We recently asked bankers in our “State of Commercial Banking Midyear Update” presentation what was top of mind for the remainder of 2023. The answer was clear: 80% of the respondents selected deposit growth and retention.
As interest rates have surged to their highest levels in decades, financial institutions have found themselves navigating uncharted waters. Some have experienced success in defending — and growing their deposits. In response, we dug into the Q2 PrecisionLender database to determine the strategies and tactics that separate the “deposit expanders” from the “deposit contractors.” Within those institutions, we homed in on groups of top-performing relationship managers at the expander institutions and groups of bottom performers at the contractors.
