Jeff Schmid: Best Approach for SVB Acquisition
March 2023
Jeffrey R. Schmid, President and CEO of SW Graduate School of Banking Foundation, shares the best approach for SVB Acquisition.
That’s what First Citizens should prioritize in the early stages of the acquisition, says Jeff Schmid, president and CEO of the Southwestern Graduate School of Banking Foundation, headquartered at SMU’s Cox School of Business.
“We bought a large, failed bank in Phoenix back in 2008,” says Schmid, recalling his earlier career as a bank examiner at FDIC. “The number one thing you want to do is find the smart people in that place. You don’t build a bank without having some smart folks. And also communicate quickly to try and retain the best clients.”
He continues, “First Citizens says they’re a good relationship bank. And so that means really understanding who was leading the bank on the client side.” The bank has to identify the best parts of a franchise that’s over 30 years old, he says. “So you really want to focus on the best pieces.”
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Merrill Reynolds: Why CDs are music to banks’ ears right now
March 2023
The interest rate set by the Federal Reserve is the highest it’s been since 2007. We are now seeing that affect the terms of some savings accounts offered by banks. Case in point: certificates of deposit, or CDs.
Some banks are offering about 5% for consumers to put their money in a one-year CD. But with the recent low-interest rate environment, banks may have to explain to their customers what CDs are in the first place.
Merrill Reynolds, Certified Community Bank Director's Program Managing Director, shares insights on CDs.
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Financial Expert Explains Impact of SVB Failure
March 2023
SWGSB Foundation Chief Academic Officer William Chittenden, Ph.D. provided his expertise about the recent bank failure of Silicon Valley Bank.
Silicon Valley Bank Closure Leaves Wine Industry Clients in the Weeds
March 2023
There may not be quick answers to the biggest questions facing the wine industry after Silicon Valley Bank collapsed on Friday — including the future of the bank’s landmark wine industry report.
By Jeff Siegel
Last week’s abrupt closure of Silicon Valley Bank left many in the wine industry fumbling for financing and wondering where their money went. But over the weekend, President Biden announced that all SVB customers would have access to all their deposits by today (Monday, March 13). Beyond that reassurance, though, the future of the bank’s holdings remains in question. Already, Silicon Valley Bank UK Limited (which is a legally separate company to SVB in the U.S.) has been sold to HSBC, the largest bank in Europe.
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Southwestern Graduate School of Banking Foundation Announces Three New Board Members
March 2023
FOR IMMEDIATE RELEASE
Contact: press@swgsb.org
Jelena McWilliams, David Kemp, and Charles Cooper joined the Foundation’s Board of Trustees in January
Dallas, TX (SMU) March 9, 2023 – Three nationally known banking luminaries have joined the board of
trustees of the Southwestern Graduate School of Banking Foundation (SWGSB) at the Cox School of
Business, Southern Methodist University (SMU Cox). The school and foundation provide top educational
experiences for bank officers, community bank directors and other leaders in the financial services
industry.
Why inflation will likely stay sky-high regardless of which party wins the midterms
November 2022
Author: William Chittenden, Ph.D., chief academic officer, SWGSB
Soaring inflation is the top issue for a lot of voters heading into the midterms, with most saying Republicans would do a better job of handling the problem.
Indeed, Republican candidates are taking full advantage of voter concern about inflation by hammering Democrats on the issue and pushing their own ideas to fight inflation, such as cutting both government spending and taxes.
As a finance and economics expert, I have studied inflation, what causes it and what can bring it down. That’s why I doubt a Republican Congress would have much, if any, effect on inflation.
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