third (35%) view investing in digitalization as their top
business opportunity.
" There are so many changes happening in our industry that
as a banker you have to be mindful [of them], but at the same
time the pace of change can be a little bit overwhelming, and
the options are so vast, " says R. Blake Chatelain, president and
CEO of Red River Bank in Alexandria, La. " For us, we're trying to
stay focused on determining the right technology that we need
to be offering to serve our target customer base, and we just
have to be cautious and not chase every new shiny object. "
This year, Red River Bank will enhance its mobile banking
and treasury management services and automate more backoffice
operations. Ponce Bank also plans to enhance its mobile
app and its online banking site, making the channels more
user-friendly, says president and CEO Carlos P. Naudon. To be
successful, the community bank in Bronx, N.Y., will need to
teach customers who are unfamiliar with technology on how to
use-and trust-these digital channels.
Community Bank of Santa Maria is expediting a planned
conversion of its core to gain efficiencies as the Santa Maria,
Calif.-based bank grows, says president and CEO Janet Silveria.
" When you first buy a core system, technology in general
advances, and you start picking up all these products along
the way, like imaging processes and mobile banking products, "
she says. " Right now, we have a whole bunch of components
that don't talk to each other very well, and that challenges
workflows. By accelerating the conversion, we're going to get
a better workflow of all those components pieced together so
they can talk to each other better. "
Badger Bank in Fort Atkinson, Wis., recently formed a
new relationship with a merchant services provider and is
considering instant card issuance, as well as implementing
an enterprise risk management (ERM) tool- " a real buzz with
regulators, " president and CEO Steve Dehnert says.
" We're looking at a fintech ERM product that is very intuitive,
and I think it's going to be a great tool for us, " he says. " For a
small bank like ours, it's unusual to go that far, but we think it
will improve efficiency, increase profits and reduce risk. "
in-person services, Chatelain says.
" A lot of customers aren't happy
about that, and a lot of bankers
aren't happy as well, " he says, " so we
continue to add experienced bankers
to our team. "
Using deposits in 2022
Several things were not much of
a concern at all for bankers in the
survey. For example, just 2.1%
are worried about direct effects of
COVID-19 and only 4.2% feel they
need to grow deposits in 2022.
" We're flush with deposits. It's
crazy how much our deposit base
Do you anticipate a senior
executive leadership change,
such as a retirement, at your
community bank in 2022?
70.8%
No
18.5%
Yes
10.7%
Not sure yet
44 Q ICBA Independent Banker Q January 2022
Independent Banker - January 2022

Table of Contents for the Digital Edition of Independent Banker - January 2022
