Gratz Bank to focus on organic growth after recent acquisitions
By Sadowski, Michael | |
Proquest LLC |
REGION
It's been a big year at
The bank holding company for
But the community bank, currently with
It's part of a new strategy at the bank to produce growth and help it compete in the new banking world of increased costs from regulation.
"Due to the costs associated with (the federal) Dodd-Frank (Act) the only way small banks are going to survive is to grow," GNB and Gratz Bank President and CEO
And being acquired is not the plan, though Weymers luiows it's easy to think that. As CEO of
When he came to Gratz in 2011, one of the first items on his plate was the acquisition of the
"People have thought, I'd say erroneously, that that's the plan. But I can absolutely say it's not. I really hope to retire at
The
"Given the demands of a changing banking environment, the board of directors believes this transaction represents an opportunity for our shareholders, customers, employees and the communities we serve to join with a bank of like values and continue our community banking philosophy," FNBM President and CEO
"A bank our size, we really need to look for organic growth, but probably some inorganic growth as well," he said. "The cost of regulation on banks is huge, to say the least. Somehow, you need to cover that cost, and spreading it over a larger-sized bank is one way to do it." <
"The cost of regulation on banks is huge, to say the least. Somehow, you need to cover that cost, and spreading it over a larger-sized bank is one way to do it."
Jeremy Dobbin,
BY
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Wordcount: | 606 |
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