Future Forces in Banking 2022 Survey

What are the prospects for profitability, growth, and the economy? What impact will the non-traditional digital disruptors have? And what are the long-term prospects for the future of banking?

In this survey, we set out to answer these questions and more... with your help!

The survey for U.S. bank and credit union executives and directors comprises only 12 questions, plus four background questions, and will take less than 6 minutes to complete. As a thank you for participating, you'll receive a complimentary report summary of the valuable findings.

SouthState Bank and CS Consulting Group have created this survey and will collect the results. Your identity and answers will remain confidential, and the data will be aggregated for analysis only.

Thank you for participating and measuring the future pulse of banking executives and directors. Please take a few minutes to complete the survey now.

Question Title

* 1. Your type of financial institution?

Bank

Credit Union

Fintech

Other

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* 2. Your asset size?

$0 - 249 million

$250 - 999 million

$1 - $9 billion

$10B - $49 billion

$50+ billion or greater

None of the above/Not Applicable

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* 3. Your position?

Executive management (C-level; EVP)

Board of Director

Senior management

Other Management

Other

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* 4. Your email address? (exclusively for sending survey results/report)

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* 5. The Fed Funds rate is expected to peak at 4.75% - 5.00% in early 2023. Do you think:

That is about accurate

The Fed Funds Rate peak will be higher

The Fed Funds Rate will be lower

Not sure

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* 6. When do you expect the next recession to begin in the US?

We are in one now

Next year - by year end 2023

2024

2025

2026 or longer

Not sure

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* 7. Please rank the level of competition, with "1" being the most competitive. Skip if not applicable.

Other community banks and credit unions

Regional banks and credit unions

National banks and credit unions

Fintechs/Neobanks

Non-bank brands (Amazon, Walmart, etc.)

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* 8. Next year, what are you predicting for year-over-year loan growth?

Lower by 6+%

Lower by 5% to 1%

Largely the same

Higher by 1% to 5%

Higher than 6+%

Not sure

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* 9. Next year, where do you expect your operating budgeted expenses compared to this year?

Lower by 6+%

Lower by 5% to 1%

Largely the same

Higher by 1% to 5%

Higher by 6+%

Not sure

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* 10. For 2023, what areas do you anticipate receiving more or less funding compared to 2022?

	Less Funding	About the Same	More Funding	Not sure
Technology - Cybersecurity	Technology - Cybersecurity Less Funding	Technology - Cybersecurity About the Same	Technology - Cybersecurity More Funding	Technology - Cybersecurity Not sure
Technology - non cybersecurity / non-customer facing	Technology - non cybersecurity / non-customer facing Less Funding	Technology - non cybersecurity / non-customer facing About the Same	Technology - non cybersecurity / non-customer facing More Funding	Technology - non cybersecurity / non-customer facing Not sure
Technology - Customer-facing	Technology - Customer-facing Less Funding	Technology - Customer-facing About the Same	Technology - Customer-facing More Funding	Technology - Customer-facing Not sure
Technology - Experimentation / Emerging technology	Technology - Experimentation / Emerging technology Less Funding	Technology - Experimentation / Emerging technology About the Same	Technology - Experimentation / Emerging technology More Funding	Technology - Experimentation / Emerging technology Not sure
Sales (hire more lenders, increase sales tools, etc.)	Sales (hire more lenders, increase sales tools, etc.) Less Funding	Sales (hire more lenders, increase sales tools, etc.) About the Same	Sales (hire more lenders, increase sales tools, etc.) More Funding	Sales (hire more lenders, increase sales tools, etc.) Not sure
Marketing	Marketing Less Funding	Marketing About the Same	Marketing More Funding	Marketing Not sure
Credit expense / loss allocation	Credit expense / loss allocation Less Funding	Credit expense / loss allocation About the Same	Credit expense / loss allocation More Funding	Credit expense / loss allocation Not sure
Branch Network	Branch Network Less Funding	Branch Network About the Same	Branch Network More Funding	Branch Network Not sure
Payments	Payments Less Funding	Payments About the Same	Payments More Funding	Payments Not sure
Operations	Operations Less Funding	Operations About the Same	Operations More Funding	Operations Not sure

Question Title

* 11. What changes will you be making to your branch network over the next 24 months?

Increase branch network

Decrease branch network

No planned changes to our branch network

Not sure / not applicable

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* 12. Which of the following positions do you believe the most about credit for next year?

We will be more aggressive on credit

We will have the same credit appetite as this year

We will be less aggressive on credit

Not sure / Not applicable

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* 13. What are your top 5 most important critical issues that you are facing?

Innovation

Driving deposit growth

Regulatory burden

Internal resistance to change

Shift from physical to digital delivery of products

Managing interest rate risk

Improving operational efficiencies

Driving loan growth

Ability to attract talent

Lack of competitive differentiation / relevance to customer base

Fraud and cybersecurity

Maintaining credit quality

Other (please specify)

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* 14. What percentage of your workforce currently operates remotely, either part or full-time?

0% - 25%

26% - 50%

51% - 75%

76%+

Unknown

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* 15. Which statement best summarizes your readiness for the future or banking?

We are doing well and well-suited for the future.

We are behind and need new strategies, lines of business and methods to compete effectively.

A significant transformation of our business model will be required.

Unknown

Future Forces in Banking 2022

Welcome!

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* 1. Your type of financial institution?

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* 2. Your asset size?

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* 3. Your position?

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* 4. Your email address? (exclusively for sending survey results/report)

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* 5. The Fed Funds rate is expected to peak at 4.75% - 5.00% in early 2023. Do you think:

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* 6. When do you expect the next recession to begin in the US?

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* 7. Please rank the level of competition, with "1" being the most competitive. Skip if not applicable.

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* 8. Next year, what are you predicting for year-over-year loan growth?

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* 9. Next year, where do you expect your operating budgeted expenses compared to this year?

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* 10. For 2023, what areas do you anticipate receiving more or less funding compared to 2022?

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* 11. What changes will you be making to your branch network over the next 24 months?

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* 12. Which of the following positions do you believe the most about credit for next year?

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* 13. What are your top 5 most important critical issues that you are facing?

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* 14. What percentage of your workforce currently operates remotely, either part or full-time?

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* 15. Which statement best summarizes your readiness for the future or banking?

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* 16. What do you see ahead for banking's future?