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The Securities and Exchange Commission recently lifted its ban on advertising private stock offerings, and it's just in time for community banks that are struggling to attract money from sophisticated investors to bolster capital and avoid selling out to other banks.
October 30 -
In its latest billboard ad, the Colorado bank is comparing itself to an institution that makes nearly anyone look good.
February 7
Forget Times Square and champagne toasts. For the chief executive of American Savings Bank in Portsmouth, Ohio, New Year's Eve was all about courting business.
Jack Kuntz sought to drum up new customers for the $158 million-asset bank Tuesday night by airing a local ad during the broadcast of ABC's "Dick Clark's New Year's Rocking Eve." Kuntz included his personal cell phone number in the spot and encouraged prospects to give him a buzz, according to the
"My phone started ringing off the hook," Kuntz told the publication. "I got eight calls that night. On a couple there were high-school kids laughing, and a couple were friends, but a couple were good business opportunities."
A hands-on approach to advertising is part of American Savings' efforts to expand its customer base around Cincinnati, where it has two branches. Its holding company, ASB Financial in Portsmouth, Ohio, recently raised $5 million to fund growth.
