2023 MBA Bank Management and Directors Conference Takeaways

Here are three of Stuart’s top takeaways: 

1. Some of the most notable data was related to consumer confidence and how it has continued to drive the economy. The increase in the federal funds rate has not dramatically slowed consumer spending and corporate investment remains steady. 
2. HUB International Insurance’s presentation on the market provided great insight into best practices on core deposit growth and demographics of the checking account portfolio. Their data confirms that the 20-35 age group is the largest group of new accounts. That being said, they have the highest rate of switching banks. They also confirmed that online account openings have increased yet they still only represent 8-10% of all accounts.  
3. The future of the community banks is in flux. In the conclusions provided by the conference:

• Passivity will almost certainly lead to irrelevance
• Actively plan to evolve and achieve