Austin-Based Bank Consulting Firm Abound Resources Releases Its Insights into 2014 Survey Results for Community and Small Regional Banks
Austin, Texas (PRWEB) January 27, 2014 -- Abound Resources, a leading bank consulting firm, today released the results of its recent survey of community bank executives. The results highlight that community and small regional bank CEOs are cautiously optimistic for 2014, despite ongoing challenges in the regulatory and economic environments.
In 2013, only 28% of CEOs were “somewhat or very optimistic” about the upcoming year in banking. However, heading into 2014, 59% of respondents indicated they felt “somewhat or very optimistic” about the coming year even in the face of an increased regulatory burden and an uncertain interest rate environment.
“This year bank CEOs are decidedly more optimistic than they have been since 2011,” said Brad Smith, President and CEO of Abound Resources. “In our conversations with bank CEOs, the majority realize that they can do even more to position their bank to rise above economic and regulatory challenges and remain profitable and relevant in 2014 and beyond.”
The regulatory burden and the interest rate environment lead the list of major concerns for 2014. The list of major concerns also included weak loan demand, efficiency, non-interest income, and credit quality, although credit quality ranked at the bottom of that list for the first time since 2010.
In terms of setting growth priorities for 2014, growing commercial loans remained at the top of the list from 2013, followed by expanding the online presence and improving the small business market share.
On the operating side of the equation, streamlining workflow for greater efficiency remains the top priority for the third year in a row.
2014 promises to be another year when banks continue to try and use their technology for greater efficiencies. “But for community banks and small regional banks,” says Smith, “it appears to be less about leveraging technology to offer innovative products and services, but more about keeping pace with larger banks.”
A complimentary copy of a White Paper analyzing the complete survey results and Abound Resources’ top five strategies for 2014 is available for download at http://www.aboundresources.com/community-banks-insights-into-2014-survey-results/.
About Abound Resources
Abound Resources is a full service bank consulting firm with the sole purpose of helping community banks achieve their goals - whether those goals are for growth, efficiency, technology or risk management. In fact, we guarantee it.
Abound Resources offers an array of services designed to improve performance and profitability and help community banks cope with an increasingly stringent regulatory environment.
Beth Dalton, Abound Resources, http://www.AboundResources.com, (512) 351-3703, [email protected]
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