Revitalizing Deposit Growth at a Midwestern Financial Institution

Over the past decade, a small financial institution in the Midwest experienced a steady decline in deposits. This case study outlines how a strategic growth initiative—driven by deep organizational discovery, stakeholder engagement, and disciplined implementation—reversed that trend, resulting in two consecutive quarters of deposit growth for the first time in over five years.

The institution serves a regional customer base and had historically relied on aging depositors without a clear segmentation strategy or business development goals. Internal dynamics, including fragmented priorities and lack of performance metrics, contributed to stagnation.

The core issue was a persistent decline in deposits, rooted in:
- Fragmented market segmentation
- An aging depositor base
- Absence of business development goals and performance metrics
 

These factors were compounded by internal roadblocks such as office politics, historical inertia, and lack of strategic alignment.

To address these challenges, the institution engaged Spayside Consulting LLC, a third-party consulting firm, to lead a comprehensive discovery process. 

This external partnership enabled:
- Honest, constructive dialogue across departments
- Compassionate navigation of sensitive internal dynamics
- Objective analysis of historical and operational barriers
 

The Spayside Consulting team conducted a deep dive into organizational structures, behaviors, and market positioning to uncover root causes and identify actionable solutions.

Following discovery, a strategic roadmap was developed to:
- Clarify segmentation and target markets
- Establish measurable business development goals
- Align leadership and staff around a shared vision
- Introduce project management discipline and performance monitoring
 

Once the institution bought into the plan, the Spayside Consulting team supported implementation, refinement, and ongoing measurement.

Within the first six months of implementation:
- The institution recorded two consecutive quarters of deposit growth
- This marked the first positive trend in over five years
- Staff engagement and strategic clarity improved significantly

This initiative reinforced several key insights:
- Discovery is critical: Understanding the full context—history, politics, and people—is essential to solving complex problems.
- Vision must be clear: A well-articulated plan helps unify stakeholders.
- Execution matters: Project management, consistent review, and adaptability drive results.

Strategic growth is achievable—even in legacy institutions facing long-term decline—when approached with empathy, rigor, and a commitment to transparency. This case demonstrates how external facilitation, structured planning, and disciplined execution can unlock meaningful transformation.

Contact Spayside Consulting LLC to help your financial institution thrive.