Easy2Start™ -- Denovo Banking
Denovo is a Latin word meaning "anew." So what is a denovo bank? A denovo bank is a newly chartered bank. It could also mean a newly opened bank branch. A denovo bank could be a commercial bank, state bank, national bank, savings bank or thrift bank and others.
Denovo typically refers to a bank that ranges from the formation stage through the first 5 years of operation.
In 2009, the Federal Reserve research showed that the median denovo bank reached profitability in its 3rd year of operation. Starting smart, focusing your efforts, and having a marketing engine in place for shareholder, stakeholder, staff, the community, and the customer can significantly impact those results....that's the MarketMatch difference!
Benefits to you:
- Targeting success quicker: focused marketing strategy and tactical plan for success
- Creating a brand platform in the community: steady stream of news, progress and milestones for the media
- Yielding more dollars faster: effective approach to capital raising communications and early starts to generating revenue
- Measured ROI on your marketing investment: ensuring leverage for your start-up capital expenditures
- A marketing "director and staff"...without the HR expense and hassle!
Around the country, de novo banks are springing up to take advantage of local conditions that favor entry. They are capitalizing on the availability of seasoned bank leadership and directors who are available to assist in leading the new banks. Entrepreneurs’ freedom to find and respond to market opportunities is a strength of our free enterprise system.
A core resource to our denovo clients is the MarketMatch Denovo Advisory Board comprised of seasoned bank executives and CEO's of current and former denovo banks! You have access to the Advisory Board as a sounding board and strategy check.
MarketMatch has assisted numerous denovo banks through the process of the initial formation through the early years of growth and outreach. Our experience is built from the ground up. Our totally tailored "process-driven" approach ensures you a custom-fit solution to your individual market. We do not a "one-size-fits-all cookie cutter" approach.
Our tailored process-driven approach works through each phase of the denovo banking start-up:
- Business Plan formulation
- Determination of whether to buy an existing bank or build a denovo strategy
- Feasibility study
- Application process
- Account, pricing and customer targeting strategy
- Pre-file and comment
- Community interaction and contact building
- Office/branch sourcing and location determination support
- Capital raising
- Grand opening
- Guided, strategic growth for the first 5 years
Call or email us today to learn more and have a FREE Marketing SNAPSHOT™ Assessment!