Core Insights - A healthy organizational culture is essential for a bank's long-term success, influencing employee behavior and collaboration [3][9] - The saying "Culture eats strategy for breakfast" highlights the importance of culture in achieving strategic goals [2] Peapack-Gladstone Financial - Peapack-Gladstone Financial, with $7.4 billion in assets, has prioritized culture during its expansion in New York City, hiring many bankers from failed banks [5][6] - The company increased its workforce by 30% over 18 to 24 months, emphasizing clear communication to integrate diverse cultures [6][10] - Peapack's New York expansion has resulted in nearly $2 billion in new deposits and significant growth in client relationships and assets under management [11][12] Pinnacle Financial Partners - Pinnacle Financial Partners, ranked fourth on the Best Banks to Work For list, faces cultural challenges amid its merger with Synovus Financial [13] - Concerns exist regarding the preservation of Pinnacle's unique corporate culture and its ability to maintain growth post-merger [14][15] - Both CEOs have committed to preserving Pinnacle's recruiting and compensation models during the integration process [15][17] BankIowa - BankIowa's values statement has significantly impacted its performance, contributing to improved retention rates and financial results [18][19] - The bank reported a net income of $5 million in the first half of 2025, with a return on assets exceeding 1.2% [20] - The alignment of the company's values with its operations has fostered a supportive culture, enhancing employee satisfaction [21][22]
These banks rely on their cultures to navigate thorny issues
American Banker·2025-11-14 17:29