John Babcock of Peapack-Gladstone Bank
"Our business has been built by the disenfranchised clients from institutions that have been swallowed up by bigger banks," said John Babcock, president of private wealth management at Peapack-Gladstone Bank.
Megabanks continue to increase their share of personal trust and fiduciary assets, leaving most small banks on the margins of the business. But community banks could stage a comeback by focusing on quality service and the slightly less-rich.

Top Stories

Continuing housing problems and increasing economic inequality are bringing illness to low-income neighborhoods. To solve the problem, policymakers and financial industry leaders need to develop programs that address the intersecting issues of health and poverty.  more »
The Florida company's business plan relies heavily on consolidation, but management hasn't announced a deal in more than two years. CEO Gene Taylor recently told analysts that M&A remains a focus, but the company will no longer discuss the topic until it has something to announce.  more »
Embattled nonbank servicer Ocwen took a $100 million charge for a potential settlement of foreclosure violations and posted a third-quarter loss, but warned the final cost to settle allegations that it backdated foreclosure notices could be higher.  read more »
Policymakers are closing in on developing rules key to ensuring the ability of the government to take over failing behemoths, but the ultimate success of their plan may depend on how fast regulators can act.  read more »
FinTech Forward
The transformation of brick-and-mortar offices into high-tech sales centers has become an urgent matter as consumers increasingly transact through digital alternatives, yet branches still generate more sales than any other channel.  read more »
While banks almost universally offer mobile services, such as smartphone apps or mobile-friendly websites, their customers have been slow to use them, according to an American Banker/SourceMedia Research white paper.  read more »
The $44 billion-asset specialty lender viewed its pending purchase of OneWest Bank as its way to get significantly over the $50 billion threshold for systemically important financial institutions. But CIT CEO John Thain is all for a proposal that would raise the SIFI bar higher.  read more »
The Rhode Island company had barely opened the doors of its Fairfield County mortgage office when management started getting pushed about making a bigger splash. For now, CEO Joseph MarcAurele seems content to keep one toe in the water.  read more »
Our second annual ranking of the banks that win high marks from employees for providing a positive work environment, top-notch benefits and ample career-advancement opportunities. (The perks – like free lattes and subsidized gym memberships – are nice, too.)  read more »
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