Banking expert Dennis Jacobe, an economist who held top posts at the U.S. League of Savings and Loan Associations, the Financial Research Institute, and the Gallup Organization, has died.
Jacobe died Sept. 20 at Wake Forest University Baptist Hospital in Winston-Salem, N.C., according to his obituary in the Salisbury Post. The cause of death was not specified. He was 66.
A respected authority on the financial services industry, Jacobe began his career as a professor of economics at Arkansas College. He went on to serve as vice president of research at the U.S. League of Savings and Loan Associations and as co-chairman of the Financial Research Institute in Arlington, Va. He joined Gallup as chief economist in 1994, working there for almost 20 years.
Jacobe also provided consulting services to some of the nation's biggesy banks, including Citigroup (NYSE: C), Bank of America (BAC), JPMorgan Chase (JPM), and Wells Fargo (WFC). He was a special staff liaison to the Federal Reserve Board of Governors for the Thrift Industry Advisory Council for more than a decade.
A prolific and straightforward writer, he penned several opinion pieces for American Banker in the early 1990s. He argued against a proposed increase in deposit insurance premiums in 1992 and predicted a dramatic plunge in mortgage originations in 1993, urging lenders to recognize that "the current boom is unprecedented, and the bust will be much more severe than any in the past."
In later years, his economic analysis was frequently sought by media outlets including NPR and the Los Angeles Times. Much of his recent research at Gallup focused on the effects of the financial crisis, from Americans' saving habits to small business owners' cautious economic outlook. He regularly scrutinized economic trends on his blog, The Behavioral Economy.
Jacobe is survived by his wife of over 43 years, Bernice; his three adult children; and three brothers.