First Bank Swot Analysis

Strengths I have ranked the bank’s top 6 strengths as follows: 1.) Culture, 2.) Brand recognition, 3.) Trademarked checking product, 4.) Independent decision-making, 5.) Local authority, and 6.) Community involvement. FirstBank’s culture is second to none. The bank prides itself for having an entrepreneurial spirit that is instilled into every employee. The bank goes out of its way to make sure that each employee has a working environment that is light hearted and fun. Each Halloween, the bank picks a theme and each employee dresses up in costumes for the entire day. Every year, the bank sponsors an employee golf tournament for a chance to take home “The Green Cup.” As the bank grows and expands into newer markets, the unique culture must continue to live in the new employees that are hired. Another key strength is the bank’s brand recognition. FirstBank’s motto is Unexpected, Unsurpassed, Every Time. The moto is supported by 5 service norms adopted by the bank which are Seek to Serve, Do It Right, Stay in Touch, Keep the Code and Own it. FirstBank has gone out of its way to make sure that when you see its logo, you think of FirstBank & Trust and top notch service. In 2012, FirstBank …show more content…
The four main regions are Lubbock County, Lynn County, Scurry County and Mitchell County. Each region has its own chairman and each branch within the region has its own President. Decisions are made within each market without consultation from the other regions. This means that the officers that know the customer’s background and know the current market are deciding on the outcome. This enables decisions to be made quickly and without having to ‘jump through a lot of hoops.’ With the growth that FirstBank has experienced over the past few years, this methodology has been very efficient and the time that the customer waits on the decision making process is