Bound by Banking
“What is the difference between a sunburn and a laser that can cut through a diamond? Focus.”
In our latest episode of Bound by Banking, we sat down with Micah Bartlett, a 33-year banking veteran and former CEO of Town & Country Bank. Micah shared a masterclass on why community banks often struggle to grow. Not because they aren’t working hard, but because they are trying to do too much.
1 – The Looming Deposit Crisis
While most bankers obsess over loan demand, Micah argues that the real long-term constraint is core funding. With the rise of digital-first alternatives and a massive generational wealth transfer on the horizon, deposits are leaking out of the traditional system.
To combat this, Micah suggests a two-pronged approach:
- Segment Relentlessly: Understand who is rate-sensitive and who is relationship-driven so you can tailor your retention strategies.
- Balance-Sheet-Light Revenue: Look for ways to provide financial services that generate fee income without tying up capital on the balance sheet.
2 – Stop Being “All Things to All People”
Micah notes that banks often over-complicate marketing by trying to hit every medium (TV, radio, billboards, and social) with a watered-down message about “great service.”
“If you’re not able to deliver a message that’s compelling or truly differentiated, it’s a message that’s getting lost. It’s better to simplify and say, ‘Here is our thing,’ and hammer that in everything you do.”
3 – The “Sun vs. Laser” Philosophy
The secret to avoiding burnout isn’t a better calendar app; it’s the courage to say “no.” Micah explains that growth happens when you identify what you are already successful at and de-emphasize the rest. He even used a great analogy to drive home the point.
- The Sun gives off billions of kilowatts but only results in a sunburn because the energy is scattered.
- The Laser uses only a few kilowatts but is so focused it can cut through steel.
The strategy is core focus.” For Micah’s bank, that meant focusing on commercial relationships and mortgage lending. They didn’t stop doing consumer loans, but they automated the process to ensure those tasks didn’t bog down their employees.
Community banking is the lifeblood of small business lending, but to survive the next decade, banks must evolve. As Micah puts it: “Focus and do less.” It’s a better way to run a business, and a better way to live a life.
