■ Predictions for 2023
Continued From Page 8 growth prospects for New Jersey through customer service , sound underwriting practices and FDIC insured deposits .
Lakeland Bank Thomas Shara , President and CEO
Advancing digitization and connectivity across our business will continue to be a top operational priority in 2023 . Our industry , along with our customers and communities , will also face ongoing pressures of inflation , rising interest rates and the potential for economic recession . Meeting these challenges will require a strategic focus on scale , service and seeking incremental opportunities for growth and profitability .
M & T Bank Tom Comiskey , New Jersey Regional President
At M & T Bank , and within the wealth services we provide via Wilmington Trust , we ' re paying close attention to inflation and the looming specter of recession . We see food and rent costs remaining high with continued labor shortages into 2023 . As a leading SBA lender , it ' s paramount to support small businesses on a " micro " level while monitoring current " macro " business issues .
New Jersey Bankers Association Michael P . Affuso , Esq . President and CEO
New Jersey banks will continue , as they have in the past , to evolve in a competitive marketplace and to provide essential services and financing to grow New Jersey ’ s economy and fund the dreams of ordinary New Jerseyans by insuring access to home and business financing .
OceanFirst Bank Christopher D . Maher Chair & CEO Chair , New Jersey Bankers Association Board of Directors
Recent interest rate hikes underscore the value of high-quality deposits , which drive short term earnings momentum and are the primary determinant of franchise value for many banks . This environment will emphasize banks ' ability to compete for core consumer deposits and corporate treasury accounts , making a wide variety of digital products and services particularly critical . At OceanFirst Bank , our focus in 2023 will be on the funding franchise in what should prove to be a highly competitive market .
Santander Bank Ellen B . Marshall Executive Vice President and Head of Middle Market – New York and New Jersey
ESG ( Environmental , Social and
Governance ) considerations will continue to be a focus at Santander Bank . Our Commercial Banking customers are increasingly asking us to be financing partners in their ESG strategies as they recognize that ESG produces a competitive advantage . ESG improves performance , builds customer loyalty , attracts investors and lenders , creates more sustainable and resilient operations , and helps our customers align to expectations from stakeholders including employees , regulators and customers .
from our competitors and provide value in the year ahead .
COMMUNICATIONS / MARKETING
Caryl Communications Sandy Crisafulli , President
“ The evolution of technology and shifting media channels are transforming public relations strategy . In an established trend , growth among hyper-focused and hyper-local digital outlets continues to expand the editorial playing field well beyond the traditional newsroom . Further , an accelerating overlap among earned , owned and paid media – while against the grain for ‘ purists ’ – is creating new and significant opportunities for engagement .”
GT Marketing , Ltd Paul Nyfenger President
I believe that 2023 will continue the rebound of heavy business which consumed both the human and physical resources which were depleted during the pandemic . While the economic uncertainties of rising interest
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Banks are focusing on commercial banking clientele and “ relationship banking ”. |
Photo : Getty Images / iStockphoto / IR Stone |
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Valley Bank Ira Robbins CEO
A rising interest rate environment , global unrest and inflationary pressures will continue to create a volatile economic landscape in 2023 . That ’ s why it ’ s more important than ever to take a renewed focus on the concept of “ relationship banking .” We ’ re taking the time to partner with our clients , to learn their business and the challenges they face and offer customized solutions that are critical to their success . That ’ s how we ’ ll differentiate ourselves
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The power of the media is growing and influencing consumers in larger numbers . |
Photo : Getty Images / iStockphoto / Vertigo3d |
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