The short month of February has gone by so fast. Perhaps it is because there has been so much going on in the financial services industry. Can we say disruption?! Here’s this week’s recap from my Twitter feed:
Trending
Bye bye, bank tellers: Why digital banking is the future http://t.co/bxbrBTSVGf via @redletterdave @businessinsider pic.twitter.com/HpkzT47c0B
— Jim Perry (@mi_jim) February 27, 2015
Mergers, Acquisition – Expansion, Consolidation
- Tulsa Federal Credit Union to open three new branches in Reasor’s grocery stores http://bit.ly/1zljGfQ
- Patelco Credit Union confirms plans to leave Castle Commerce Center in Atwater, CA http://bit.ly/1C3G04O
- MI’s Credit Union One to absorb Good Shepherd Credit Union http://bit.ly/1zKkCf1
- Bellingham, MA branch of Milford National Bank to close http://bit.ly/1ETlB03
- Follow up: while @Chase plans to close 5% of U.S. branches; Chicago to be spared http://bit.ly/1BmMk7C
- Fort Branch, IN’s Old National Bank branch is scheduled to close, but the drive-up ATM will stay in operation http://bit.ly/1zhlJ4C
- Follow up: @umpquabank decides against adding Brownsville, OR (pop. 1,668) bank branch http://bit.ly/1zKizaK
- NJ’s OceanFirst Financial Corp. to acquire Colonial American Bank http://on.app.com/1LLtecM
- Branch closures at @Chase prompt @247WallSt to ask “Will American Banks Close Thousands of Branches?” http://bit.ly/1BbPfyi
- Shareholders of NC’s Premier Commercial Bank approve merger with NewBridge Bank http://prn.to/1vytk3p
- Risk management faulted at Canadian Imperial Bank of Commerce; bank warned on acquisitions in US http://on.wsj.com/1LAqFZj
- Community Bank strengthens presence in CNY with Oneida Financial Corp. deal http://bit.ly/1ArgpAP
- JPMorgan to close 300 bank branches http://usat.ly/1w8P94O “Scale has always defined the winner in banking”
- Florida Community Bank to open 2nd Fort Lauderdale branch http://bit.ly/17S6OaH Reminds me of these FDIC stats:
- Pacific Commerce Bank and Vibra Bank announce shareholder approval of merger http://bit.ly/1vuRAUi
- Since Jan. 1, banks have filed closing notices w/Office of the Comptroller of the Currency for 200+ bank branches http://bit.ly/17pOplA
- Regulators approved a proposed merger between Greenfield Cooperative Bank & Northampton Cooperative Bank in west MA http://bit.ly/1EmpRXR
- Alabama’s Five Star CU plans second bank purchase http://bit.ly/1Lu90T3 via @CookeonCUs
Branch Evolution
- Wells Fargo holds fast to branches, ties them to digital channel http://bit.ly/18i1bnj via @BankTechNews
- So @USNewsMoney thinks begging a real person to reverse overdraft fees is a reason to stay tied to brick-and-mortar? http://bit.ly/1aiNcOH
- From @AmerBanker: John Bryant’s Plan to Save the Bank Branch — and Ruin Payday Lenders http://bit.ly/1zcxKs7
- FDIC uses data back to 1987 to defend brick-and-mortar http://bit.ly/1w2Xabh giving little notice to recent trend
- Here are 4 factors the FDIC says are influencing branch banking http://bit.ly/1EM5uRH
Marketing & Branding
- .@FortuneMagazine‘s @stephengandel: “Is JPMorgan Chase really America’s dog-friendliest bank?” http://for.tn/1zigCkA
- Congrats to Kitsap Credit Union on successful 4-county food drive in Washington state http://bit.ly/1DasPdx
- Heads up: Tax Refunds? Consumers Want To Save, Not Spend http://bit.ly/1A3d8T9
- More than 230 credit unions changed names from 2006 through 2012, according to a study by @FinancialBrand http://bit.ly/1ErgRR8
- How do you market to Millennials? Great story in series from @NPR: http://bit.ly/1FnOu4q
- AmEx’s new ads feature those who have “overcome the odds” and succeeded – like the Queen of Soul, Aretha Franklin http://bit.ly/18fV8zy
- The @FinancialBrand: Success in attracting the 18–35 age group will be crucial to every credit union’s future. http://bit.ly/1D2HgjE
Mobile & Digital Transformation
- Consumers are flocking to digital banking. Corporations may be next, according to a new report this week. http://on.wsj.com/1E3nIkV
- Bank of the West launches Scan to Pay: customers can pay bills w/their smartphone camera http://prn.to/1zKT2yh
- Barclays becomes first UK bank to allow payments via @twitter http://bit.ly/1GtYn1t
- CA’s Redwood Credit Union rolls out #ApplePay http://bit.ly/1EuhGIY
- Boston’s Radius Bank identifies the digital channel as the way to grow http://bit.ly/1Gxq8WR via @BankTechNews
- Is The U.S. Ready For A Banking Revolution? A New Fee-Free Mobile Bank http://onforb.es/1Eu8Zyj
- Associated Bank is pursuing the cost savings from branch closures, in part, to fuel the bank’s digital efforts http://bit.ly/18lDTNi
- .@KarstenStrauss at @Forbes looks at a $29M bet on banking software http://onforb.es/1zDSaLL
- James DeBello, CEO of @miteksystems, offers his thoughts for @ICBA on what’s in store for mobile this year http://bit.ly/1AGc3o8
- New research shows mobile Ecommerce takes 60% market share of internet access by 2017 http://bit.ly/1wfpOf5
- Rabobank, based in the Netherlands, has rolled out a mobile wallet on select Samsung smartphones http://bit.ly/1DJCGwj
Industry News
Small banks have a lot less market share than they used to, according to @FDICgov report http://t.co/qHZIdW7qSJ pic.twitter.com/huWRrya3w2
— Jim Perry (@mi_jim) February 27, 2015
- Online peer-to-peer lender @ProsperLoans to partner with community banks through @WIB_Bankers to boost offerings http://reut.rs/1MY3T0O
- Regulator wants to prevent ‘Armageddon-type’ cyber attack on banks http://usat.ly/1LL1Hs0
- The @ABABankers proposes database for US @Bitcoin companies http://bit.ly/1JPVTQm
- Next Tuesday marks a public commemoration at the National Archives of the 150th Anniversary of the Freedman’s Bank http://prn.to/1G98cSl
- Shout out to Julie Blitchok who starts new role as CEO of Kalamazoo, MI’s @ECCU1 on March 2nd! http://bit.ly/17Xcujz
- Follow up: questions remain in case where CFO and mother held hostage in plot to rob CT credit union http://bit.ly/1vyv9xl
- CEO of @LendingClub expects to see this year’s loan originations valued at about $7.6B http://yhoo.it/1Esn8w2
- German Fidor Bank brings @Bitcoin to mainstream banking, expands overseas http://bit.ly/1Esm2Am
- The U.S. banking industry in 2014 posted its first yearly profit decline in five years http://on.wsj.com/1aiLInD
- Connecticut credit union CFO found wearing suspected bomb vest – investigators trying to determine if he was coerced http://reut.rs/1vuVRXQ
- ‘Black hat bandits’ have robbed seven banks in Virginia, Maryland in 2015 http://wapo.st/1wfmSis
- OH bankers are joining the fight against congressional proposal to audit the U.S. Federal Reserve’s policy decisions http://reut.rs/1DcnGEp
That’s all for this week. Please share this with your colleagues. If we missed an important story, drop me a note.