ABA Banking Journal - February 2008 - (Page 16)
Community Banking Pass the Aspirin The Books Bankers Live By, 2008 edition p.18 Don’t despair Things keep looking worse for many sectors. But tomorrow’s winners will be those banks that keep their eye on the whole journey, not just the next period 16 FEBRUARY 2008/ABA BANKING JOURNAL A Three faces of banking In the midst of this worsening situation, we are seeing three By Michelle Gula, president and CEO, and Jay Brew, chief bank strategist, m.rae resources, inc., a bank consulting firm based in Bethlehem, Pa., www.mraeresources.com www.ababj.com/subscribe.html ILLUSTRATION BY TIM TEEBKEN ll roads appear to lead downhill right now for community banking. As you wade through the seemingly endless reports of this worsening credit and liquidity crisis, it is nearly impossible to refute that the events we’ve witnessed to date will lead us into a long and deep recession. Even if you are in the optimistic outlook group, the risk is there, and now is the time to plan accordingly. Don’t just wade through the mire waiting for the good news to be delivered. You must begin to think, plan, and lead as if the good days are already here. Indeed, in recollecting recent banking history, we are reminded that in the crazy 1980s many banks gave up much value when things went south. That’s because they had short-term reactions, instead of proactive long-term implementation. We can learn from history.
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