Plansmith Blog

Tom Parsons

Tom Parsons
has been in service of banks for longer than he'd admit. When he's not promoting Plansmith's unique approach to planning, he's dreaming about bikes.
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Recent Posts

Strategy Lessons From a Chess Grandmaster

Posted by Tom Parsons on 12/20/17 3:12 PM

Garry Kasparov. You might only know him as a former world chess champion; perhaps the greatest of all time.

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The 3 Reasons Strategic Plans Fail

Posted by Tom Parsons on 11/14/17 3:17 PM

Why does strategic planning matter? Jim Fugitte, Director of Strategic Advisory Services, explains that banks with a strategy outperform their peers – when they execute the plan.

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3 Key Components in Outsource IRR Analysis

Posted by Tom Parsons on 10/19/17 3:24 PM

The October 2017 issue of ICBA Independent Banker features Dave Wicklund and his views on selecting a service provider for outsourcing your IRR analysis. You can find the article on page 57.

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Customer Service and Social Media: A Lesson For Banks

Posted by Tom Parsons on 5/31/17 3:50 PM

Last month I experienced the best service possible. It was from American Airlines (no, really) – and it was through social media of all things.

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Run Your Meeting Like a Sales Pro: The Up-Front Contract

Posted by Tom Parsons on 2/22/17 8:29 AM

When I made the leap to marketing after years of sales, I immediately rewound the last 25 years and watched a virtual VHS tape (yes, that old - click this if you don't remember) in search of what I learned. You see, I didn't have the luxury of learning on the job this time, I had to apply what I already knew and apply it fast.

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Does Your Bank Look Trustworthy?

Posted by Tom Parsons on 2/8/17 9:30 AM

Trust. Nearly a decade after the global financial crisis, banks are still struggling to win it back from the general public. According to a recent study from Brunswick Group, only 27% of Americans trust banks. And globally, 56% of people favor smaller, more personal banks – this provides community banks with a huge opportunity.

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Another Reason to do Strategic Planning

Posted by Tom Parsons on 11/18/16 3:46 PM

I’ll Take BOSS for $1,000, Alex

Answer: “Because the OCC says so.”

What is “Why should I care about strategic planning?”

More specifically, Thomas J. Curry, Comptroller of the Currency says so. 

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Think | Plan | Execute

Posted by Tom Parsons on 10/19/16 2:07 PM

You've seen the Home Depot ad: "More Doing," and we agree. We think it's time for more doing, or in Plansmith parlance, execution. But what exactly do we mean?

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Bank CEOs and Directors: A Few Words on Risk Appetite

Posted by Tom Parsons on 8/4/16 11:21 AM

Risk Profile, Strategic Planning, Risk Appetite – all this and more in the Supervisory Insights April 2016 edition and its companion video released in July. Remember when these were all discussed independently? Examining each within the Corporate Governance Program is now the new hot button with regulatory agencies.

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Community Banks: Fun with Funds Transfer Pricing, Part II

Posted by Tom Parsons on 3/23/16 12:00 PM

In the previous post we explored the concept of funds transfer pricing (FTP), but only on the surface level. Now for the good stuff: how should the FTP rate be assigned? Well, in a number of ways from the simple to the complex. Like a lot of things in life, simple means fast, easy, less data, good enough; whereas complex requires lots of patience and data for a little more accuracy.

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