A Case of Self-Disruption

Anyone who thinks that community banks won’t be able to adapt to an evolving marketplace where digital and mobile channels are becoming increasingly important probably hasn’t heard of Radius Bank. In 2014, the management team and board at Boston-based Radius made the transformational decision to close all of its branches save one, as required by federal law, and adopt a digital-only consumer banking platform. While it might have seemed as though $790 million asset Radius was making a bold bet on a strategy that most banks are embracing far more cautiously, President and Chief Executive Officer Michael A. Butler doesn’t...