Independent Banker - July 2019 - 10
CURRENCIES
History Lesson
How ATMs got their start
If it works for candy bars, it should work for money, right?
In June of 1967, the Beatles' Sgt.
Pepper's Lonely Hearts Club Band
was topping the charts (on vinyl,
of course). The Dirty Dozen and
You Only Live Twice were topgrossing
movies. And, at Barclays'
Enfi eld Town bank branch in north
London, a new type of machine
made its debut.
The automated teller machine,
better known as an ATM, was
the brainchild of John ShepherdBarron,
who was inspired after
Last month marked the 52nd anniversary of
the world's first ATM, which made its debut at
Barclays Bank in Enfield, England, in 1967.
observing snack vending machines. If a machine could give you a candy bar
when you wanted it, he reasoned, why couldn't it do the same thing with paper
currency? In its early British iterations, customers still had to go to bank tellers
fi rst, who issued paper vouchers printed with radioactive ink that was readable
by the machine.
By 1969, Donald Wetzel had created the fi rst ATM in the United States,
which was installed at Chemical Bank in New York City's Rockville Centre. The
machine used plastic cards similar to the ones consumers use today.
The machines continued to grow in popularity. According to the ATM
Industry Association (ATMIA), there are more than 3 million ATMs installed
worldwide, including one at McMurdo Station in Antarctica. That number is
expected to surpass 4 million by 2021.
The most popular day they're used? Fridays, of course. -Julie Kendrick
Good Reads
How are your customers
using fi ntech?
Quick stat
Small-business lending is the bread and butter of
community banks, but the needs of small-business
owners are changing, according to author Karen
Mills. In her 2019 book Fintech, Small Business
& the American Dream, Mills explores how these
businesses are utilizing fi ntech, from forecasting
future cash fl ows based on new data to supplying
lenders with clearer fi nancial information.
10 Q ICBA Independent Banker Q July 2019
36%
of respondents said they would be
inclined to electronically sign a loan
contract on a mobile device
Source: 2017 Wells Fargo survey
Photo: Matthew Chattle/Barcoft Images/Barcroft Media via Getty Images
The State of Banking
Montana
48
banking institutions
Total assets:
$37.4 billion
The Billings area has the
largest deposit market with
$4.9 billion
in deposits
Median ROA:
1.17%
Commercial real estate
has the highest loan
concentration at
176%
Source: FDIC Q4-18 statistics
Independent Banker - July 2019
Table of Contents for the Digital Edition of Independent Banker - July 2019
Table of Contents
Independent Banker - July 2019 - Intro
Independent Banker - July 2019 - Cover1
Independent Banker - July 2019 - Cover2
Independent Banker - July 2019 - Table of Contents
Independent Banker - July 2019 - 2
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Independent Banker - July 2019 - Cover3
Independent Banker - July 2019 - Cover4
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https://www.nxtbook.com/mspc/independentbanker/february2023
https://www.nxtbook.com/mspc/independentbanker/january2023
https://www.nxtbook.com/mspc/independentbanker/december2022
https://www.nxtbook.com/mspc/independentbanker/november2022
https://www.nxtbook.com/mspc/independentbanker/october2022
https://www.nxtbook.com/mspc/independentbanker/september2022
https://www.nxtbook.com/mspc/independentbanker/august2022
https://www.nxtbook.com/mspc/independentbanker/july2022
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https://www.nxtbook.com/mspc/independentbanker/may2022
https://www.nxtbook.com/mspc/independentbanker/april2022
https://www.nxtbook.com/mspc/independentbanker/march2022
https://www.nxtbook.com/mspc/independentbanker/february2022
https://www.nxtbook.com/mspc/independentbanker/january2022
https://www.nxtbook.com/mspc/independentbanker/december2021
https://www.nxtbook.com/mspc/independentbanker/november2021
https://www.nxtbook.com/mspc/independentbanker/october2021
https://www.nxtbook.com/mspc/independentbanker/september2021
https://www.nxtbook.com/mspc/independentbanker/august2021
https://www.nxtbook.com/mspc/independentbanker/july2021
https://www.nxtbook.com/mspc/independentbanker/june2021
https://www.nxtbook.com/mspc/independentbanker/may2021
https://www.nxtbook.com/mspc/independentbanker/april2021
https://www.nxtbook.com/mspc/independentbanker/march2021
https://www.nxtbook.com/mspc/independentbanker/february2021
https://www.nxtbook.com/mspc/independentbanker/january2021
https://www.nxtbook.com/mspc/independentbanker/december2020
https://www.nxtbook.com/mspc/independentbanker/november2020
https://www.nxtbook.com/mspc/independentbanker/october2020
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https://www.nxtbook.com/mspc/independentbanker/august2020
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https://www.nxtbook.com/mspc/independentbanker/june2020
https://www.nxtbook.com/mspc/independentbanker/may2020
https://www.nxtbook.com/mspc/independentbanker/april2020
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https://www.nxtbook.com/mspc/independentbanker/december2019
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https://www.nxtbook.com/mspc/independentbanker/may2019
https://www.nxtbook.com/mspc/independentbanker/april2019
https://www.nxtbook.com/mspc/independentbanker/march2019
https://www.nxtbook.com/mspc/independentbanker/february2019
https://www.nxtbook.com/mspc/independentbanker/january2019
https://www.nxtbook.com/mspc/independentbanker/december2018
https://www.nxtbook.com/mspc/independentbanker/november2018
https://www.nxtbook.com/mspc/independentbanker/october2018
https://www.nxtbook.com/mspc/independentbanker/september2018
https://www.nxtbook.com/mspc/independentbanker/august2018
https://www.nxtbook.com/mspc/independentbanker/july2018
https://www.nxtbook.com/mspc/independentbanker/june2018
https://www.nxtbook.com/mspc/independentbanker/may2018
https://www.nxtbook.com/mspc/independentbanker/april2018
https://www.nxtbook.com/mspc/independentbanker/march2018
https://www.nxtbook.com/mspc/independentbanker/february2018
https://www.nxtbook.com/mspc/independentbanker/january2018
https://www.nxtbook.com/mspc/independentbanker/december2017
https://www.nxtbook.com/mspc/independentbanker/november2017
https://www.nxtbook.com/mspc/independentbanker/october2017
https://www.nxtbook.com/mspc/independentbanker/september2017
https://www.nxtbook.com/mspc/independentbanker/august2017
https://www.nxtbook.com/mspc/independentbanker/july2017
https://www.nxtbook.com/mspc/independentbanker/june2017
https://www.nxtbook.com/mspc/independentbanker/may2017
https://www.nxtbook.com/mspc/independentbanker/april2017
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