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Archive for December, 2016

2016 Recap

It’s time we take a look back at how our annual predictions shook out. Once again, we did pretty damn good.

1.) Our first prediction was that hiring managers would be even pickier, maybe too picky. The phrase we used was something like “The needle in the haystack search will become the needle in the stack of haystacks search.” We saw a great deal of this over the course of the year. In some cases we witnessed it first hand, in others it was second hand evidence. We saw cases where hiring managers said something to the effect of “this candidate is perfect, lets see more” or “this candidate seems too good” or “All three of us love the candidate for the role, but we just feel we need more time to be comfortable” only to have the bank circle back around and say “So…is that candidate still available or interested?” Many times…our answer was “Sorry, no.”

2.) Our next prediction for 2016, was that we would see increased mobile and electronic system changes and conversions. This prediction would be the one we arguably missed. We saw continued electronic and mobile updates in the industry, but I can’t say we saw a major increase there. Sure, if you simply do a scan on the Web or even American Banker for example, you can see almost daily stories about the technological shifts in banking, but most of them are either about possible future shifts there or about the same few banks trying to stay ahead of the curve. Leave it to banking to be slow to change J

3.) Finally, our third prediction was the one we nailed. Dead center, bulls eye, perfect shot. We said in 2016 we will see Increased “healthy”: bank M&A. Bank of Georgetown, Cardinal Bank, BlueRidge, Edgertown National Bank, Fox Chase and Penn Liberty and countless others were gobbled up by the acquisition monster. Many of these were banks not under known MAJOR stress, yet…here they are.

What an interesting year this was on many levels. Tough to imagine 2017 toping it from an intrigue standpoint, but we will see. Next month’s blog entry will be our predictions for 2017. All the best folks and stay tuned!

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