The Situation
Located in a slow growth market, the bank’s growth was stagnant. Their two banking centers were located more than 10 miles apart. They had little name recognition and no identifiable point of differentiation.
The Challenge
With the lack of growth and no strategic plan to acquire another bank, they needed a new strategy that would minimize the lack of multiple brick and mortar locations and capitalize on their strong credit culture.
The Solution
We solidified the Board of Directors’ commitment to a growth strategy that involved re-branding the bank as a resource for businesses. This mitigated the need for additional branch locations and focused on the Bank’s differentiator, SBA lending. We deployed targeted marketing tactics to communicate that this community bank means business. The “Picture Perfect Banking” message was translated to digital and print advertising, a car wrap, collateral materials and website to ensure a consistent message. We secured testimonials from SBA loan recipients and featured customers in the ads.
The Results
Within six-months, the Bank, with $200 million in assets, was named a top 10 SBA lender in North Florida.