The Advantages of Building a Personal Relationship with Your Banker
By Charles Satterfield | Staff Writer
In our previous conversation with Chuck Cowell, he held the position of President & CEO at Preston State Bank. Since then, his bank has merged with Guaranty Bank & Trust, where Chuck now serves as the Dallas Market Chairman. We spoke with him to delve into the details of the merger and discuss emergency planning.
GLF: When people hear about banking mergers, they often worry about whether their bank is next and whether they will end up with a bank they did not choose, which may not provide the same level of service as their previous bank. Are we likely to see a significant series of bank mergers soon?
CC: I don’t anticipate a major influx of bank mergers in the near future, mainly because I don’t believe that a larger bank necessarily translates to a better option for consumers. Community banks typically merge when there are substantial shifts in economic conditions. On the other hand, national banks often merge in response to changes in the national economy. The robust Texas economy is creating merger possibilities for community bankers whose business model focuses on relationship banking, provided that these mergers aim to enhance customer services. Many customers have reached out to inquire about the implications of our merger with Guaranty [Bank & Trust], and their positive reactions after learning about the benefits reassure us that this merger was a wise decision.
GLF: Apart from your merger, what other recent developments in banking are impacting busy families?
CC: Right after tax season, and just before the summer rush, many of our customers contact us to check in. While planning is crucial, when unexpected situations arise, customers value the ability to quickly contact their banker for assistance. Relationship bankers recognize the cost savings that can be achieved by applying the most suitable solution when multiple options are available. It brings peace of mind to know that if an emergency occurs, a simple call to their banker can initiate the support needed to address the situation.
GLF: Any final thoughts you would like to share?
CC: As a banker, I often get asked about my expectations for the coming months. Our bank is expanding, but more importantly, our customers are witnessing growth in their families, businesses, and communities. There are many reasons to remain optimistic about what lies ahead in the coming months.
