It's not as hard as you think!

‍For a small business, the very idea of switching banks can sound ominous. What business owner, in his or her right mind, would choose to interrupt the flow of payroll, accounts receivables, bill payments and associated financial services, particularly when they’re not shopping for a new banker? This was business owner Matt Sotile’s thinking when he was invited to a chat with BSF Baton Rouge Market Executive Vice President Douglas Dupont and Vice President Whitney Boyd. The bankers believed they could deliver more personalized service to Sotile, founder of the specialty contracting firm, TSC of Louisiana, one of the top contractors of its kind in the region.

“I was resistant at first,” Matt recalls. His business partner, Wade Thibodaux, had introduced the idea, but Matt had his doubts. “I was very hesitant. It’s a pain to move that much money in the middle of doing business, when you’re cutting a lot of checks and making a lot of deposits.”

But two things tipped the scales in Bank of St.Francisville’s favor.

The first was a line of credit that TSC kept open but wasn’t using. Matt told Douglas and Whitney that he was still being charged a significant annual fee to keep it active. Douglas offered an option with a one-time fee and a much more reasonable renewal rate.  

“My other bank was charging me a lot of money every year to keep it open,” Matt said. “Bank of St. Francisville didn’t do that.”

Matt’s other chief concern was how to navigate the logistics of transferring his accounts, since TSC’s 12 full-time employees and close to 100 subcontractors made reliable access to cash and frictionless bill payment absolutely essential. Whitney smoothed the way by creating an interim system by which she and her team ensured all bills and payroll were paid seamlessly and all deposits made on time throughout the process.

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“We regard every client basically as a private client” —Whitney Boyd

“This is where we feel like we really excel: in hands-on, concierge-style banking that addresses a business’s specific needs,” Whitney said. “We regard every client basically as a private client.”

BSF also equipped TSC with a Remote Deposit Capture check scanner, a time-saving measure enabling the business to deposit checks right from their office computers. It’s one of the tools that enables TSC to conduct all of its day-to-day banking activity online without ever needing to leave their offices.

“I’ve never even been in the Baton Rouge branch,” Matt says.

Of course, that doesn’t mean the bank isn’t in constant communication with Matt and his team.

“That’s essential to us, that we’re reachable at all times, even on weekends,” Whitney says. “When we hear about an issue from our clients, we try to respond immediately.”

Matt says that BSF has also notified him when his interest-bearing accounts are eligible for more favorable rates, something he hadn’t experienced from his previous bank.

“I don’t have to ask for it with Bank of St. Francisville,” Matt says. “They knew what was best for us.”

While it once seemed like a tedious proposition, changing banks has been the right move for Matt and his team.

“I’m very happy with the switch,” Matt says. “I’m busy doing business, so I appreciate the way Bank of St. Francisville looks after me.”

To learn how Bank of St. Francisville can bring full-service, concierge banking within reach for your business, click HERE to connect.

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