Beth Lawlor

With the FDIC call report data now available for the 2nd quarter of 2024, we can now see that the median bank CD portfolio yield for the quarter was 4.16%, up from 3.96% in the previous quarter. The average CD yield in the U.S. for the quarter was 4.56% when you add up all the CD interest paid and annualize it compared to the average volume of CDs during the quarter. This is up from 4.48% in the previous quarter. This means that the banks paying higher rates had a significantly greater share of the volume. Bankers might want to check out our recent publication of the Term Funding Profitability benchmark at https://lnkd.in/gM_bHrq5 To explore the Pressure Gauge for your bank or your competitors use this link https://lnkd.in/eHWXGKZ. I'd love to hear from thought leaders like Ryan Rackley, Gregory Dushan, Jeff Marsico, Omar A. Hinojosa, CFA, Steve Wofford, Christopher Nelson, CFA, Chris Nichols, Dave McNab CPA, CA, Rutger van Faassen, Preston Afrank, Alisha Crafton, Michael Daidone, Gerard Colaluca, Beth Ericson, Boris Masip, MBA, Connie Loveland, Glenn Grossman, and Tom Grottke #banking #profitability #deposits #strategy

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Join Citizens in partnership with Brooklyn Chamber of Commerce and NYC Department of Small Business Services in celebrating small business month with a free in person educational seminar on May 30th. Learn how developing a winning aspiration will help guide your business strategy. What You Will Learn: All businesses need a clearly defined strategy to execute on in order to grow and continuously improve. In this module you will review the basic steps you can take to build a winning game plan for your business to reach its full potential. #citizensColleague #smallbusiness #finance #communicate #smallbusinessmonth

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I recently finished reading Stephen A. Schwarzman’s memoir What It Takes. It’s a read that makes you stop and think. He shares how he created one of the world’s biggest companies, Blackstone, through sheer will and determination. In 1987, Schwarzman flew to Boston to meet with MIT’s endowment team. He was raising money for Blackstone’s first investment fund with a bold goal: $1 billion. Many said it was impossible, but he pushed forward. His belief is straightforward: achieving big goals is as challenging as achieving small ones. The only difference is that big goals have more significant consequences. Given that you can tackle only one personally defining effort at a time, Schwarzman emphasized that it’s important to pursue a goal that is truly worthy of the focus it will require to ensure its success. The key is focus, and you must choose a goal that deserves your complete attention and ensures success. To lead or lead not, this story inspires us to think big. It teaches us that success is possible if we believe. #LeadWithStories

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Wilmington Trust continues its growth and community involvement on Long Island! This week, our own Tim O'Mara, CFA was interviewed by Dan’s Papers for a story on our relationship with the Island’s business and investor communities. Take a look at the piece on Page 59 of the June 2024 edition and enjoy! Also, reach out to any of our team to discuss your financial goals. #wealthmanagement

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How is your financial institution approaching deposits today? To stay competitive, we need enhanced sales processes that offer products beyond the classic checking, savings, and term deposits. Pricing must be relevant to depositors while remaining profitable for financial institutions. This calls for investing in innovative deposit strategies, moving beyond traditional practices. Interested in exploring what the best and brightest are doing in this arena right now? Join us to delve into the latest trends and strategies shaping the deposit landscape. Let's navigate the evolving terrain together!

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Just as a breathtaking summer sunset in CT marks the end of a busy day, our tailored financial services bring clarity and peace of mind to your demanding schedule. Corporate Executives, Professors, and Professionals let Heritage Capital be your guiding light toward financial independence. Define your goals, and let us pave the way to a brighter financial future. #FinancialPlannning #FinancialFreedom #HeritageCapital

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Over a long weekend, I had the chance to tackle one of many books on my bookshelf, Are You Fully Charged by Tom Rath (https://lnkd.in/eWSviDm8). It’s a quick read that focuses on the age-old question — should you seek meaning or happiness? This book falls on the side of seeking meaning first, and the happiness may follow. Thoreau states this philosophy beautifully: "Happiness is like a butterfly; the more you chase it, the more it will elude you, but if you turn your attention to other things, it will come and sit softly on your shoulder"    Roth describes three keys that drive our daily well-being:   Meaning: doing something that benefits another person Interactions: creating more positive than negative interactions Energy: making choices that improve mental & physical health   Although these keys are not a surprise, they are useful reminders of some principles I know but need to keep working on. Most of the time we know what to do. The trick is to actually do it.    Here are a few more nuggets that may strike a chord.   💧Avoid Upward Comparison We know that once we reach a level of basic financial security, making more money has less impact on our well-being. We tend to judge ourselves relative to our comparison group - there are millionaires who don’t feel “rich enough” relative to their peers. Avoid “upward comparison” and you may find it easier to work for meaning and evaluate the health of your career by your own standards.   💧Don’t Respond; Initiate  How much time in a typical day do you spend responding . . . to emails, phone calls, meeting requests? What will matter later in life is not anything to which you have responded, but what you initiated today. Initiate conversations that lead to relationships. Initiate ideas that lead to better products or services. Initiate projects that improve processes and make others’ jobs easier.   💧Know When to Push Pause We have all been here; we have sent an email that we regret. It can help to understand that when you face an acute stressor, your instinct is to fight back immediately. Frighteningly, technology makes it easier to do so quickly. The more something stresses you, the more important it is to step back and take time to decide how best to handle the situation.   💧Make a Positive Mark  I agree with Rath that “the ultimate strength is finding and developing talent in others.” You can help others grow by giving meaningful praise and recognition. Take the time to give someone’s day a boost.   💧Enjoy the Anticipation Experiences bring us happiness more than material purchases. Research shows that looking forward to a vacation or event can provide more happiness than the event itself. When you are planning an event with others, share the details and plan in advance. The anticipation will bring happiness and enhance the experience itself. The first official day of summer is just days away. Wishing everyone the joy of anticipation, meaning, and warm relationships during this season!

