Independent Banker - July 2021 - 65

Guest Experts:
Lending
(VIEXMRK MR PSERW JSV IZIV] MR HITSWMXW
Challenge/ Solution: With 14 locations across rural northern Iowa, First Security Bank & Trust has been a pillar of the community for
close to 100 years. Their leadership was looking for ways to keep their retail channel fresh and to build deeper relationships with
consumers. Partnering with Kasasa gave First Security a way to offer rewarding accounts and leverage the scale of a national brand.
First Security Bank & Trust was
looking to strengthen their position
as a primary financial institution
while staying true to their mission
of building deeper relationships
and helping people grow
financially. The bank's leadership
chose Kasasa because of the
national brand and the uniqueness
of their reward accounts. That
decision turned out to be spot on
as they soon discovered Kasasa
account holders with a checking
and savings account were:
* significantly more engaged and
profitable.
* nearly 20 years younger.
* much more transactional, using
their debit cards twice as often
as legacy checking account
holders.
THE KASASA EFFECT
(Analysis provided by Raddon, January 2021.)
Kasasa accounts
(n=5,387)
Legacy accounts
(n=1,519)
Kasasa benefits
Average loan balance
$9,970
$4,978
2.0x
Loan-to-deposit ratio per relationship
201%
19.7%
10.2x
Loans per 100 DDAs
19.0
12.6
+51%
Average age
41.6
61
19 years younger
Debit card transactions/month
27.4
12.7
2.2x
ACH transactions/month
7.2
6.1
+17%
By promoting Kasasa reward accounts, the bank successfully
grew deposits - but in 2020, like every bank in the nation,
their deposit growth turned into a surplus as the pandemic set
in. But something else happened. The bank also experienced
incredible growth in their loan portfolio throughout 2020,
including auto, mortgage, and agricultural loans.
Against conventional wisdom, Kasasa checking account
holders proved to be worth more than their weight in loans
- bringing in loan balances that were twice that of legacy
account holders and borrowing $2 for every $1 they deposited.
Contact info: Visit Kasasa.com or contact Ruben Ortiz,
Content Experience manager at contactus@kasasa.com to
learn more about how partnering with Kasasa can help your
community bank deepen relationships and grow your bottom
line.
Kasasa.com // contactus@kasasa.com

http://www.Kasasa.com http://www.Kasasa.com

Independent Banker - July 2021

Table of Contents for the Digital Edition of Independent Banker - July 2021

Table of Contents
Independent Banker - July 2021 - Cover1
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Independent Banker - July 2021 - Cover3
Independent Banker - July 2021 - Cover4
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https://www.nxtbook.com/mspc/independentbanker/december2021
https://www.nxtbook.com/mspc/independentbanker/november2021
https://www.nxtbook.com/mspc/independentbanker/october2021
https://www.nxtbook.com/mspc/independentbanker/september2021
https://www.nxtbook.com/mspc/independentbanker/august2021
https://www.nxtbook.com/mspc/independentbanker/july2021
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https://www.nxtbook.com/mspc/independentbanker/december2020
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https://www.nxtbook.com/mspc/independentbanker/december2019
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https://www.nxtbook.com/mspc/independentbanker/january2019
https://www.nxtbook.com/mspc/independentbanker/december2018
https://www.nxtbook.com/mspc/independentbanker/november2018
https://www.nxtbook.com/mspc/independentbanker/october2018
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https://www.nxtbook.com/mspc/independentbanker/april2018
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https://www.nxtbook.com/mspc/independentbanker/january2018
https://www.nxtbook.com/mspc/independentbanker/december2017
https://www.nxtbook.com/mspc/independentbanker/november2017
https://www.nxtbook.com/mspc/independentbanker/october2017
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https://www.nxtbook.com/mspc/independentbanker/july2017
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