Branch banking

Branches across the country have closed temporarily, or switched to drive-thru service, as infections and quarantine rules have forced many bank workers to stay home.

First Premier Bank in South Dakota revamped its online sign-up process to allow customers to name the banker who referred them. This helps bankers overcome their reluctance about digital accounts and lets them start relationships with new customers.

The $6.7 billion-asset Byline Bancorp plans to invest most of the savings into digital banking.

A new survey of industry executives finds substantial interest in cryptocurrencies and mergers but anxiety about competition from large technology companies.

For the third time since the start of the pandemic, the Richmond, Virginia, company will close branches to contain costs in what it calls a “challenging macroeconomic environment.”

The Georgia bank estimates that it will save $12 million annually by shutting down 40 branches.

Hiring fewer front-line workers but paying them more could improve customer experiences, strengthen employee retention and reduce stress for managers.

The new omicron strain is prompting more financial institutions to extend mask mandates in the workplace and remote work schedules.

Bankers say they're putting up with behavior from entry-level workers that never would have been tolerated in the past because it's so hard to fill positions. Those compromises can undermine corporate culture.

Even as the pandemic has hastened adoption of digital banking, industry officials say branches remain vital points of contact with consumers.