Pub. 15 2018 Issue 4

10 O V E R A C E N T U R Y : B U I L D I N G B E T T E R B A N K S - H E L P I N G N E W M E X I C O R E A L I Z E D R E A M S By Chuck McBrayer, Regional Director, Promontory Interfinancial Network, LLC A Powerful Weapon in the War for Deposits Some say this environment could bring about a war-like scenario. Deposits were plentiful during the decade following the financial crisis, when customers shifted to cash positions. That trend is beginning to re- verse itself, but in a slightly different way, as more deposits begin to leave institutions that long held them. As the No. 1 provider of Fed- eral Deposit Insurance Corp. insured deposit sweep services and a partner to thousands of banks across the country, we hear this from banks all the time. Some advice on strategy development was shared during a recent webinar hosted by Promontory Network and Bank Director. I f you lookatfinancial newsheadlinesor results from Promontory Interfinancial Network’s latest Banking Executive Business Outlook Survey, ithasbecomeclearthat thecompetition for deposits is reaching highly competitive levels, forcing banks of all sizes to consider new strategies that position themfavorably as interest rates continue to rise and the regulatory environment transitions.