For 11 years in a row, Chesapeake Bank has been named to American Banker’s lean of the top-performing commune banks; in place of six straight years, it has been named a “best deposit to masterpiece in place of.” On the most recent episode of the ABA Banking Journal Podcast, deposit head of the company and newly minted ABA Chairman Jeff Szyperski talks as regards the explanation strategic drivers of star in place of his $803 million commune deposit. Among other topics, he discusses:
Specialty ranks of businesses (affectionately called SLOBs) with the purpose of drive fee pay and complement business-related lend growth. Chesapeake Bank offers a countrywide cashflow financing division in place of small businesses, trade certificate doling out in place of 22,000 clients countrywide and a wealth management piece. “They’ve made a real difference from a fee pay perspective in place of us preferably than in a minute relying on the traditional margin,” he says.
Investing in hiring the exactly employees — as well as a “hugely successful” psychological test in place of fit — and training team members. Chesapeake Bank provides monetary incentives in place of employees to pursue expert development.
Technological investment. “We keep everything in-house. That’s a bunch of overhead, but it gives us a bunch of flexibility on the distribution,” he says. “If something’s not exactly with a customer, we know somewhere to attempt to answer it. We don’t comprise to submit a masterpiece order to about remote service chest and hope with the purpose of answer comes back quickly.”