The profitability issue of the Independent Banker had several great articles. Their research has shown that the average efficiency ratio for a community bank is 73%. But there was an article ‘A Great Measuring Stick’ that stated that the goal of a bank should be an efficiency ratio of 50% or less. This is quite a difference. Controlling costs (overhead) is not an easy job, but very profitable when done right. Check out this article for more details. https://independentbanker.org/2016/08/a-great-measuring-stick/
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