The results of their efforts have been impressive. The partnership with The Pacific Institute began in 2015, and since then, the projected savings and additional fees collected have increased significantly.
The bank has also seen their origination fees increase. In one group, from January – June in 2016, origination fees were $29,000, but from January – June in 2017, they rocketed to $138,000. Coupled with a loan growth increase of 18.3% year over year, this tremendous growth can be attributed to the private bankers’ shift in mindset that they were no longer a “free bank” and an understanding of how they have a positive effect on the numbers.
Gabe Baldwin, President – BankPlus Mortgage Center and Director of Business Development/ Private Client Group, states, “We were able to go in and look at the fee structure and price competitively with the market. We’re not the most expensive by any stretch. So, coming up a little bit has had a big effect on our bottom line. We would have never been able to accomplish this had our employees not been through this mindset training – learning how to think through things, set goals and understand that process. Each employee learned how to set goals and set their career path. They also learned what sustainable change is. You can change anything for a short period of time, but they learned how to commit to processes that make change last, so it’s been a huge advantage for us.”
Loan growth increased across the organization (April 30, 2016, to April 30, 2017):
|Overall Loan Growth||Commercial Lending||Private Client||Commercial Real Estate|
Loan growth increased $205 million (12.52%) to $1.84 billion – an all-time high balance for total loans
- Shortened the execution timelines of the strategical plan (Vision 2019) – Currently one year ahead of schedule
- Reduced efficiency Ratio from 72.9% to 68.2% (4.7% improvement)
- Most profitable quarter in the history of bank
- Easier to communicate new strategies and get buy-in vs. resistance to change
- Shift in sales mindset – more ownership and accountability for sales outreach
- Letting go of old outdated practices
- Production team has more ownership and is more outward focused
- Increased awareness to sales opportunities outside of work
- Maximizing return on investment from sponsorship opportunities
- Reduction of silos – opened awareness through interdepartmental collaboration
- Increased interactions and cross selling
- Employee celebrations when the results are achieved
- Co-accountability to the bank’s mission
- Meetings are run differently – “Think Sessions” were created where team members can collaborate and participate
- Leadership and staff communication is more transparent
- Permission to challenge one another towards growth is part of the culture
To communicate, align and sustain the culture and TPI concepts, requires ongoing effort and dedication. CEO, Bill Ray, has committed to traveling to all BankPlus locations communicating the message, the vision, and letting the employees know that what they are saying is being heard. Before every meeting that Ray opens, he refers to TPI concepts, and shares the progress the teams are making due to these initiatives, and how each person’s role fits into the bigger picture – reinforcing how each individual matters in accomplishing corporate goals.
With ambitious strategic goals, including the reduction of the bank’s efficiency ratio to under 60%, the team has embraced the journey that lays before them.
In September 2017, all managers will attend a one-day TPI refresher – over 750 people. Gee Gee Patridge, BankPlus Chief Operations Officer, stated, “We realize if we don’t sustain it, the processes and practices that we’ve learned through Thought Patterns with The Pacific Institute®, we will lose it. Our employees are really excited. We told them we made a commitment to it, but they are seeing that we truly are… It’s (the training) being honed and made applicable to the vision, values and culture at BankPlus so that we are all reinforcing the behavior that we want. It’s really helped us turn the corner.”