American Banker Magazine - November 2020

Best banks to work for

Leaders at the 85 institutions that made the eighth annual ranking have found ways to navigate crises (there have been plenty this year) while also bolstering employee morale.

They're making some headway in building workforces that better reflect the communities they serve, but progress has been slow. Here's why.

Many in the industry were adding counseling services to benefits packages even before the coronavirus outbreak spurred demand for assistance with mental well-being.

Rick Wardlaw at Bank Independent in Alabama gets results by adhering to the servant-leadership model.

The New Hampshire bank’s storytelling programs have helped staffers establish relationships that go far beyond water cooler talk.

The Hawaii bank has paid employees who carpool, bike or walk to work. About a third of the workforce bought into the program before the pandemic, and it's expected to continue once life returns to normal.

The Florida company has created a series of programs to coach leaders on motivating employees and avoiding conflict.

The community bank has developed trivia and other Zoom-based games to keep workers engaged during the pandemic.

The agencies are still at odds over how to reform the scoring system in Community Reinvestment Act exams, but experts say the central bank’s recent draft proposal suggests a deal could be struck.

Many consumers are taking to the highways and the water for safe getaways during the pandemic — powering one of the few bright spots in lending. However, bankers warn that boomlets usually come with distinctive credit risks.

SaveBetter.com from Deposit Solutions lets consumers shop for different savings products through one portal and provides national exposure for participating banks, which include Ponce Bank in New York and Central Bank of Kansas City.

Banks must address the societal issues that resonate deeply with their customers and communities, says Regions Financial chief John Turner.