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As margins have compressed, it’s become increasingly important for banks to bolster the profitability of existing customers.
When relationship managers for Encore Bankshares meet a new client, they know their incentive plan will reward them for bringing the client’s whole relationship to the 
bank, not just a loan.
The incentive plan reflects how the bank wants its customers to view it. “Let us not just be your bank, but let us be your financial partner,” says Erin Simpson, chief operations officer at the $3.5 billion bank in Little Rock, Arkansas.
As interest rates on many loans remained low, and deposit costs rose, margins compressed at many banks. That has made it painfully clear that banks must focus on the profitability of their existing customers, not just acquiring new ones. Today, institutions such as Encore have implemented new tools to ensure that more of their customers treat them as their primary bank — the place they go to for most, if not all, of their banking business.
To learn more about boosting customer profitability, download the report, sponsored by White Clay, here.
