One of the adages that became popular over the last decade is “Manage the process; Measure the results”. Executives have found that, like most such “easy to roll off the tongue” clichés, the reality of “managing the process” is much more difficult than it sounds. In fact, managing the results,…
Most bankers would intuitively agree that information technology (IT) is a strategic function in the banking industry. It is increasingly important to interact with customers over the web and via mobile applications. The amount of technology needed to support even traditional banking functions like branching and lending is growing continuously. …
I recently read the following headline: “Next step for ABC Bancorp could be ‘strategic alternatives’.” It could have read, “ABC Bancorp is out of options and should sell.” [The name of the bank was changed to protect their identity.] After reading the article, that message came through loud and clear….
On November 1, 2011, The Kafafian Group (“TKG”) celebrated its 10 Year Anniversary as an independent company. But actually, our history goes back to the early 1980’s. TKG HISTORY The seeds of TKG were planted at First National State Bank of New Jersey (“FNSB”) in the late 1970’s. FNSB was…
As a result of the financial crisis and subsequent recession, Board oversight has become a more significant issue to both regulators and shareholders. Proper corporate governance and the role of the Board of Directors is an often debated subject. Regulators are increasingly asking for Board and management studies to determine…
I’ve often found these past two years extremely difficult. As consultants, we should try not to personalize engagements. But I can’t change the internal wiring. Last year, a client failed, and many more received regulatory orders. Memorandums of Understanding (“MOU”), Formal Agreements (“FA”), and Cease and Desist Orders (“C&D”) have…
In the present economic environment, revenue growth is becoming much more difficult to attain, net interest margins are under pressure, and compliance costs are on the rise. In these challenging times, it is imperative that community financial institutions control operating expenses without sacrificing service levels. Reducing costs can have an…
On an annualized basis, TKG performs somewhere between 35 and 40 strategic plans. Most of these engagements are between the months of June and December. However, this year we completed almost a year’s worth of plans by June 30th. You may ask, WHY? The answer is the result of regulatory…
The last few years have certainly been a difficult time for the financial industry, as well as the United States and world economies. The sub-prime fiasco has been compared to the great depression and the final chapter of this story is yet to be written. History will eventually provide us…
I recently watched the movie Miracle about the 1980 USA hockey team for the third time. In the movie, legendary coach Herb Brooks told his team that they may not be the best team on the ice, but they would be the best prepared. This inspired some self reflection. Am…