Carl Taber

Say the words “bank” or “financial institution” and what immediately comes to mind are numbers, and with good reason.  After all, the primary functions of banking are to assemble capital, receive deposits, transfer funds and lend. Bankers’ lingo is continually peppered with the phrases “interest rate,” “return on investment” and “principal amount.” Cut and dry; to the point; boiled down in digits. 

And while there’s no denying that banking is as competitive as any other industry, a large number next to a dollar sign doesn’t tell the whole truth of how a bank is operating, for that truth lies in how a bank is making a difference in its customers’ lives. 

Behind every statistic lies hundreds of a bank’s customers. Every deposit, every mortgage, every small business loan represents people. Families with children, young couples starting out, students working two part-time jobs while attending college, mom and pop businesses – their circumstances may vary, but they all have the common daily goal of trying to retain control of their lives and make the right decisions. All this with many lying awake at night and wondering how they’re going to get through tomorrow. 

There Is No ‘Try’ 

The measure of success isn’t about meeting quotas.  It’s about meeting needs in tangible and quantifiable ways that make a genuine difference in the lives of those people behind the numbers. 

There’s no halfway about it. To quote Yoda, “Do or do not. There is no ‘try.’” When the sun is shining, it’s much easier to “do” but the true test is when those clouds roll in – and we’ve all been inundated with clouds these past months. 

We pray for sunshine but prepare for rain. We strive to help our valued clients do the same by providing them with the education needed to make sound decisions both within and beyond the realm of personal finances.  

We recognize that customers who come to us for loans have specific needs; a cookie cutter approach is not the way we operate. Each and every loan tells a personal story. A vehicle for that college graduate in the family, equipment upgrades for a diner, a new roof on the house – these loans are narratives of customers’ lives.  

Compassion at the Core 

We also recognize the very real pain many of our clients are experiencing during this extraordinarily challenging year. Jobs slashed, savings depleted, businesses shuttered and, worst of all, lives lost. We’ve listened to the fears and heard the tears in our customers’ voices.  

There are many whose dreams of home ownership have been shattered, or whose fledgling businesses placed on hold. We wish we had a crystal ball so we could tell these valued customers when the trying times will be over, but we don’t. But what we can do is be here for them when the time is once again right to follow those dreams. 

Our community organizations are likewise experiencing the distress borne of these unprecedented times. Recreational activities placed on hold, joyful gatherings halted, fundraising efforts thwarted. As a local bank, we feel it a responsibility to step high up to the plate when our communities are in need, and right now the need is great. The coronavirus has and will continue to pose a threat to our overall economy, particularly for low-income communities that were struggling prior to the COVID-19 pandemic. Banks are in a position to provide a leadership role during this trying time.  

At our core our culture is care and compassion. Yes, we’re a business, make no mistake about it. We’re good at doing the things banks are supposed to do. Our cash flow, our loan volume and all other fiscal actions that makes for a rock-solid financial institution – we’ve got it all covered and we take pride in that. But ultimately, we’re in the business of helping people. Our clients have come to rely on a bank with “people” who are dedicated to answering their questions, listening to their concerns and providing solutions to their problems.  

At BayCoast, being good at what every bank is supposed to be good at isn’t enough. We like to think we’re good at being what every bank should be – helping customers sleep at night so they can rise and face each day with strength.   

Carl Taber is executive vice president and chief lending officer at BayCoast Bank.