Rebirth 79: I opened a bank in the United States

Chapter 457 The Importance of Capital Land and Outsiders

"Recalling what we have done in Douglas in the past two years, I think we should be able to say with confidence and frankly that our banking company rooted in Douglas and in South Central Georgia has done our best in our capital. Our social responsibility!"

"Integrate more resources, provide more employment, and cut interest rates in the short term to stimulate economic activity, etc. Mr. Rogers once teased me, saying that I was using the black flag bank as the central bank of our small area! Now that the environment is gradually stabilizing, our benefits are slowly being reflected.”

Lying on the back of the seat, Carter said slowly while recalling:

"Even though our deposit interest rate is not high, local residents are still more willing to entrust their money to us for safekeeping. In terms of the expression of the bank's balance sheet, they are still more willing to lend money to us. I think, This is because in the past, our efforts and our seemingly disadvantaged behaviors have established an image of us as a responsible and responsible bank in the eyes of the residents!"

"Even without mentioning any personal emotional factors such as repaying gratitude, just trusting that we will properly manage their assets, and believing that the money placed with us will not disappear inexplicably. This alone, let us in this critical time At a lower cost, it can absorb deposits that are almost no weaker than that of any nearby bank!"

"The more unfavorable the economic situation is, the more refined cost control is required. I remember hearing this sentence from Mr. Bogle. I think it makes sense and is very appropriate. The lower Operating costs mean stronger risk-resistance capabilities and make it easier for us to survive some crises. In addition, while fulfilling our social responsibilities, we have also completed a deep bond with the capital market. To put it bluntly , in the current situation, neither the Douglas City Government nor the Pearson City Government will allow us to fall!"

"Once our black flag bank collapses, everything in front of us will be gone! Our successors may not necessarily do like us! At that time, whether it is financial borrowing, government guaranteed loans or other kinds of help, We may all be able to obtain it more easily than our peers. In short, at the cost of lower returns for a certain period of time, and at the cost of giving up the pursuit of extreme returns, we have gained a stronger ability to resist risks! A more stable company The capital market! We may fail in other places, but not in our transformed and deeply bound capital! This is our base camp, the real base camp! Worst case, we can return here, back to Such a home away from home in Douglas!"

"After this course is over, it seems that there is nothing to gain for now. But it makes me... well, I understand better what to do in the future! As long as the savings bank of Black Flag is stable, as long as it is there, there is stability. All my other industries can go bankrupt, it doesn't matter! Because my foundation is extremely stable!"

"That's right, that's why I have never objected to some of your previous actions. I don't understand the theories and doctrines you mentioned. I only know the customer's evaluation and word of mouth, and our deposit scale that has actually increased Of course, I also know that the increase in deposits is also due to the opening of ATS accounts and NOW accounts. These two accounts make people’s deposits more flexible and increase residents’ willingness to deposit. But”

Goodman nodded approvingly:
"Maybe it's naive to say that, and it's a little uncommercial. But I remember the old Black Bank, and the most I heard from people was that Chris was a good guy, and almost no one mentioned the bank itself. Then you When you first did those things, what people said the most was that you and Chris are the same. You are a father and son, and you have perfectly inherited Chris’s kindness. But today, well, this evaluation is just There is an extra label of ability, but the changes in the labor market are very obvious!"

"Didn't our bank expand in Coffey County in the past six months, annexing various township savings banks in the county, as well as some small banks. The turnover of personnel is frequent, and some savings banks that I think are unnecessary will be abolished, and some people who are dawdling Some will be cleared from our squad, and some will need to be restructured."

"Anyway, in the past six months, as long as I put up the recruitment notice on the bulletin board at the entrance of the bank, the number of applicants will always exceed the number of positions we plan to recruit by more than ten times! Whether I want to recruit three people, five people, or at most One time, ten people! In short, I have never seen this kind of scene before. Maybe there are reasons for this year’s bad situation, but I can’t deny that we are more trusted by the local people and think we are a good Enterprise is a worthy choice for this reason.”

"But then again, strictly speaking, our current stability can only be regarded as a preliminary temporary stability. Once the highway project is completed and the residential project is completed, where will such a large number of people go? What do you think about the future? Do you have any plans for development? These two things are estimated to be completed before the end of next year, and the time left for us is not too much, we have to prepare in advance!"

"Mr. Benjamin should have some action? Oh, yes, and what's going on with those homeless people outside now? I remember that they weren't like this before I left!"

After the conversation got to the point, Carter's expression became serious.

A relatively good environment, as the theory says, is based on a stable and active capital that is gradually moving toward prosperity.And the problem of work is undoubtedly the foundation of whether the capital is active or not. Everything is based on the fact that there are a large number of working population here, the so-called value-creating population!

Without this, everything else is a castle in the air!
"It's not like this in the first half of the year. The main reason is that the Fed raised interest rates again in the second half of the year. This is like the last straw that broke the camel's back! Didn't many people come here from Amarr, Fitzgerald and other places before? Are we here? After this wave of interest rate hikes, they can’t stand it anymore locally. Companies that should declare bankruptcy have declared bankruptcy and liquidation, and those that should lay off employees have directly laid off employees, and the local municipal government has also been put into ruin.”

"More and more people are unemployed, their loans are broken, their houses are repossessed by banks, and then they live on the streets. It is a big test for the local city's finances to feed this group of people. They couldn't bear it, so they all rushed to us. Here it comes. Feel like we, Douglas, are to blame for this situation and we are to blame for it"

"And for these vagrants, there are also many fellow villagers here. I have a little hope in my heart, hoping to get help from fellow villagers, and they don't object. , we, Douglas, can’t handle it either! Mr. Benjamin is also struggling with this matter recently.”

(End of this chapter)