Five Star Bank finds success in new branding - Business First of Buffalo:

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The lender with the newly minted name is gatheringb momentum through a more unified marketing approac h forbranding purposes, better internal operating efficienciez and improved lending practices that translate to faster loan The bank has cut $6 million in operating costs, leveraged more technologyu and only consolidated functions that didn'yt affect customer service, said the bank's top executive. Also, mortgage and refinancew closings are done in halfthe Still, the goal is to reducre that time even more. Five Star Bank Presideny and CEO Peter Humphrehy is doing far more than callingv the signalsthese days.
He's leadint the charge of gettinv branch managers out in communities to spread the The marketing approachis simple. "Go see them," he said. It'xs no secret the bank president woul rather see his managers meeting and greeting people in theif communities than comfortably sittingf behinda desk. "This year we're making 25,000 to 30,00p0 in-person calls to commercial andretail customers," he Assisting community growth is key to helpin g Five Star Bank prosper. "Wed can only perform as good as themarket we're Humphrey said.
Being actively involved in communities and openin g the lines of communication are renewed Five Star Bank is looking to becustomer - and community-focused, said the fourth generation of his family to lead the bank with ties goinhg back to 1817 with the . To reinforc the philosophy shift, the financial institution had to gain a strongeermarketing voice. "We merged the four banks 15 monthd ago and it was very well Humphrey said of the bank with a marketr valueof $220 million and $2 billion in totap assets. "We're more efficient, effective and more he said.
Faced with the challenge of strengtheniny thebrand name, lowering operatin g costs and improving lending practices, parent company in Warsaw took several proactiv steps. Among them was establishing a unifie d brand by consolidating four banksinto one, all under the same All 50 branches of the National Bank of , & Trust and also were renamecd Five Star Bank. The approach is working. First-quartet loans totaled $929.3 million, up from $926. 5 million in the prior-year quarter.
the bank's earnings are up 20 percent from the previous But one thing Humphrey tries to impresds upon whomever he meets is that Five Star Bank has stripperd away bureaucratic layers that can make lenderswact slowly. "Decision-making is still local" at brancuh banks."