Kicking off #darecapitaldialogs a bit late with @keystonebankng’s fearless leader, Jeff Wilkinson. We’re talking about community banks’ role in #covid19 recovery - come join on the livestream
My notes below.....⬇️
My notes below.....⬇️
Customers want to work with a local bank, but they want the heavyweight expertise. @keystonebankng excels at punching above their weight class 🤜🏻 #darecapitaldialogs
Good bank culture is about openness - what can we do to solve customers’ problems? Positive mindset key. All ideas welcome. @keystonebankng #darecapitaldialogs
A good bank-customer relationship is long-term, future thinking, creative, nimble, and not templated. @keystonebankng #darecapitaldialogs
“I don’t believe in a kiss the ring mentality. This isn’t about me. It’s about the customer. Help the customer, even if @keystonebankng can’t help directly.” Love 👏🏻 this from Jeff Wilkinson #darecapitaldialogs
“Have a professional network of other folks who you trust & who might be available to help your customers when you can’t.” @keystonebankng #darecapitaldialogs
“I’m always looking for a way to make opportunities bankable. We look for entrepreneurs we can believe in - that’s it.” @keystonebankng #darecapitaldialogs
My metric: “is this deal a net benefit for the customer?” That’s the first Q we try to answer. #darecapitaldialogs
On technology: “Technology should support people, not the other way around. That’s basically the community bank mindset.” @keystonebankng #darecapitaldialogs
“It’s been a little challenging,” Jeff @keystonebankng says, “keeping up those critical customer relationships during #covid19. But not impossible.” #darecapitaldialogs
Technology disruption to #underwriting: “You don’t want to be the wrong bank for the customer. Technology helps you know for sure.” Jeff @keystonebankng #darecapitaldialogs
We want algorithms to gove humans better information, not take direction from algorithms. #darecapitaldialogs
#PPP updates: in the first 2 rounds, community banks issued 52% of single loans & 44% of the $$$ lent. Expect more in round 3. #darecapitaldialogs
“We did 586 #PPP loans so far, most under $50K. Most are getting 100% forgiveness. We hope that continues.” @keystonebankng #darecapitaldialogs
#PPP borrower guidance: Forgiveness portal should be available soon from @SBAgov. Keep in touch with your banker & we’ll notify you when that’s available. #darecapitaldialogs
#PPP has been a godsend for so many businesses during #covid19. Lots would not have made it this far without it. #darecapitaldialogs
What does this #COVID19 period remind you of? @keystonebankng: 2008, hands down. #darecapitaldialogs
On regulation: #ffisc yesterday extended grace period of relief for troubled debt restructurings (#TDR) to 60 days post-national emergency lift, or 12/31/2020. Gives banks more freedom to help. #darecapitaldialogs
In other words, if a @keystonebankng customer needs to defer repayment for 90 days to make payroll in this time, we can be flexible to help them out. - Jeff #darecapitaldialogs
“Projections have to make sense. If you can’t logically see a positive future for the customer, you can’t make the loan.” Jeff @keystonebankng #darecapitaldialogs
“Companies showing progress are the ones you have to hang your hat on.” @keystonebankng #darecapitaldialogs
On commercial real estate prospects: “Pretty good in Austin, many companies moving here. We have a lift the rest of the country doesn’t have.” @keystonebankng #darecapitaldialogs
On other projects, residential & office: depends where they’re at. Office space is going to stay vacant for awhile in many areas. @keystonebankng #dcd
Overall, Jeff Wilkinson says, commercial real estate owners will hang on to property as long as they can to ride this out. @keystonebankng hasn’t seen a decline in appraisals in CRE yet, but expects it to come. #darecapitaldialogs
Risk is certainly high; many local business owners can’t even get in the door with all but community banks like us, @keystonebankng notes. #darecapitaldialogs
Community banks get to be much more flexible with our concentrations. A good sponsor & a good project moving forward is enough for us. @keystonebankng #darecapitaldialogs
Residential real estate is doing better than you’d think in #Austin & #Houston; anecdotally, tenants are paying, maybe not 100%, but still paying. But that’s here, and it’s different elsewhere. #darecapitaldialogs
“I never bet against community banks, and I’ll always ride with them.” Jeff Wilkinson @keystonebankng #darecapitaldialogs
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