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Published byJesse Ferguson Modified over 9 years ago
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Social Media Project University of Washington March 2011
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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.”
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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
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Company History Asset Growth (000,000)
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Company History Deposit Growth (000,000)
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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
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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
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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
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Industry Use of Social Media Financial Services Industry is notoriously conservative Not typically ‘early adopters’ of technology Few have exploited Twitter or Facebook
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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
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Contact Points Carlos DiBaldi, Relationship Manager o Tel: 206-436 7616 (office); 206-377 9124 (mobile) o Email: cdibaldi@plazabankwa.comcdibaldi@plazabankwa.com George Armendariz, Chairman o Tel: 425-985 0437 o Email: garmendariz@plazabankwa.comgarmendariz@plazabankwa.com Bank Address: o Head Office: 1420 Fifth Ave, Suite 3700, Seattle o Branch: 207 W. Kent Station, Kent
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