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Seasons change

Oct 07, 2020
Financial Institutions

Now that we’re officially in the fall season, I was out this weekend with some friends looking at the color changes in the leaves. What a beautiful time of year! Although it was a bit cloudy, which did not allow for the normal highlighting of the colors we typically get this time of year, it was still beautiful. And it probably will get even better for a few more days, before we lose the leaves completely in this annual ritual.

As I was enjoying the sights and contemplating another season change, I found myself humming to the Exposé hit from the 1980s, Seasons Change. Some of the lyrics hit home: “Seasons change.” “Feels like it’s forever.” “Time just runs away. No more day by day.” Wow — how true are those words as it relates not only to the season, but to 2020 in general? I think the general consensus of most I talk to is they can’t wait for this “season” to change and get to 2021!

Certainly 2020 continues to be a challenge for many, if not most institutions. When will COVID-19 end (or maybe, how much longer will it and restrictions last)? When will PPP forgiveness be finalized? Will interest rates and margins rise? Will we need the real estate and people we have always had? Should I be compensating our people differently given competition and changed roles? Are my technology platforms adequate for the future? What are my strategies to address these and all the other risks and items we have to deal with?

If you are asking these questions, you are not alone. Most institutions are facing the same issues. While many of these may be somewhat out of our control, there are certain things we can do to minimize any negative impacts. If you are unsure how to address these and any other strategic or operational issues you are facing, consider contacting us or your Wipfli relationship executive to help you address and deal with these important issues. As a client told me recently, “We only have limited resources to address these issues, and we need to get them right!” We can’t just wait for things to happen.

Seasons change. While I can’t accelerate the coming of spring, I can certainly take some steps to make things in the interim (winter) easier!

Related content:

Change is the constant, but culture is the key

How financial institutions should handle accounting for PPP loan fees

It’s not a short list: Financial institution ISO roles and responsibilities


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