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04/10/2024

The Efficiency Toolkit

Bank efficiency ratios worsened in 2023 amid rising costs and a challenging environment for revenue growth. Instead of slashing expenses, some of the industry’s most efficient banks have a different take.

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Written by
Emily McCormick Vice President of Editorial & Research

Emily McCormick is Vice President of Editorial & Research for Bank Director. Emily oversees research projects, from in-depth reports to Bank Director’s annual surveys on M&A, risk, compensation, governance and technology. She also manages content for the Bank Services Program. In addition to regularly speaking and moderating discussions at Bank Director’s in-person and virtual events, Emily regularly writes and edits for Bank Director magazine and BankDirector.com. She started her career in the circulation department at the Knoxville News-Sentinel, and graduated summa cum laude from The University of Tennessee with a bachelor’s degree in Spanish and International Business.

Emily McCormick
Vice President of Editorial & Research
At Bank OZK, employees strive to “get better every day, in every way,” says George Gleason. “Every product, every process, every customer interaction, everything that we do, we’re constantly trying to improve that,” says the $34 billion bank’s chairman and CEO. A byproduct of that focus, he adds, is efficiency.  In a year where most banks became less efficient, Bank OZK managed to buck that trend by growing revenue faster than it grew noninterest expense — which is in essence what the efficiency ratio measures. The median efficiency ratio for all public banks in the U.S. was 61.7% at the…

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WRITTEN BY

Emily McCormick

Vice President of Editorial & Research

Emily McCormick is Vice President of Editorial & Research for Bank Director. Emily oversees research projects, from in-depth reports to Bank Director’s annual surveys on M&A, risk, compensation, governance and technology. She also manages content for the Bank Services Program. In addition to regularly speaking and moderating discussions at Bank Director’s in-person and virtual events, Emily regularly writes and edits for Bank Director magazine and BankDirector.com. She started her career in the circulation department at the Knoxville News-Sentinel, and graduated summa cum laude from The University of Tennessee with a bachelor’s degree in Spanish and International Business.