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Bank holding companies overcame a lackluster fourth quarter to earn a record $118.4 billion in wealth management income in 2011, according to a new report.
July 2 -
As revenue growth diminishes, more community banks are looking to expand their wealth management and trust operations. A number of them, including Iberiabank and Wintrust, are turning to acquisitions for growth.
April 26
Delaware County Bank & Trust in Lewis Center, Ohio, is the latest bank to add private banking in an effort to court more high-net-worth customers.
After suffering losses for the last three years, the $518 million-asset company is undergoing a series of changes that also include beefing up its management team, raising funds and offering new services, Columbus Business First
Delaware County reported net income of $185,000 for the quarter that ended March 31 but a loss of $3.1 million for 2011, according to the Federal Deposit Insurance Corp.
Community banks are
Barbara Walters, a senior vice president, will head the private banking unit, which will offer special mortgage products, credit cards with rewards and high-yield money market accounts, Columbus Business First reported. The bank already offers trust services through a wealth management division and estimates that 20% of its customers would qualify for its private-banking services.
The company is also rebranding itself with a new logo, website and tagline, Columbus Business First reported.
