PRI Blog

Our blog is dedicated to sharing our thoughts and expertise about the banking industry and how you can experience quantifiable results for your financial institution. We invite you to hear the perspectives from our banking professionals through our posts.

PRI Selection as Preferred Provider Strengthens Ties to the Hoosier State

Profit Resources Inc. was honored this month to be selected as a Preferred Service Provider by the Indiana Bankers Association. The designation solidifies PRI’s footprint in Indiana and holds special significance. After the company’s launch in 1990, its very first client was an Indiana bank. PRI stands out to state bankers associations such as IBA […]
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Executive Succession Planning Plays Vital Role in Long-Term Bank Health

With Baby Boomers retiring at an accelerating pace over the next 10 years, there is a critical need for financial institutions to focus on executive succession planning. The 2020 Crowe Compensation and Benefits Survey revealed that 50 percent of FI executives are 56 or older, and 28 percent of managers are in this cohort. With […]
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Plan to Succeed Through Board Governance

Benjamin Franklin once said, “If you fail to plan, you are planning to fail.” His quote could not be more applicable to bank board succession planning, especially in today’s quickly changing world. While director succession may be one of the more sensitive topics in the boardroom, director development and board repopulation should be regular agenda […]
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In Banking, the More Things Change, the More They Stay the Same

After 45+ years in the banking industry, Tim Holt, founder of Profit Resources Inc., has seen many transformational changes. Yet, remarkably, the foundations of community banking have remained unchanged. He recently reflected on a perception issue of one of these ever-important foundations – customer payments and how community bankers view debit cards versus checks. Risks […]
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Lessons Learned: Adapting Operations to a Post-COVID World

To successfully adapt operations to a post-COVID world, many FIs are focusing on two main areas: Workforce and technology. “The pandemic itself didn’t present any real ‘aha’ moments, but it elevated considerations that were on the back burner and brought them to the forefront of leaders’ thinking,” said Gladys Rodriguez, PRI Consultant/Project Manager.  Workforce In the […]
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Stop Credit Churn by Maximizing the Review Process

During the pandemic, many FIs have been forced into a reactionary mode of addressing deferments, PPP loans, renewals, modifications, portfolio management and some new loans. All these issues have added to the dreaded “credit churn.” When the FI touches credit issues such as new analysis, DSC calculations or credit memos falling under the same borrower […]
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Amazon Prime Day presents opportunity for financial institutions

Amazon Prime Day is October 13!  But what does that mean to you and your financial institution?  It’s time to remind customers to use your debit card.  Here are some tips to increase interchange income for Prime Day (and any day!): – Remind all cardholders that the biggest deals on Prime Day are on electronics, […]
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Update Your Digital Strategy Now to Enhance Customer, Employee Experience

Developing a digital strategy is all about using the tools currently available to improve both the customer and the employee experience. There are ways of achieving both as part of a Financial Institution’s digital transformation journey.   Most digital transformation efforts begin with customer-facing services, such as mobile features and online account opening. This is […]
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Minimizing Loss in the Credit Portfolio

COVID-19 and the changing economy have created uncertainty. While bankers have weathered many of the initial concerns, all are now wondering what the fallout will be and asking, “What’s next?” Preparation and looking ahead are the keys to minimizing potential loss and creating a successful future. One area that bankers should be digging into now […]
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