“When you stop growing, you start dying.” —William S. Burroughs
Growth—whether organic or via acquisition—is vital to the ongoing success of financial institutions. As William S. Burroughs tells us, when we stop growing, we start dying. That maxim is particularly meaningful in community banking today, as we face what could potentially be the greatest period of consolidation in the industry’s history. In fact, knowing that they do not have the resources to remain competitive, some organizations are strategically planning to be part of the acquired side of that equation. This strategy makes sense, as many banks don’t have the resources—people, culture, products, capital, sales / marketing, markets, and systems—to generate significant growth.
Any reference to "banks" or "community banks" collectively also refers to credit unions
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