In a recent article for Bank Director, Jeff Grobaski, CEO of Epic River, a lending-as-a-service platform, emphasizes the unique advantage community banks have in fostering local business relationships to drive growth.
Key Takeaways:
- Community Focus: Unlike national banks, community banks have a deeper understanding of their local markets and can build stronger connections with businesses in their communities.
- Identifying High-Potential Businesses: Grobaski suggests focusing on businesses with top talent, strong community leadership, and those in growth industries, such as healthcare, green energy, and technology.
- Building Trust: Community banks can leverage personal relationships and referrals to build trust with potential business clients, offering a more personalized experience than larger institutions.
- Meeting Needs: By understanding the specific needs of local businesses, community banks can tailor financial solutions that cater to their growth and resilience.
Grobaski highlights that the pandemic-induced economic stimulus presents a unique opportunity for community banks to capitalize on their local presence and foster relationships with high-performing businesses, ultimately leading to increased deposits, loan demand, and overall growth.
Read the Original Press Release:
Bank Director - How Banks Can Leverage Local Business Relationship to Fuel Growth
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