Early February, we hosted the 2012 Regional Business Outlook at the Hyatt Regency in Sacramento. More than 300 attendees, comprised of C-level executives and key business owners throughout the region, listened intently as master of ceremonies and River City Bank brand advocate, Kelly Brothers, partner at Genovese, Burford & Brothers, shared investment information and guided candid, thought-provoking and practical discussions from noted keynote speakers including our own President and Chief Executive Officer, Steve Fleming. Additional keynote speakers included Steve Currall, Dean of the Graduate School of Management for the University of California at Davis; Eric Stille, President of Nugget Market, Inc.; and, comedian Jack Gallagher.
The Business Outlook first started in 2009 to equip customers with banking and financial insight. The event, now in its fourth year, serves as a best practice for us in providing additional resources to our customers and key business influencers in the Sacramento region. When asked about the event, Steve Fleming said, “As the region’s premier financial institution, this is exactly the type of executive-level service you can expect from River City Bank.”
So, what does the economic forecast look like? Here are a few highlights from the event:
Trends in Banking
Provided by Steve Fleming, President and Chief Executive Officer, River City Bank
1. Interest rates are at historical lows and expected to stay there for at least a few years
2. Large In-flow of Liquidity (i.e. deposits)
3. Banks are challenged to find assets which have attractive risk-reward characteristics
4. Long-term trend toward industry consolidation will continue
5. Economics of branch banking have changed significantly
6. Bank failures will continue, but at slower pace than many expected a few years ago
7. Government will continue to be a major player in the housing finance market
“We have a once-in-a-generation opportunity to transform economic development in our region,” said Steve Currall. “To do this we must foster an ecosystem that includes universities, start-ups, large companies, entrepreneurs’ network, and investors; identify national best practices and models; and, identify lessons learned in other cities.”
“Leaders get the behavior they exhibit and tolerate, “said Eric Stille. “The success of Nugget Market is due to our employees; they are like family.”
Thank you to all who attended the 2012 Regional Business Outlook. We hope the event was both informative and inspirational. Please continue to share any highlights or key insights from the event by commenting below.
We look forward to the year ahead and to the next Regional Business Outlook in 2013!