social media project university of washington march 2011
TRANSCRIPT
Mission Statement
“In serving the community at large, Plaza Bank will exceed customer expectations by providing solution-oriented banking services to small business and individuals with a particular focus on serving the needs of Latino-owned small business in Washington State.”
Company History
Chartered in early 2006 Opened the Seattle Branch June 2006 with
$22,000,000 in capital – highest capitalized de novo bank in Washington State history
Kent Branch opened in September 2006
Company History
Asset Growth (000,000)
Company History
Deposit Growth (000,000)
Community Involvement
Over 60% of the Kent Branch customers are Latino Active participant in the Link Deposit Program benefiting
minority businesses sponsored by the Washington State Office of Minority & Women’s Business Enterprises
Conduct quarterly financial literacy seminars Member Bank on Seattle program dedicated to moving
the “unbanked” into the financial mainstream Initial sponsor of V-Me a PBS Spanish language channel
of KCTS Seattle
Financial Highlights
Earnings Milestones• Monthly profitability achieved in October 2009• Net interest margin improving steadily to 4.04% (peer group
benchmark 3.70%)
Liquidity Condition• Balance Sheet liquidity = 24% (regulatory minimum 15%, policy
minimum 20%)
• Average Liquid Assets 2010 2009 2008$29.3MM $12.6MM
$2.6MM• $8.8 million discretionary deposit at Federal Reserve
Bank
Near Term Objectives
Build core deposits (consumer and business checking/money market accounts, consumer CD’s)
Grow with a focus on equipment and working capital loans for small business rather than real estate loans
Expand geographic coverage as earnings allow with ‘storefront’ branches, kiosks, mobile banking and loan production offices
Maintain 10% minimum capital ratio
Industry Use of Social Media
Financial Services Industry is notoriously conservative
Not typically ‘early adopters’ of technology Few have exploited Twitter or Facebook
Problem Statement/Expectations
Problem Plaza Bank has developed a
strong core competence in commercial banking. Accessing the consumer and small business target market has been challenging.
Management is uncertain of the role/use of social media in reaching the target market
The Bank’s web platform is inadequate to provide an enticing user experience
Project Goals Increase brand awareness
among consumers and small businesses
Pitch social media to management
Assess and recommend resources required to implement a viable social media presence
Define basic expectations for a complementary web platform from consumer’s point of view
Contact Points
Carlos DiBaldi, Relationship Managero Tel: 206-436 7616 (office); 206-377 9124 (mobile)o Email: [email protected]
George Armendariz, Chairmano Tel: 425-985 0437o Email: [email protected]
Bank Address:o Head Office: 1420 Fifth Ave, Suite 3700, Seattleo Branch: 207 W. Kent Station, Kent