Our CEO, Joe Sullivan, has had a busy week on the speaking circuit – three speeches this week on industry consolidation and branch transformation. Great job Joe! There is also a lot of other news in this week’s wrap-up from my Twitter feed:
Trending
Disruption in Europe: Bank of the future, @number26de, deposits €10M from @peterthiel http://t.co/FtLFYHQDjT pic.twitter.com/lI5fYuBR9d
— Jim Perry (@mi_jim) April 17, 2015
Mergers, Acquisition – Expansion, Consolidation
- PacWest-Square 1 Bank deal: Papers have been filed, merger on track http://bit.ly/1aCXZ5T
- OH’s Farmers National Bank discusses First National Bank of Orrville merger plans http://bit.ly/1JPEFPu
- Anchor Bank completes acquisition of Voyager Bank http://bit.ly/1NWJsUV
- Oregon State Credit Union building new headquarters http://bit.ly/1H91bDe
- Security Bank of California to purchase Temecula/Murrieta branch from Rabobank http://bit.ly/1DmIJEE
- PA’s Hamlin Bank & Trust to open branch in Olean, NY (pop 14,452) http://bit.ly/1CR92yX
- Home Federal Bank and First Dakota National Bank enter into a branch purchase agreement for Pierre, SD location http://bit.ly/1yv6ZoX
- As end of $2B Sterling acquisition nears, @umpquabank can “concentrate more on growth initiatives” http://bit.ly/1INYOrw
- Westamerica Bank’s Upper Lake branch closure postponed http://bit.ly/1FTgKNI
- Hampden Bank/Berkshire Bank merger approved http://bit.ly/1OdOjfk branch opened in 2011 will close, job cuts made
- US banks & thrifts have cut a net 460 in-store branches between 6/30/13 and 3/31/2015 http://bit.ly/1CJJtjl
- The North Dade Community Development Federal Credit Union was liquidated by @TheNCUA http://bit.ly/1O9PVH5
- Heartland Credit Union to close Janesville branch http://bit.ly/1GD3UWS
- Credit union merger of Eaton, KFCU approved http://bit.ly/1O6kLjM
- In CT, Newtown Savings Bank planning to relocate Main Street branch http://bit.ly/1aWAZjr
- Chattanooga, TN’s three biggest locally owned banks are all getting new owners this year http://bit.ly/1IXcA7C
- Columbus, OH-based @Huntington_Bank to unveil Pittsburgh regional banking center http://bit.ly/1GD3jEr
Branch Evolution
- Later this a.m., our CEO @mi_sullivan speaks at @NYBankers: Keep, Close or Transform: A Decision Making Framework for Branch Transformation
Marketing & Branding
Ad push by @QuickenLoans wants consumers to get over fears/apply for home loans http://t.co/wJ2n9uJckT #BUYIN pic.twitter.com/uUuJzOH4T1
— Jim Perry (@mi_jim) April 10, 2015
- Michigan’s Zeal Credit Union to hold “Zombie Math” event to teach kids how to take control of their finances http://bit.ly/1OMVOw6
- Newly merged First Florida Credit Union wins @CUNA award for campaign to roll out merger to members & employees http://bit.ly/1HeIVbx
- In North Carolina, Fort Bragg Federal Credit Union kicked off a scavenger hunt for gift cards http://abc11.tv/1IKQ9Ga #FBFCUScavengerHunt
Mobile & Digital Transformation
- The UK’s all-digital @atom_bank looks to wearable technology despite potential concerns http://bit.ly/1GT2vvb
- Lower 1st Qtr profit for @WellsFargo, but mobile banking customer growth up 19% to 14.9M active mobile users http://bit.ly/1HrIvz5
- The no land-lines/cell phone-only population has grown by 70% (to 44% of US households) since 2010 http://bit.ly/1aO0frn
- Mobile banking adoption lags in remote (rural) areas http://read.bi/1aZjcYW via @businessinsider No surprise, but valuable insights.
Industry News
- Dan Price, CEO of Seattle’s @GravityPymts raises minimum salary for all employees to $70K/year http://nyti.ms/1H6VpSp
- Credit unions in FL, IA, MA, OR and UT recently announced new president/CEO appointments. http://bit.ly/1PHhRpa via @CookeonCUs
- The Pentagon Federal Credit Union in Eugene, OR was evacuated yesterday over white-powder scare http://bit.ly/1PHhevZ
- Oregon’s MBank to abandon cannabis business, let 70 clients go http://bit.ly/1CTVlj0
- According to The Millennial Disruption Index, the industry most ripe for disruption is banking http://onforb.es/1ymzHYY
- Retired CEO of @msufcu, Pat McPharlin, becomes MI’s director of the Department of Insurance and Financial Services http://bit.ly/1GZZIz5
That’s all for this week. Please share this with your colleagues. If we missed an important story, drop me a note.