Only in the “Through the Looking-Glass” world of Internet-only banking is decimating your bank’s net interest margin by overpaying for deposits and undercharging for loans a viable strategy for enhancing shareholder value.

But even Lewis Carroll would have trouble imagining the “curiouser and curiouser” conclusions of Ms. Sherri Neasham, CEO of the research firm, as reported recently in American Banker. After conducting a survey of certificate of deposit rates at 35 banks (presumably by doing more than reading the morning paper or logging on to, Ms. Neasham asserts, “Brick-and-mortar banks will have to work to make their prices comparable.”

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