COVID-19 has created the greatest economic threat to community banking since the Great Recession. Record numbers of loans are on deferral or forbearance status. Some will translate to losses, putting pressure on income, loan loss reserves, and capital. Business customers aided by PPP loans may still fail. Net interest margins continue to shrink while compliance and technology costs continue to grow. Regulatory scrutiny of asset quality and management systems will intensify. Pandemic driven acceleration of remote banking makes large banks and fintechs even more formidable competitors than they already were.
But there are tremendous long term opportunities for community banks and credit unions that can navigate today's unique challenges while simultaneously building for the future. Helping you develop practical strategies and manage change to meet your objectives is what I do.
It's who I am.
"CHANGE IS THE LAW OF LIFE, AND THOSE WHO LOOK ONLY TO THE PAST OR THE PRESENT ARE CERTAIN TO MISS THE FUTURE"
-John F. Kennedy