Can Community Banks Compete?

/in , , , , , /by

More than 10,000 banks have vanished in the last forty years and the trend is frightening as we get close to 4,000 banks left in our country.

Some of the reasons for this drop can easily be explained such as bank failures and mergers of multi-bank holding companies. Of course banks in rural markets have sold as bank owners get older and no family member is there to continue the family legacy. But, many banks sell because they think they no longer can compete with larger banks. This is nonsense!

Bank regulations are never ending and continue to hamper the ability to compete. Costs associated with running the bank such as core processing, compliance and employee expense seem to rise each year. What can be done about it? Have you turned over every rock to see what other banks are doing?

Strunk is an expert in delivering fee income and net interest income programs that hundreds of banks have implemented. We have a variety of services that have been time and market tested. Overdraft Privilege is the program we are best known for with over 1,800 bank clients.

Secure Checking is the “overdraft privilege” of the 2020’s. It will deliver similar fee income as ODP did in the 2000’s. Our loan and deposit pricing tool will deliver similar numbers to the bottom line in the way of net interest income.

Strunk is here to help banks make more money. Contact Strunk at 800.728.3116 or email at info@strunkaccess.com to learn more about income programs offered by Strunk. You will be glad you did.

An independent certified public accountant has examined Strunk’s operations and found them to be in compliance with the AICPA’s Trust Service Principles. It was determined that Strunk meets the Security, Availability, Processing Integrity, Confidentiality, and Privacy criteria for SOC 2 established by the AICPA.