Banking and Social Media

Interesting read on banking and social media (US Banker here). The article confirms my sense of banking customers as ‘not quite ready’ for implementation of social media. Here is one takeaway on this:

The social banking model is not here today and probably won’t exist within the next year.

The essential task for banks today is to lay the groundwork by creating the partnerships, tools and IT infrastructure needed to monitor changes in the business environment, develop social banking strategies and pursue opportunities that will allow implementation of this emerging model.

More Bank Failures Announced: Neighborhood Community Bank

On June 26, 2009 the FDIC announced 5 more Bank Failures. Here is the Balance Sheet and Income Statement for one of them: Neighborhood Community Bank.

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More Bank Failures Announced: Community Bank of West Georgia

On June 26, 2009 the FDIC announced 5 more Bank Failures. Here is the Balance Sheet and Income Statement for one of them: Community Bank of West Georgia.

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More Bank Failures Announced: Horizon Bank

On June 26, 2009 the FDIC announced 5 more Bank Failures. Here is the Balance Sheet and Income Statement for one of them: Horizon Bank.

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More Bank Failures Announced: Mirae Bank

On June 26, 2009 the FDIC announced 5 more Bank Failures. Here is the Balance Sheet and Income Statement for one of them: Mirae Bank.

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More Bank Failures Announced: Metro Pacific Bank

On June 26, 2009 the FDIC announced 5 more Bank Failures. Here is the Balance Sheet and Income Statement for one of them: Metro Pacific Bank.

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Economic Forecasting

An interesting post on economic forecasts on the Atlanta Fed macroblog (here). Here is the salient part:

Consider the following predictions from the Blue Chip panel of economists concerning the economy’s growth rate a year and a half from now (fourth quarter 2010). The average growth rate expected in that time frame from the panel is 3 percent, which isn’t that different from the six-quarter-ahead forecast they have made every June during the past 10 years or so. But if you compare the difference between the economic optimists (the 10 highest growth forecasts) relative to the economic pessimists (the 10 lowest growth forecasts), the discrepancy between the two views is large relative to recent history. In short, the forecasts on the optimistic end of the spectrum are now more optimistic while the pessimistic forecasts are a little more pessimistic.

Commercial Real Estate: South Performs Worst

The numbers don’t look all around but the South takes the biggest hit this release. From Moody’s/REAL Commercial Property Price Indices, June 2009

The South was the worst performing region overall. All four property types saw annual value declines of more than 20%, with industrial measuring a decline of 28.8%.

Choppy Waters for Direct Marketing and Analytics

From Acxiom’s Q1 2010 expectations (here)  :

The outlook for revenue in the near term remains challenging. We continue to feel the effects of market consolidation, as well as clients continuing to defer decisions on their marketing spending or canceling programs, both of which have an effect on our revenue and our ability to estimate revenue.”

Agencies Announce Notice of Proposed Rulemaking for Community Reinvestment Act

From the FDIC release on Agencies Announce Notice of Proposed Rulemaking for Community Reinvestment Act  :

The federal bank and thrift regulatory agencies today proposed revisions to regulations implementing the Community Reinvestment Act (CRA) to require the agencies to consider low-cost education loans provided to low-income borrowers when assessing a financial institution’s record of meeting community credit needs.

This proposal, which is being proposed jointly by the Comptroller of the Currency, Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, and Office of Thrift Supervision, incorporates provisions of the recently enacted Higher Education Opportunity Act, which revised the CRA. 

The proposal also would incorporate into the CRA rules statutory language that allows the agencies, when assessing an institution’s record, to consider, as a factor, capital investments, loan participations, and other ventures by nonminority- and nonwomen-owned financial institutions in cooperation with minority- and women-owned institutions and low-income credit unions.  This language codifies guidance in the Interagency Questions and Answers on Community Reinvestment, published on January 6, 2009.