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• W289143198 abstract "If you had to bring the retail deposit-gathering challenge down to one, simple image, it is this: a chair. As in the kid's game of musical chairs. Because at the end of the day, unless your bank is very, very lucky in its clientele and market, that is the game you are playing. You win CDs and checking accounts round by round, but never forever. When the music starts, everyone begins to circle again, and the emcee takes away another chair. Of course, since banks don't get knocked out of the game, it's not that simple. It's as if, to make the game even more fun, the rules change now and then. Sometimes a chair gets put back. Sometimes a few players leave the room temporarily. But in the end, it's all a battle over increasingly scarce seats. Retail fundamentals shifting Speaking at ABA's recent Annual Convention, consultant Thomas Farin asked bankers if they had checked the average age of their CD holders lately. Farin, of Farin & Associates, Fitchburg, Wis., says that many bankers will find that those savers are older. He warns that much of those CD funds will be gone permanently when the older generation's wealth passes into the hands of Generation Xers and Yers. Money is moving into 'nonmaturity deposits', says Farin--that is, liquid forms such as money market deposit accounts that can easily shift to other institutions with no warning. Some bankers have come to the conclusion that this game is a bore. They haven't abandoned retail funding, but they are increasingly exploring alternatives. Rockwell Clancy, director of planning and development for Sheshunoff Management Services, Austin, Texas , believes bankers are learning to segregate various strata of deposits by the draw that brings them in, which further complicates the game. CDs are a faucet turned on and off by rates, pure and simple, he says. Checking accounts, beyond those that can be moved by free-checking premium programs, hinge mostly on life changes such as divorce or relocation, or, where this isn't the case, frustration with one's current deposit institution. Finally, says Clancy, these bankers are recognizing that if a bank is going to continue playing the retail deposit game, it must be cannier. Where convenience can substitute for rate, that must be considered, for instance. And for those who must pay up because they need to fund aggressive loan growth, says Clancy, they increasingly look to do it in a way that won't roil the local market. Bank within a bank In 2001 the baseball-beverage-and-banking Pohlad family sold off all but one of its banking properties. Renamed Meridian Bank, N.A., the surviving Pohlad bank, $747 million-assets, stresses business relationship banking. Based in the Phoenix area, Meridian also operates seven specialty finance companies which also require funding. Management found that, increasingly, retail deposit growth in the market was insufficient to keep up with the loan growth enjoyed by both the bank and its finance affiliates. To solve this challenge, about three years ago the bank formed a special headed by its CFO, William E. Bonds, to concentrate on funding methods. This division does business as Marqbank. Meridian's parent is Marquette Financial Companies, the private Pohlad finance and real estate company. Essentially, we're the wholesale funding subsidiary of the bank, kind of a treasury division, says Bonds, who is CEO of the Marqbank operation. Bonds and his small knot of associates are based in the Houston area, a legacy of the old Marquette banking network's days, when its lead bank was in Texas. Marqbank was established as a separate brand of deposits in order to avoid cannibalizing local deposits, Bonds explains. Marqbank uses many different gambits to raise money, which, given strong growth in the financing subsidiaries, Bonds likens to just in time inventory management. …" @default.
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• W289143198 date "2005-11-01" @default.
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• W289143198 title "The Funding Game Gets Tougher: I Can Get It for You Wholesale Is Coming to Be a Familiar Motto for Bankers Who Find That the Days of Easy Retail Funding Are Fading" @default.
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