Center for Excellence in Financial Services
- Applied Research
- External Relationships
- Plans & Prospects
The Center for Excellence in Financial Services is a business center within the College of Business. The Center provides services to financial service companies, as well as business and civic associations involved in banking, risk management, insurance and financial planning. In addition, the Center coordinates the internship program for Finance majors and assists in student career planning and placement upon graduation.
The Center seeks to provide community banks with services in four broad areas:
- Industry information services and custom-designed training for bank management and Board of Directors.
- Performance consulting services in areas of financial assessment, revenue enhancement, asset and liability management, strategic planning and risk management.
- Regulatory examination preparation assistance in terms of developing effective, streamlined strategic plans, risk management analysis and reporting programs, and compliance assessment.
- Applied situational research and market share analysis.
Key Activities and Accomplishments
- Organized and coordinated Sixth Annual Community Bank Symposium for banks in the southeastern Georgia region. As part of this effort, a 90 page Performance Comparison Report was prepared for each of the then GBA regional groups encompassing 210 banks 37 different banks.
- Managed and updated data bases for banking companies (Bank Insight/Thomson Reuters) and bank simulation program (Pro-Banker) for Bank Management II course.
- Organized and coordinated Annual Financial Services Day with representatives from banks, insurance companies, real estate and investment brokerage firms.
- Maintained and continued upgrade of BANKSTAT, a quarterly peer group reporting subscription service for community banks. Existing clients include 31 banks (15.7% market share of privately held community banks ) to date, generating more than $12,000 in revenues.
Nine students participated in internships with companies during the spring/summer and fall semesters of 2012. Internships were established with banks, insurance companies, investment management firms and a budgeting position with a privately-held company.
- Primary research on trends in de novo bank performance and bank failure rates nationwide with specific emphasis on the Southeastern region (primarily Georgia and Florida). Data will be updated to include full year 2012 results and a report will be prepared for a peer-review journal or the Southern Business review in 2013.
- Peer group Analysis study completed for 18 Savannah-chapter employer-based and community-based Credit Unions and 75 credit unions in non-MSA geographic areas .
- Preparation of 38 separate Peer and Regional Group Performance Comparison reports for banks in GBA Regions #2, 6 and 8 to support the Southern Georgia Banking Conference sponsored by Valdosta State University. Fee Income of $1,400.
- Primary data base research on banking trends and bank failure rates in ten states to support grant project in 2012-2013 paper by Karen Hamilton.
- Quarterly comprehensive performance reporting through the BANKSTAT service listed and described under Key Activities and Accomplishments section above. Produced six separate reports per quarter for the fourth quarter 2011 (February 2012) and first three quarters for existing subscriber base.
- Successfully negotiated joint marketing agreement with the Georgia Bankers Association to promote our BANKSTAT service program. The product was listed as intellectual property of the University and administrative services were transferred to Research Services and Sponsored Programs.
- Excellent relationships developed with key regulators for Georgia including Thomas Dujenski, Regional Director of the Federal Deposit Insurance Corporation (FDIC), Robert Braswell, Commissioner of the Georgia Department of Finance and Banking, and Michael Johnson, Senior Vice President and Regional director, and Allen Stanley, Vice President of Supervision of the Federal Reserve Bank of Atlanta.
- Continued close working relationship with the Georgia Bankers Association and an associate membership with the Community Bankers Association of Georgia.
- Developed good working relationships with companies – Northwestern Mutual Financial Network , Merrill Lynch, Progressive Insurance, etc. – that have internship programs available for Georgia Southern University students.
- Prepared quarterly statistics and content for quarterly large bank and community bank articles written by Adam Van Brimmer, business reporter under relationship agreed upon between Ron Shiffler and the managing editor of the Savannah Morning News.
- Five radio interviews (Phil UNfiltered) with Phil Boyum on local radio station in Statesboro
- Speaking engagements:
- Downtown Statesboro Rotary Club
- Rotary Club of Vidalia/Lyons
- Chamber of Commerce -Metter/Swainsboro
- Rotary Club of Claxton
- Savannah Chapter of Coastal Georgia Credit Unions
- Presentation at South Georgia Bank Symposium (Valdosta)
Plans and Prospects
The focus of the Center’s efforts will be to build upon past activities and continue to provide value-added services to students and the contiguous financial services community. These activities will include:
- Host seventh annual Southeastern Region Community Bank Symposium in March .
- Establish the foundation and lay the ground work for a training program for bank employees and directors to begin in fall semester 2013. This will be the major revenue source for 2014 fiscal year activities by the Center. (2013-2014).
- Design and implement a website for the Center which will be the new distribution channel for Quarterly BANKSTAT reports Clients will have unique user IDS and passwords and will be able to retrieve quarterly reports and archives files of the previous four quarter reports. The website would also include a general section accessible to anyone with economic highlights as well as archives of applied research reports and written columns. Target date to go live is May 2013.
- Build the research resources of the Center by the limited and selective purchase of books, reference materials and videos, documenting this transformative period in the financial services industry. (continuous)
- Utilize BANKSTAT referral relationship with the Georgia Bankers Association to gain additional subscribers in the expanded metropolitan area of Atlanta Overall BANKSTAT goal is 40 subscribers by year-end 2013.
- Develop, design and produce CUSTAT – a quarterly regional and peer group financial performance summary – for employer-based and community-based credit unions in Georgia. Goal is 10-12 subscribers in 2013 and 20 subscribers by year end 2014.
(postponed from last year due to limited resources and family health considerations)
- Consulting projects in the pipeline are a written strategic plan for First Bank of Coastal Georgia (May-June 2013), and a site selection feasibility study for a new branch in contiguous counties for Core Credit Union.
- Serve as mentor for Honors Student research project involving a relative comparison of the strengths and weakness of the U.S. and German banking systems.
Edward H. Sibbald
Georgia Southern University
College of Business
P.O. Box 30462, Statesboro, GA 30458