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Building an Image for Bank of North America
Challenge:
A longtime client of the firm purchased five failed Savings & Loan institutions and formed a de novo commercial bank.
The bank encountered numerous obstacles, including overcoming a lack of confidence by state and federal regulators.
Building market share as an unknown financial institution as well as competing with well-financed and highly recognizable banks in Dade and Broward Counties.
The obstacle of having only one Dade location, with nine in Broward and one in Palm Beach, spreading marketing dollars thinly over a broad geographic region.
Approach:
Educate the media as to the history, strength and social responsibilities of the company.
Provide proactive media relations supporting Bank of North America's messages.
Build brand awareness in key markets and saturate promotional campaigns for new and unique products.
Profile the bank's capabilities, executives and build market share.
Create a positive environment for career opportunities for new and existing employees.
Results:
The new bank built market share and assets quickly and expanded.
Because of customer accounts, quality and recognition, the bank quickly expanded and became profitable; it was later sold to Bank Atlantic.
ECA's chairman served on the founding board of directors at Bank of North America for six years, was elected chairperson of the CRA committee, and served on the audit committee.
Challenge:
A longtime client of the firm purchased five failed Savings & Loan institutions and formed a de novo commercial bank.
The bank encountered numerous obstacles, including overcoming a lack of confidence by state and federal regulators.
Building market share as an unknown financial institution as well as competing with well-financed and highly recognizable banks in Dade and Broward Counties.
The obstacle of having only one Dade location, with nine in Broward and one in Palm Beach, spreading marketing dollars thinly over a broad geographic region.
Approach:
Educate the media as to the history, strength and social responsibilities of the company.
Provide proactive media relations supporting Bank of North America's messages.
Build brand awareness in key markets and saturate promotional campaigns for new and unique products.
Profile the bank's capabilities, executives and build market share.
Create a positive environment for career opportunities for new and existing employees.
Results:
The new bank built market share and assets quickly and expanded.
Because of customer accounts, quality and recognition, the bank quickly expanded and became profitable; it was later sold to Bank Atlantic.
ECA's chairman served on the founding board of directors at Bank of North America for six years, was elected chairperson of the CRA committee, and served on the audit committee.
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