4 Key Attributes of Successful Bank Growth

Over the last three months, the HORNE Banking team has hosted a series of webinars focused on various growth strategies within the banking industry. We started by exploring the uptick in mergers and acquisitions activity with Christopher Olsen at Olsen/Palmer and moved into a discussion with John Mabry of Keefe, Bruyette & Woods about opportunities available for banks looking to go public.  

The common theme across these discussions is the increased growth potential for banks that have a vision of who and where they want to be in the future. The institutions most likely to succeed are working toward clearly set goals with flexibility, discipline and focus. 

Our third installment of the growth series highlights the importance of focus and flexibility. In this webinar, we talk with Renasant Bank Chairman & CEO Robin McGraw, EVP & CFO Kevin Chapman, and Director & Audit Committee Chair Frank Brooks about the opportunistic nature of their success over the last five years. They share a few of the ways that Renasant Bank has achieved success by capitalizing on some key growth opportunities:

- Opening De novo branches in new and existing markets

- Seizing market share and new talent acquisitions in areas of disruption

- Closing the deal on whole bank acquisitions (in-market, new market and FDIC assisted)

Renasant Bank is an excellent case study about the success that can be generated at the point where preparation meets opportunity.  They reiterate the important point that opportunities are often unpredictable and fleeting. Banks must be prepared with an intelligent growth strategy that includes four key attributes:

1. A Well-defined Vision and Strategic Plan 

A bank’s vision sets the path forward. Strategy maps how it will be realized. As with any journey, you have many choices about where to go and what route to take. Success is rarely the outcome when the destination is left to chance.   

2. A Disciplined Focus on Key Objectives 

Once you define your destination and route, you must identify the critical elements of a successful journey. For Renasant Bank, soundness and profitability were their compass, and four key objectives guided their steps.

3. Buy-in Across the Institution 

Culture matters and a brand is only as good as its people. Building acceptance of a strategy not only helps to ensure its success; it also can accelerate achievement.

4. Flexibility and Ability to Adapt to a Changing Environment 

The last decade has inflicted massive change on the banking industry, ranging from the Great Recession, to increased regulation, to a historically low-interest rate environment. In our conversation, Renasant outlined that while barriers to success are unavoidable, flexibility and a willingness to adapt can turn challenges into opportunities.

Does your bank have a well-defined vision on its future direction? Do your goals and definition of success permeate bank culture? Do you have the focus and flexibility to pursue success?

The three-part HORNE webinar series can help you answer these questions and build an actionable plan for preparing for opportunity. Watch the discussions and download each presentation here.