A Cinderella story: how marketing, among other things, helped a fading bank to reposition itself, enhance its image and rejuvenate the brand.
ABA Bank Marketing › Vol. 39 Nbr. 1, January 2007
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Turnarounds
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A Cinderella story: how marketing, among other things, helped a fading bank to reposition itself, enhance its image and rejuvenate the brand.
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Back in the 1980. University Bank had fallen on hard times. The neighborhood in which it was located--known as Frogtown in St. Paul, Minn.--was going through an extended economic slump. The former bank management viewed this deterioration as a liability, and focused the majority of their lending to wealthier communities. Unfortunately, the bank's assets eventually declined to the point that the institution had to be taken over by bank regulators. In 1995. the bank was purchased by a father-and-son team who believed that they could turn it around. A key pare of their st...See the full content of this document
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