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Strategic expansion is key in business but it comes with challenges.
Jude Melville, chairman and CEO of b1Bank, shared some tips on how banks can balance the risks and rewards of expansion and much more in the latest episode of Business Report’s “Strictly Business.”
Melville discussed the bank’s strategy for expansion, maintaining company culture and values and the potential biggest disruptor for community banks and how to address it.
He also emphasized the importance of having the right people in place.
“Our drive to be bigger and in new markets has been about making sure that we’re doing the right things to diversify our risk,” Melville says. “You can have a thousand clients, but if you’re not here five, 10, 15 years from now to be able to serve those clients, then you’re not any better off than not existing. It’s about being better instead of bigger, which comes naturally when you’re better.”
