Independent Banker - November 2020 - 62

much smaller than legacy branches,
some of which are more than 4,000
square feet.
Broadly speaking, banks are
incorporating more tech into branch
locations to maintain relevance.
However, Schoenemann says, the
scope and purpose of that tech will
vary depending on the bank location
and the customers it serves. Some
branches may be fully automated with
self-transaction tools, self-education
tools and minimal staff on hand to
assist with that technology. In other
cases, technology may be used to
empower the employee-customer
engagement with things such as
tablets or laptops that are used to
walk a customer through a digital
loan application.
NO ONE-SIZE-FITS-ALL APPROACH
What a community bank's future
branches look like depends on the
banks themselves. Banks need to
have a deep understanding of their
customer base, their expectations
and what is important to them in a
banking relationship. That means
they need to do sophisticated analysis
of who their customers are and how
that aligns to market profiles to figure
out how to best position physical
branch locations.
" Without a really good
understanding of who your customers
and target customers are, you can't
really put the right things in place,
or you will miss the mark, " says Tim
Klatt, director of retail strategies at
La Macchia Group.
It's also important to emphasize
that physical branches still play
an important role for community
banks. For example, face-to-face
teller transactions at Sanibel Captiva
Community Bank in Sanibel, Fla.,
dropped significantly in April and
May but rebounded in June and
July. In fact, the number of teller
transactions was on par with July
2019. " We have a lot of customers
who are retired and love coming
into the branch to talk to people, "
60 Q ICBA Independent Banker Q November 2020
" WE HAVE
FOUND
THAT OUR
CUSTOMERS
WANT TO
HAVE A PLACE
CLOSE TO
WHERE THEY
LIVE WHERE
THEY CAN SIT
DOWN WITH A
BANKER AND
DISCUSS THEIR
FINANCES. "
-BILL DAY
FROST BANK
says David Carleton Hall, executive
vice president, chief financial officer
and chief operating officer at the
$566 million-asset community bank.
Sanibel Captiva Community
Bank recently opened its eighth
location in Fort Myers in a renovated
16,000-square foot building that
will serve as a combined operations
center, with a branch occupying about
a quarter of the building.
" Quite frankly, we look at branches
quite differently than how a big bank
would, " Hall says. " We know that for
us to make an impact in a particular
community, we need to be there. So,

Independent Banker - November 2020

Table of Contents for the Digital Edition of Independent Banker - November 2020

Table of Contents
Independent Banker - November 2020 - Intro
Independent Banker - November 2020 - Cover1
Independent Banker - November 2020 - Cover2
Independent Banker - November 2020 - Table of Contents
Independent Banker - November 2020 - 2
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Independent Banker - November 2020 - Cover3
Independent Banker - November 2020 - Cover4
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