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Bank Merger Needs Theme
Posted By: kbordsen* on 6/13/2006 3:44 PM (CST) 250 Points
I work for a small-ish bank that has bought another bank and is going through the M&A process. The new combined bank will retain the name of my bank, but the bank we are buying has 4 branches located in small, rural communities. We are concerned about their customer reactions, so we are trying to put the emphasis on the fact that this is a MERGER, not an unfriendly takeover. We are looking for ideas on how to get this point across. One possible idea is having a wedding "theme." This would entail announcements, a "rehearsal dinner" (employees of both banks), and a wedding "reception" (customers will be invited to this). Any opinions, suggestions, advice, etc. are welcome!

Posted by: ShannonD* Accepted Answer
6/13/2006 3:57 PM (CST)
Well, let me share from a Louisiana stand point. One of our largest and oldest banks in our states history (Hibernia) just merged with Capital One. The way they did was just let it happen. You started seeing signs change and the next thing you see is commercials showing trucks with the new signs on them. They were showing that everything is the same, with just a new name. All that means to them is more opportunity for banking and other places to do it. Most of us down here were very surprised, but nobody ran away screaming when it happened. I think you'll be just fine if you just focus any P.R. or ad media that it is a friendly joining of two friends.

I like the theme idea you have as well. One bank will take the others name. Just try not to be too cheesy with how you go about the idea like trying to dress up two people to be the bank. I would rather see something along the lines of two people getting married, the idea behind joining together, and presenting both your banks names. Something very elegant if you want.

As far as what you do with the employee's, I think that would be a fun transition for them having a rehearsal, and a reception to your big announcemnt. I'm not sure if I would invite all the customers to the reception, but maybe I would offer a reception gift to all members who start new accounts during the transition time.

Good luck with your merger, just keep joining a key word

Shannon D
 
Posted by: stevea Member Response
6/13/2006 4:39 PM (CST)
You have everything potentially on your side, and it couldn’t happen in the UK. You have the benefits of merging with small rural banks which presumably have a very, very personal level of service, but which can’t bring the economies of scale and advantages which a larger bank can offer – heck, rural US banks invented financial CRM about 150 years before computers were invented in order to muck it up! So cherish the local and personal relationships and try to build on them by involving as many of the customers in your celebrations as you can.

And yes, having a themed series of events is great, especially if it helps to cement the relationships between the staff of the two organisations. Personally, I find the marriage idea a bit schmaltzy, but that’s probably because I’m British and somewhat reserved.

If you asked someone from this side of the pond for a setting, we would be incorrigibly influenced by Hollywood westerns, which probably wouldn’t work over there. Imagine having the four local banks hijacked by the bad guys, riding into town wearing black Stetsons and shooting the place up. Your blokes on white chargers, bearing shiny deputy marshal’s badges and six-guns could liberate them and everyone could ride off into the cactus lined sunset to the tune of a decent hoedown.

As I’ve said before, beware an Englishman bearing Aesthetics!

Good luck and can I come to the party?

Steve Alker
Unimax Solutions
 
Posted by: Brenda Combs Accepted Answer
6/13/2006 10:31 PM (CST)
I have several years bank marketing experience and have witnessed others and lived through my own corporate merger.
My suggestion would be to use a health theme and tie things in to more muscle, better prepared for what is ahead, getting in shape to compete. Offer a couple health related seminars involving local health partners. Promote products that tie into being financially fit, offer free financial check ups, get your finances in shape, etc. Sort of a "together we can get ourselves in better shape" There are endless health related terms, promotional items, etc. that can easily tie into healthy financial partnerships that will appeal to win/win for the bank and for the consumer.
 
Posted by: kbordsen* Author Response
6/14/2006 7:26 AM (CST)
Wow-- thank you so much for your feedback! There were some great ideas in there. Ideally, I'd like to go to the boss with several well thought-out "themes" or ideas and have him choose. The wedding theme is definintely still in the running, although I realize there will be a fine line between a cheesy event and a successful one. The health theme is also a really good idea. Our company just started a Wellness Program, so it would definitely be relevant. Can you think of any taglines we could use to go along with those? We thought of "changing names-- not faces," but nothing theme-specific so far...
 
Posted by: NuCoPro Accepted Answer
6/14/2006 8:20 AM (CST)
IF you go with the wedding theme, which I like, I wouldn't do the "reception" as an event at some off site facility. Instead I would run the "reception" as a week long event and decorate each bank in appropriate wedding banners, streamers, balloons and flowers. Regarding the latter, I would just have a couple of arrangements at each branch. I would also get a bakery to create a "wedding" cake for each branch and designate Saturday as "come and pick up your wedding cake" day.

I would create "wedding invitations" to send to ALL the customers of both banks. Your CEO's would be the parents and the banks would be the bride and groom. In the invitation tell people the "reception" is on Saturday (insert date) and that everyone is invited for a piece of wedding cake and a drink of punch (or some such beverage).

You were correct to select this theme as it will REALLY get the message across to your customers and will product a LOT of good will for the "new couple!"
 
Posted by: MANSING Member Response
6/14/2006 8:49 AM (CST)
Hi Kbordsen,

Sounds interesting! This is my first time, I am giving my opinion on merger and acquisitions (M&A). What I know about merger and acquisitions(M&A) is: two or more corporations by the transfer of all property to a single corporation.

An acquisition (one large buying one small) can involve a cash and debt combination. The less important company loses its identity and becomes part of the more important corporation, which retains its identity. As per our above discussion I will suggest, the two bank needs to establish there same identity under one umbrella.

From the given information: you can convince your customers by producing financial report for bank (Including profit and loss statement for each bank), why did M&A become necessary? How it will bring strong position to company? What are the advantages of merge? Let them know it is all for them! How it will be effect on banking share, bonds, stock and other financial services for banking customers.

I will prefer to produce all banking information (investment opportunity for stockholders, new employment, new ideas of service and cost advantage) and will forward to every bank, current/ex customers, share holders, stake holders, govt agencies, banking agencies, other banks, stock exchange and financial institutes.

As per as the theme is concern, I will prefer to hint the common areas of interest, update with new logo, colour, dress code, cash machine, introducing new product (new credit card service), new banking awards on the name of M&A, new answer phone theme/reception and managerial discipline.

The theme will consider following points before going to do market research: combination of products and service, local music, famous singer in that area, local attraction and air advertisement.

Public meeting, annual gathering or stakeholders meeting will be the best idea to deliver the idea.

I hope this will help.

Regards,

M Bhor
 
Posted by: rbauman* Accepted Answer
6/14/2006 10:10 AM (CST)
To reinforce the concept of a merger as opposed to a take-over, write the communication pieces that go out to customers in the names of the existing staff at each branch to project the image of stability. Focus on the fact that the same friendly, helpful staff will still be available to help customers but will not have access to more resources due to the merger.
 
Posted by: kbordsen* Author Response
6/19/2006 7:12 AM (CST)
Great ideas for merger themes-- now how about some taglines??!!
 
Posted by: NuCoPro Member Response
6/19/2006 12:58 PM (CST)
A New Family in Town!

Creating a New Family to Strengthen our Community
 


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