Banking consolidation: The increasing demand for personalized business solutions

The banking landscape is evolving dramatically, with large national banks acquiring smaller community-based institutions. This trend is reshaping how business is done, particularly in suburban areas.

As President and CEO of Pan American Bank & Trust, I've closely watched this shift. A key concern of mine is the potential loss of personalized service, an essential component of banking that forms the basis of robust, lasting relationships between banks and their business clients.

With their global footprints and vast customer bases, larger banks lean toward standardized products and solutions. Their structures are often rigid, with less flexibility for creativity in addressing individual client needs. However, a one-size-fits-all approach often falls short in the complex business world.

Moreover, the rigid structures of larger banks limit their availability. Most entrepreneurs work beyond the traditional 9-5 banking hours, requiring swift answers and assistance at all times of the day. Unfortunately, the bigger players' "banker's hours" often do not align with an entrepreneur's schedule. This lack of accessibility slows decision-making, thwarting their client's growth.

Our philosophy is not merely about providing round-the-clock service; it's about accessibility. It's about ensuring our clients can pick up the phone and reach us - yes, our actual cellphone numbers - whenever they need. We believe in jumping to assist, not hiding behind layers of bureaucracy. That's the personal touch we aim to deliver at every level.

More than just bankers, we consider ourselves fellow entrepreneurs. We understand our client's challenges and the value of a trusted coach and collaborator who can provide customized, innovative solutions.

Creating a culture of approachability and open dialogue is at the heart of what we do. We strive to make our clients feel comfortable, knowing they can always discuss their financial needs without hesitation.

And while larger banks don't have the capacity or interest to assist entrepreneurs who may not yet be financially ready for partnership, we see things differently. We believe it's sensible to support their journey, coach them and help them plan for the future. To us, every client represents potential, whether that involves providing a loan today or useful advice for tomorrow.

For us, banking is more than a business transaction; it's personal. It's about showing that we genuinely care. It's about lunch meetings, site visits and understanding the driving forces behind our clients' businesses.

Call it old school, but you can get much more accomplished in a conversation over coffee than through a string of emails. Trust and confidence in a banking institution are often forged during these face-to-face meetings with its leaders. During these interactions, we can truly understand a business owner's vision, concerns and aspirations. Moreover, we can see who they are as a whole person, gaining insights into the unique traits that shape their approach to business and life.

Conversely, the chance to meet leadership, let alone have a meaningful conversation with them, is a rarity in larger banking corporations. The personal connection, understanding and tailored solutions are lost in the chasm between the client and the decision-makers.

Bottom line: Business owners need to have faith in their bank as an institution that shares their values and understands their unique needs. Our commitment is to maintain the human element in banking, no matter how much the landscape around us changes. In this increasingly impersonal world, big banks mustn't lose sight of the enduring value of the personal touch, a cornerstone of meaningful, long-lasting business relationships.

• Frank Cerrone is vice chairman, president and CEO of Pan American Bank & Trust.