Open Enrollment | Subscribe to Target Marketing HERE
Connect
Follow us on
Advertisement
 

The World’s Greatest Banker

Frank Brock, President, First Bank of Troy, Idaho

July 22, 2014 By Denny Hatch
4
Get the Flash Player to see this rotator.
 
This is the era of bad-ass bankers and banks "too big to fail." For example:

• In 2013: Eight international banks were fined $2.3 billion in a global LIBOR-rigging scandal.

•In 2014: Wall Street banks and their foreign competitors were assessed fines of $100 billion as settlements in the financial crisis of 2008. Among them: JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, Morgan Stanley and Goldman Sachs.

This is roughly the entire GDP of Monaco.

An Extraordinary Email
What triggered this column was the message from a reader who came across a story I wrote 10 years ago about the world's greatest banker. She, too, knew this bank and had some fascinating new information about him. Here goes:

Bob Hemmings is one of the great men of direct marketing. Now in his 90s and proprietor of the Hemmings IV Direct agency in Pasadena, Calif., Hemmings is dapper, intense, powerfully built, immediately recognizable with his Adolph Menjou mustache and bone crusher of a handshake.

In his younger days, an employer of Hemmings was Frank Brock, president of the First Bank of Troy, Idaho. Troy's population in 1960 was 514; Brock's bank had 6,000 active accounts—12 times as many people who lived in the town. He had customers in 45 states, and around the world as far away as Pago Pago, American Samoa.

What was Brock's secret?

Hemmings recalled that Brock knew precisely what business he was in. "I am in the financial services business to help provide finances for my customers—from the cradle to the grave," he said.

Brock once made a loan to a man who had robbed the bank five years before. He was caught and served three years in prison. Brock said: "He has learned his lesson. I don't hold past mistakes against him. He is a much more stable individual now."

According to Hemmings, Frank Brock knew practically all of his customers by their first names; whenever a good loan customer ran into financial difficulty, the bank carried him—without dunning notices or pilling up interest charges—until he was back on his feet.

 

Companies Mentioned:

4

SPONSORED CONTENT

MORE ON DATABASE, LISTS AND CRM >>

FROM THE BOOKSTORE

Written by Millennials about Millennials, Cause for Change: Examines how Millennials communicate, volunteer, take action, influence their peers, and choose to give their time and moneyExplains how Millennials view their role in the workplace, and how their approach is re-shaping nonprofit culture from within Cause for Change: The Why and How of Nonprofit Millennial Engagement

Written by Millennials about Millennials, Cause for Change:
Examines how Millennials communicate, volunteer, take action, influence their peers, and choose to give their time and moneyExplains how Millennials view their role in the workplace, and how their approach is re-shaping nonprofit culture from within...

ORDER NOW

Reading The Ultimate  Insider’s Guide to Winning Foundation Grants is like peeking at someone’s  secret diary or personal email.  You feel  guilty.  This is privileged information.
Only in this case Martin Teitel WANTS to reveal everything  to you. A
 long-time foundation CEO, he’s fed up with the smoke and mirrors of  
grant seeking. Ultimate Insider's Guide to Winning Foundation Grants

Reading The Ultimate Insider’s Guide to Winning Foundation Grants is like peeking at someone’s secret diary or personal email. You feel guilty. This is privileged information. Only in this case Martin Teitel WANTS to reveal everything to you. A long-time foundation CEO, he’s fed up with the smoke and mirrors of...

ORDER NOW

 

COMMENTS

Click here to leave a comment...
Comment *
Most Recent Comments: