Independent Banker - January 2020 - 46

investments within the loan department, including
updating its loan origination system and making workfl ow
changes to streamline the underwriting process and
simplify the loan experience on the customer side, will
help boost lending and overall revenue.
" For us, loan growth has been challenging, largely due to
the characteristics of the rural markets we bank, " Moran
says. " We're hoping that some of the changes we made will
help us to kickstart into 2020. "
The bank has invested in a deposit origination
system. The goal is to grow its deposit market share in
newer markets and protect it from poachers in more
mature markets.
" It's not traditionally competitive on the deposit side,
but over the last year or two, deposits seem to have
become more in favor within the industry, and our rural
markets haven't been left out of that, " Moran says. He
adds that Community Bank competes primarily with super
regional banks and a few sophisticated credit unions.
Prairie Community Bank is also gearing up for increased
lending. " We're focusing on loan growth this year, "
Torman says. " In 2018, we had about 8% loan growth, and
we're looking to increase that. 2019 was pretty fl at. "
Overhauling consumer-facing tech
Most community banks aren't looking to make a big
technological leap. Nearly two-thirds of respondents
(63%) plan to grow existing business lines in 2020, while
12% plan to add a new line or service.
Many community bank CEOs, Barrett included, have
Going where consumers are: online
With people living much of their lives online,
community bankers are shifting more of their
marketing dollars to digital.
While the marketing budget will increase at nearly
half of community banks and remain flat at 41%,
digital marketing will take up a bigger share of the
budget at two-thirds of community banks in 2020.
Among those planning to increase their digital spend,
40% expect to see a 5% to 10% increase in spending.
Another 40% plan to increase spending by 20% or
more. Six percent felt their previous digital marketing
eff orts hadn't panned out.
Prairie Community Bank in Marengo, Ill., will
increase its marketing budget, focusing more dollars
on digital marketing as it enters a new market, says
CEO Dianna Torman. The community bank is in the
process of interviewing potential vendors to help it
expand beyond its Facebook and LinkedIn pages and
begin using tools like Google AdWords.
First Citrus Bank in Tampa, Fla., is experimenting
with sponsored content in the online Tampa Bay
Business Journal on the advice of the community
bank's marketing manager.
" It's another arrow in our quiver we're leveraging
to elevate our profile and grow market share, " says
president and CEO Jack Barrett. " We've never devoted
46 Q ICBA Independent Banker Q January 2020
significant resources to this before.
It's a big deal for us. "
CEO Thomas Bailey of Brentwood
Bank in Bethel Park, Pa., agrees that
digital advertising is essential. He
adds: " We have to be there in the digital
space, making sure we at least get invited to the party
when people start to get serious about a product. "
Will your community bank allocate more
marketing time and dollars to digital
marketing in 2020?
18.9%
Not sure yet
14.4%
No
66.7%
Yes
Independent Banker - January 2020

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