2,000
27
Analysis Paper, 2 pages (450 words)

Old national bank swot analysis

This analysis of Old National Bank starts with a brief SWOT Analysis and then takes a look at the current deposit marketshare of Vanderburgh County in Indiana. SWOT Analysis Strengths •Excellent customer service •Local Bank •Offer more than just checking and savings account •Variety of accounts to suit individuals’ needs Weaknesses •Not a national bank •Higher fees than other banks •No free checking accounts •Market limited to local area and surrounding counties Opportunities Growing demand for increased customer service in banking •Growing demand for increased accountability and responsibility in bankingThreats •Competitors enticing ONB customers away with free checking accounts •Increasing competition in local market •Competes with Integra and Fifth-Third Strengths/Opportunities Old National Bank (ONB)is a local bank that places emphasis on customer service and provides many services besides deposit accounts for its customers, such as: investments, retirement accounts, personal and student loans, insurance, wealth management, credit cards, and travel services.

ONB also offers a variety of checking and savings accounts with a variety of fees and benefits. ONB tries to be a “ one stop shop” for its customers. Because of recent events there has been an increasing demand in customer service in banking as well as increasing demand for accountability and responsibility in the baking industry as a whole.

ONB tries to focus on these improvements to keep is current customers and win new customers from its competitors. Weaknesses/Threats

The main weakness of ONB is the fact that it is a local bank, not a national bank like its competitors. Because of this, ONB has had to impose the new fee schedules that the government has imposed on the banking industry while its competitors have not. This means ONB does not have a free checking account anymore unlike its competitors. This been a huge blow to ONB and has caused ONB’s competitors to try and entice away its customers with offers of free checking accounts.

To offset this, ONB has tried to promote the benefits of its different accounts.

For example, the Bank at Work checking account offers free money orders and cashier’s checks. Deposit Marketshare Pending Ownership, including Bank, Savings Bank, Thrift Branches Ownership as of 10/13/2010, Branches and Deposits as of 6/30/2010 County: Vanderburgh, IN Source: http://www. snl. com/irweblinkx/depositmarketshare. aspx? iid= 100391 As can be seen from the table above, ONB has been on top in deposit marketshare in both 2009 and 2010.

However, ONB’s marketshare has shrunk in the past year as well as the marketshare of its biggest competitor, Fifth Third Bancorp.

However, the marketshare of both ONB and Fifth-Third’s competitor, Integra, has grown in the past year. Plus, the overall marketshare has increased in the past year. Both ONB and Fifth-Third are losing customers to Inetgra. According to this information, ONB seem to be doing all right but it will need to work on keeping its current customers and attracting new customers if it wants to stay on top in Vanderburgh County, Indiana.

Thank's for Your Vote!
Old national bank swot analysis. Page 1
Old national bank swot analysis. Page 2
Old national bank swot analysis. Page 3

This work, titled "Old national bank swot analysis" was written and willingly shared by a fellow student. This sample can be utilized as a research and reference resource to aid in the writing of your own work. Any use of the work that does not include an appropriate citation is banned.

If you are the owner of this work and don’t want it to be published on AssignBuster, request its removal.

Request Removal
Cite this Analysis Paper

References

AssignBuster. (2022) 'Old national bank swot analysis'. 5 September.

Reference

AssignBuster. (2022, September 5). Old national bank swot analysis. Retrieved from https://assignbuster.com/old-national-bank-swot-analysis/

References

AssignBuster. 2022. "Old national bank swot analysis." September 5, 2022. https://assignbuster.com/old-national-bank-swot-analysis/.

1. AssignBuster. "Old national bank swot analysis." September 5, 2022. https://assignbuster.com/old-national-bank-swot-analysis/.


Bibliography


AssignBuster. "Old national bank swot analysis." September 5, 2022. https://assignbuster.com/old-national-bank-swot-analysis/.

Work Cited

"Old national bank swot analysis." AssignBuster, 5 Sept. 2022, assignbuster.com/old-national-bank-swot-analysis/.

Get in Touch

Please, let us know if you have any ideas on improving Old national bank swot analysis, or our service. We will be happy to hear what you think: [email protected]