May 7, 2014
BankNews e-Digest header
Community Banks Out-Earn Giants
By Bill Poquette, Editor-in-Chief, BankNews
Blaring headlines last month let the whole world know that Bank of America lost almost $300 million in the first quarter; JPMorgan Chase disappointed shareholders by earning only $5.3 billion compared with $6.5 billion in the 2013 third quarter; and Citigroup's earnings were flat from year to year at $3.9 billion.
The Consumer Financial Protection Bureau has proposed a rule to promote more effective privacy disclosures from financial institutions to their customers. The rule would allow companies that limit their consumer data-sharing and meet other requirements to post their annual privacy notices online rather than delivering them individually.

Agricultural Census Reveals New Trends   

There are now 3.2 million farmers operating 2.1 million farms on 914.5 million acres of farmland across the United States, according to the 2012 Census of Agriculture, released recently by the U.S. Department of Agriculture. The agriculture census presents more than 6 million pieces of information, which provide a detailed look at the U.S. farm sector at the national, state and county levels.
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West Gate Bank - 2014 Community Leader Award

The American Bankers Association has announced that its Institute of Certified Bankers now offers computer-based testing for all of its certification exams, formerly referred to as "individual proctored exams."  Candidates now have the ability to choose their exam date, time and location at national test centers-known as PSI Testing Centers-within a defined date range.
Retail banking customers have again rated Huntington Bank highest in the North Central Region, according to the J.D. Power 2014 U.S. Retail Banking Satisfaction Study. Huntington maintains the highest spot for the second consecutive year among the largest financial institutions in the region.
There are rush hours in mobile banking usage that coincide with the workday, according Malauzai Software, a leader in mobile banking. Malauzai's monthly Monkey Insights highlights key trends in mobile banking usage. According to the report*, mobile banking usage continues to surge, and an important new characteristic is increasingly showing up: members and customers are switching to the mobile channel as their exclusive choice.
Despite ongoing public scrutiny, customer satisfaction with banks is at a record high as banks improve experiences for their customers, reduce problems and create a better understanding of fees, according to the J.D. Power 2014 U.S. Retail Banking Satisfaction Study. Yet, midsize banks are missing the mark with key audience segments, such as Millennials (born 1977-1995) and minorities, with affluent customers still the least-satisfied customer segment.  

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