Independent Banker - January 2024 - 40

The percentage of
banks that state
retaining younger
talent is " somewhat
challenging, " a 19%
increase from 2021.
Source: 2022 Crowe Bank Compensation and Benefits Survey
the balance in the last few years
as much. We just had a lot of
deposits to lend out. Now, we will
have to focus on balancing those
two things together.
RADCLIFFE: Our greatest
challenges are surviving and
succeeding in these diffi cult
economic times with pressures
on margins and increased
consolidation within the industry,
not just for 2024 but beyond.
Fortunately, our resources position
us to take on the challenge.
FRAZIER: The board and I fi rmly
believe that our employees are
critical to our success, so it is
the fi rst thing we focus on every
year. How can we make the
employee experience better? We
have several initiatives we're
rolling out this coming year
in the hope that they increase
retention and our ability to
attract quality talent. Then,
given the current environment of
higher interest rates, continued
" We're obviously very
excited and nervous
because we know
how much work will
go into [switching
cores]. But my staff
are entirely on board
because I told them I
would not make this
decision unless they
agreed we needed to
do it. After all, they
have to do the work. "
-THOMAS BATES, JR.,
LEGENDS BANK
demand by clients and higher
deposit rates, it will be managing
the net interest margin so we
can maintain continued good
profi tability for our shareholders
and minimize expenses.
BATES: So, I have a few areas
of focus for 2024. Obviously,
I want to have a smooth core
change. And additionally, we
have a new branch in a new
market that we want to be online
by the end of the fi rst quarter/
early second quarter in a town
called Ashland City, halfway
between us and Nashville. And I
want to refocus our eff orts in the
Nashville market. We can gain a
lot of market share in that area.
That's the main area I want to
be the most intentional, because
with a market that size and a
bank our size, you have to focus
on what you want to go after. You
can't go after everything.
Mary J. Yerkes is a writer in
North Carolina.
40 // ICBA Independent Banker // January 2024

Independent Banker - January 2024

Table of Contents for the Digital Edition of Independent Banker - January 2024

Contents
Independent Banker - January 2024 - Cover1
Independent Banker - January 2024 - Cover2
Independent Banker - January 2024 - Contents
Independent Banker - January 2024 - 2
Independent Banker - January 2024 - 3
Independent Banker - January 2024 - 4
Independent Banker - January 2024 - 5
Independent Banker - January 2024 - 6
Independent Banker - January 2024 - 7
Independent Banker - January 2024 - 8
Independent Banker - January 2024 - 9
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Independent Banker - January 2024 - 16
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Independent Banker - January 2024 - 21
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