Fritz Elmendorf Banks Quotations

Banks have various sources of earnings. If a bank is large enough to have international operations, it has evolved enough diversification to counteract those losses.

Small banks come out with an edge on pricing, but what is not measured is the convenience factor.

Small businesses are very important customers for banks today because there are more of them than ever before and each and every bank is fighting to get them.

The larger banks are seeing a lot of market share in this area, but the larger credit unions and the ones being run by ex-bankers are setting up arrangements where a non-member can finance a car right at the dealership just by signing up to be a member.

Any change in rates on home equity lines is directly related to the actions of the Fed. On average, their rates are 1 percent over the prime rate, but some banks even offer home equity lines at the prime. Home equity lines are probably the cheapest way that homeowners can currently borrow money.

The broad trend among banks is to service customers almost regardless of their credit standing. They do not want to turn a customer away, particularly if it's a customer with a checking account or another relationship.