Academic journal article ABA Banking Journal

"Pass the Aspirin."

Academic journal article ABA Banking Journal

"Pass the Aspirin."

Article excerpt

HEADACHE

An Oklahoma banker asks: What does your bank do to help get your directors to help the bank's sales efforts?

REMEDY 1

Lynda Messick, president and COO, Delaware National Bank, $377.2 million-assets, Georgetown, Del.

We have tried several measures over the years. The most successful was a branch/director team concept, where we assigned tenders and branch managers to teams with directors, and developed a competition with some nice (but modest) prizes. A dinner for the winning team and spouses was the favorite prize. We set up the program so that everyone could win something and there were categories for the most loans, deposits, and total dollars of business brought in. We gave a fairly short time frame--I think it was four months--and if my memory serves we brought in over $16 million in combined business.

REMEDY 2

H. Franklin Sherron, Jr., president and COO, Lexington State Bank, $914.2 million-assets, Lexington, N.C.

The bank's board of directors and business development boards participate in a sales referral program, which helps the bank increase new core deposits, loans, invested dollars, CD money, and trust referrals. We use a point system to track their progress. For example, for $xx brought in as new deposits, the director will receive 10 points, $xx in new loans, the director will receive 5 points, etc. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.