All articles by Charles Davis
Charles Davis
Tough ads for tough times
Current bank advertising in the US reflects conditions underfoot: for every bank scrambling to reassure shaken customers, another touts its relative strength Charles Davis and Douglas Blakey report.The extraordinary ongoing global economic dislocation makes bank marketing a delicate art these days, but the boldest among the survivors are beginning to make themselves heard
Wells Fargo takes the lead
A wave of merger activity has significantly changed the US retail banking landscape, with the market now dominated by three institutions: Wells Fargo, Bank of America and JPMorgan Chase
In-store and in touch
US Bank, the fifth-largest retail bank in the US, now has the largest number of in-store branches in the country following a deal with Utah-based Zions Bank With its recent agreement with Zions Bank to assume the leases of 49 full-service branches in supermarket retailer Smiths Food & Drug Stores, US Bank, the fifth-largest retail bank in the US, has grabbed the mantle of the nations largest in-store banker, surpassing Wells Fargo, the fourth-largest.
Survival of the fittest
Charles Davis looks at the reaction of many US banks to customer fears over banking strength in the wake of the market slump, and the marketing tactics many banks are employing to reassure their customers Emphasising a banks strength can increase customer loyalty in times of volatility, is the broad conclusion.Days after the spectacular collapse of the $32-billion-asset IndyMac Bank on 11 July, headlines swirled and talking heads on television asked, Whos next? Next, it seemed, was Florida-based First Priority Bank, which failed days after IndyMac when a national morning news programme did a segment on 10 troubled banks highlighting First Priority Bank.
Investing in satisfaction
Dissatisfaction with banking fees remains the most commonly reported problem by US bank customers, Charles Davis discovers.It was bound to happen: earnings pressure, tight margins and an uneven credit market have had an impact on bank customer service, according to the JD Power and Associates 2008 Retail Banking Satisfaction Study
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No end in sight to US credit woes
The erosion of credit quality in the US shows no sign of slowing, its tentacles reaching to every corner of the market for everything from mortgages to credit cards While small signs for a recovery appear to be emerging, the consensus is for many more months of turmoil, particularly in the consumer loan segments that drive retail banking In recent months, signs of weakness in the broader economy have shown up in employment data, retail sales reports and, of course, home sales reports
P2P accounts with Smarty Pig
Charles Davis talks to the people at Iowa-based West Bancorp and online P2P specialist Smarty Pig.Many US banks have turned to online savings accounts as a low-cost way to attract new customers, only to find that rate-driven consumers are quick to chase the next high rate that comes along
Bad times for National City
Despite being one of the largest US retail banking groups with 1,400 branches, Ohio-based National City is in trouble and its all down to its overexposure to the countrys stricken mortgage market
A retail power bank
US Bancorp, the sixth-largest US banking group by assets, has not suffered as much as some of its rivals from the subprime collapse and remains one of the more inventive, competitive retail players in the country In an era marked by rising economic uncertainty, US Bancorp has maintained a steady hand, using its fiscal conservatism to its advantage while refusing to stand still on the retail side of its operations.In stark contrast with many of its subprime-saddled competitors, the Minneapolis-based banking group has managed to weather the storm with a healthy capital cushion and relatively miniscule exposure on the mortgage markets
US insurers and the banking mix
In an era in which insurance margins are tightening, banking can serve as a rich source of alternative revenue.The newest entrant in insurer-owned banking, Mutual of Omaha Bank, began operations in 2007 with a more traditional bricks-and-mortar approach Mutual of Omaha bought three small regional banks in 2007 and has been quite outspoken about wanting more, declaring interest in buying banks in Texas, Arizona, California, Florida, Utah and Washington, plus some states in the north-east.The idea is to leverage Mutual of Omahas powerful national brand