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There are so many enhanced deposit strategies available to bankers today. You can find a list of 30 Deposit Best Practices at https://lnkd.in/g6iREQHY

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Great discussion with American Banker and Chana Zimmerman about the state of regional banking, the growth of middle market companies, and even a bit about fintech... such an enjoyable conversation.   Thanks again to American Banker and Chana for the opportunity to be on the Leaders Forum. I’m excited about KeyBank's future and our strategic path forward!  Check out the article for additional details -

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This New York Fed Report shows CDFI lending is growing exponentially, up 40% over the past five years. As a leader in the industry, we know the vital impact these investments have on community development. I'm proud of Grow America's decades-long dedication to the economic prosperity of local communities, particularly small businesses and low-income communities. Read Report Here: Examining the Origination and Sale of Loans by Community Development Financial Institutions - FEDERAL RESERVE BANK of NEW YORK (newyorkfed.org) #CDFI #CommunityDevelopment

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Do your clients know the difference between direct indexing and an actively managed SMA? Our latest viewpoint breaks down these concepts and more. https://lnkd.in/emTixy-S #Equity #FixedIncome

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Thanks to BankBeat and Jacqueline Hilgert for this feature that captures our journey and vision behind rebranding to Scale Bank. We're proud of how this transformation reflects our commitment to growth and strong client relationships. We learned so much about what our clients are looking for from their bank during the rebranding process – everything from quick response times to access to decision makers to someone who is going to take the time to understand their unique business challenges and goals. It’s banking with a human touch. We recognize that we are an active partner in our clients’ success and our role is to help them get to the next level. That’s what Scale Bank stands for. https://lnkd.in/gFwFSr44

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The failure of Republic First Bank highlights the challenges faced by banks. Three critical takeaways emerge from Republic First's failure: 1. Capital is king Republic First's demise highlights the paramount importance of robust capital levels. Like other recent bank failures, it grappled with unrealized bond losses and a high proportion of uninsured deposits. Despite multiple attempts to raise capital, the bank ultimately failed to fortify its balance sheet. In today's rising rate environment, proactive capital management is not just prudent—it's a matter of survival. 2. Proxy fights can be fatal The prolonged, public proxy battle at Republic First likely sealed its fate. For over a year, investor groups openly called for the CEO's removal and pushed for a sale, creating a climate of distraction and uncertainty. This turmoil undoubtedly hampered the bank's ability to raise much-needed capital and retain skittish depositors. While shareholder activism plays a valid role, public proxy fights can be lethal for already vulnerable institutions. 3. Daunting challenges Republic First encountered significant challenges in obtaining capital and finding a buyer. The bank's elevated reliance on uninsured deposits made it especially susceptible to losing trust. In addition, banks are experiencing rising expenses to maintain deposits and comply with the growing number of regulations, and these costs are further compounded by technology expenses. To navigate these challenges, banks must double down on proactive risk management, clear communication, and unwavering vigilance in managing capital, liquidity, asset quality, and stakeholder relations. Ncontracts #Ncontracts #riskmanagement #safety&soundness #risk

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Here is First Commonwealth Advisors 2nd Quarter Outlook. It’s a good read with interesting points around the Magnificent 7, the upcoming election, consumer debt and more. Our CIO highlights the importance of staying invested according to your long-term return expectations, all the while managing your portfolio around the edges to reduce risk. Positivity is a powerful thing. https://bit.ly/4bORwU9

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What happens when we shrink the settlement cycle by one day as required by T+1? In our latest State of the Regs blog, we dive into this topic to examine the challenges the industry is facing: http://ms.spr.ly/6048Ys8Fy #T1

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Join Citizens in partnership with Brooklyn Chamber of Commerce and NYC Department of Small Business Services in celebrating small business month with a free webinar on May 7th. Discover the many ways to finance your business at every stage and learn the five C’s of credit. What You Will Learn: There are many ways to raise capital for your business. In this module, you will better understand the many financing options available based on the operating stage of your business and the actions you can take now to build a strong credit profile. #citizensColleague #smallbusiness #finance #fivec’s #credit

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