What Makes a "Good Banker"?
Amy Lou Blunt • Executive Vice President, Chief Credit Officer
You entrust us with your information, funds and future growth. How do we build a team that is not only deserving of that trust, but can also confidently advise and support you in achieving your business goals?
Banking professionals deal with numerous responsibilities and regulatory compliance in a highly competitive industry. Their mission is your success, the Bank’s success and their own professional success and advancement. With so much on the line, a banker needs to embody a broad range of qualities.
1) The attributes that make up a "good banker" are led, first and formost, by personal integrity
2) Hot on the heals is the ability to exercise good judgment, encompassing knoweldge, intelligence, and depth of experience
3) A good tactician can structure transactions and effectively negotiate
4) Highly developed communication skills are critical to communicate clearly and professionally
5) An open personality and enthusiasm for the work contribute to success exponentially
6) The best also see a world beyond their immediate sphere, and commit to outside causes that are important to them
Team building is a challenge across all industries, and banking is truly a collaborative effort. Strong team players set high expectations for their own work, and are not afraid to seek help from others. Great team players recognize the gratification that collaboration brings, committing to the collective effort.
When an organization finds a core team of people with these capabilities, there are few limits to what can be accomplished. With these attributes in mind, we are continuing to build and enhance our RBAZ team of bankers to support your success, our success and our community.
In the Community
Celebrating Our Move
We're so excited to be fully moved into our new location at 645 E. Missouri Avenue, Suite 108. It feels like a fresh start for great things to come for Republic Bank of Arizona. There are so many people to thank for helping us achieve this milestone. The list is long, but a special thanks to Cresa, DWL Architects, Goodmans, Blue Fox, Walker Security, and especially the Republic Bank of Arizona team that contributed.
Also, we thank the Greater Phoenix Chamber of Commerce for helping us celebrate with a traditional ribbon cutting. It really tops off a hectic, but very satisfying month for us at Republic Bank of Arizona.
Please come see us at our new location. As you can probably tell, we're very proud of our new diggs!
Cultivating a Caring Culture
While serving in the US Navy, Republic Bank of Arizona Banker Phil Meeks gained experiences both positive and negative. One of the things he values most was the opportunity to make a difference in people's lives through community outreach programs.
After leaving the Navy, he found he still wanted to participate in some form of community engagement and discovered that opportunity with the Big Brother and Big Sisters organization.
"I was matched with my 'Little Brother' Jay in 2009 when he was 10 years old and I have had the remarkable opportunity to watch him grow to be a respectful, bright and kind young man," said Meeks.
At the Bank's last shareholders meeting, Meeks met Anne Lorimer and learned about the nonprofit she founded called the Challenge Youth Fund, an organization dedicated to helping underprivileged children and teens receive education and mentoring.
"At the time of our discussion she was hoping to find another applicant for a scholarship to attend a weeklong entrepreneur's workshop and conference for teens in Orlando," said Meeks. "We talked about her foundation, and my involvement with Big Brothers Big Sisters and she encouraged me to discuss the program with Jay.
"My little brother was interested but hesitant to believe that he could receive such a scholarship, but still he wrote a terrific application letter to the foundation and was given a spot to attend the conference."
The group of four teenagers and two adults recently made the trip to Orlando, and upon his return Jay couldn't stop telling Meeks how great the experience was. "I can't begin to explain what this experience means to him," said Meeks. "It taught him some basic finance skills and how to network, but more than that it showed him that he is worthy of sponsorship, that opportunities can open up for him. That's huge.
"For me, it has been refreshing to see the kind of culture that is reflected not only by the officers and employees of Republic Bank of Arizona, but also by the board members and shareholders I've had the pleasure to meet over the last year – like Anne Lorimor."
Big Brothers Big Sisters of Central Arizona is always in need of more male mentors. Please contact Jessica Whitney to apply today! email@example.com or visit the website at www.bbbsaz.org.
Is Equity Financing Right for You
By Amy Blunt, Chief Credit Officer, Republic Bank of Arizona
Equity financing provided by an angel investor or venture capital fund (think "Shark Tank") carries no scheduled monthly payments, and provides extra working capital that can be used to grow and market your business. An advantage is that the investor takes the risk – if your company fails, there is no obligation to repay.
However, to offset that risk, you will be granting your potential investor an ownership interest in your company, and a voice in the decision-making process. Profits will be shared, and, should you want to disengage, buying out an investor can be expensive, typically costing a great deal more than the original investment.
Equity financing is a mixed bag of benefit and cost. If you choose the right investor, they could provide expertise in running the company, establish business connections and offer valuable advice; however, the loss of control over the operation, the duty to inform investors of significant events, and sharing business profits can prove costly in the long run.
A final thought
Remember, the equity you have in your company is not only your initial investment, but also includes retained earnings from profitable years of operations. You could potentially create additional equity and free up funds for growth internally, through expense reduction and by minimizing the level of owner distributions to simply cover the income tax obligation. That level of discipline could quickly bolster the capitalization of your company, providing the foundation for growth, either type of financing, and ultimately reward you many times over!
Important Information About Opening A Legal Entity Account
Effective May 11, 2018, new rules under the Bank Secrecy Act will aid the government in the fight against crimes to evade financial measures designed to combat terrorism and other national security threats.
EACH time an account is opened for a covered Legal Entity, we are required to ask you for identifying information (name, address, date of birth, social security number as well as identification documents) for:
- Each individual that has beneficial ownership (25% or more); and,
- One individual that has significant managerial control, of the Legal Entity.
If you are opening an account on behalf of a Legal Entity, you will be required to provide the appropriate documentation and to certify that this information is true and accurate to the best of your knowledge.
We proudly support all efforts to protect and maintain the security of our customers and our country.
For the Quarter Ending March 31, 2018
(May 11, 2018)
For the Quarter Ending December 31, 2017
(February 8, 2018)
as Vice President, Commercial Banking
(January 3, 2018)
For the Quarter Ending September 30, 2017
(November 3, 2017)
From RepublicBankAZ to Republic Bank of Arizona
(October 20, 2017)
For the Quarter Ending June 30, 2017
(August 7, 2017)
For the Quarter Ending March 31, 2017
(May 5, 2017)
For the Year Ending December 31, 2016
(February 9, 2017)
as Vice President, SBA Banking Officer
(November 30, 2016)
as Executive Vice President, Chief Credit Officer
(October 22, 2015)