Top Banks: How Do They Do It?
What would it take to rank among the top banks in the US? Bank Director’s RankingBanking study surveys the performance of the 300 largest publicly traded banks in the country, ranking by profitability, asset quality and capital adequacy. But that was not all that surfaced when researchers dug into the details of a few of the perennial top performers.
Capital One Financial Corp. (ranked 11th in the top 25) with its “strong core deposit base and high yield asset base from credit cards and other lending categories” also “attracted some of the best technologists in the country.” The study showed that Capital One “created a culture of experimentation, and driven results through a focus on data and the competition.”
Lakeland Financial Corp., a mid-sized Illinois bank that ranked 22nd in the top 25, was focused on culture and customers and “created a strong culture, rigorous employee training and serving commercial customers like no other” with a “relentless focus on the customer.”
And, The Bancorp in Wilmington, Delaware (ranked 3rd in the top 25), defined space in banking services by “handling customer deposits and transactions for some of the nation’s largest financial technology companies such as PayPal Holdings and its subsidiary Venmo.”
Regardless of what your bank does best, if you’re not a top performer, it may be time to consider a new strategy. Bank Director researchers found that a bank motivated by its customers, culture, higher-yielding businesses and efficiency will outperform its peers.
Newcleus Bank Advisors help organizations increase their performance through tailored investment strategies, expert compensation and retirement plan creation, implementation and monitoring with concierge client services that include access to our proprietary non-qualified solution LINQS+ and our internally developed and owned client serving portal MINTS. Contact us for a review of your plans and consultation for maximizing your investment performance and recruiting and retaining the best in the business to bolster your organization’s overall performance.
You can read more about the survey here, to learn more about the secrets to success for the CEOs and leadership teams at the perennial top performers identified in the RankingBanking survey.