Oct 25, 2018
For 11 years in a row, Chesapeake Bank has been named to
American Banker's list of the top-performing community banks; for
six straight years, it has been named a "best
bank to work for." On the latest episode of the ABA Banking
Journal Podcast, bank CEO and
newly minted ABA Chairman Jeff Szyperski talks about the key
strategic drivers of success for his $803 million community bank.
Among other topics, he discusses:
- Specialty lines of businesses (affectionately called SLOBs)
that drive fee income and complement commercial loan growth.
Chesapeake Bank offers a nationwide cashflow financing division for
small businesses, merchant card processing for 22,000 clients
nationwide and a wealth management unit. "They've made a real
difference from a fee income perspective for us rather than just
relying on the traditional margin."
- Investing in hiring the right employees -- including a "hugely
successful" psychological test for fit -- and training team
members. Chesapeake Bank provides monetary incentives for employees
to pursue professional development.
- Technological investment. "We keep everything in-house. That's
a lot of overhead, but it gives us a lot of flexibility on the
delivery," he says. "If something's not right with a customer, we
know where to go to fix it. We don't have to submit a work order to
some remote service bureau and hope that answer comes back
Szyperski also discusses the
importance of advocacy, concerns about the trend of industry
consolidation and how to build a culture of employee