We found a match
Your institution may have access to this item. Find your institution then sign in to continue.
- Title
Bank Failures Generate PR Headaches.
- Authors
Baxter, Richard L.
- Abstract
When two banks in Knoxville, Tennessee, failed within a four-month period in 1983, consumers in that community could not have been blamed if they were recounting the routine as they observed developments in the local banking industry. Knoxville began 1983 with seven banks, but by the time the dust had cleared in June, only five banks remained. If those banks' shareholders approve a proposed merger of two of the remaining banks, four banks will be operating. Given the consumer uncertainty precipitated by the third and fourth largest bank failures in the United States since the depression, a look at the public relations problems faced by the solvent banks provides an insight as to how these problems were handled. There is some disagreement as to just how much consumer confidence was affected by the bank failures. Few of the bank executives would admit that they had any fear of a ripple effect. They all would agree however, that the remaining banks will not take customers for granted, and that the city is entering an unprecedented period of competition among the survivors.
- Subjects
UNITED States; TENNESSEE; KNOXVILLE (Tenn.); BANK failure laws; BANKING industry; BUSINESS failures; PUBLIC relations in the banking industry; CONSUMERS; UNITED American Bank (Company); BANK management; VALLEY Fidelity Bank (Company); SAVINGS bank failures
- Publication
Public Relations Quarterly, 1984, Vol 29, Issue 1, p21
- ISSN
0033-3700
- Publication type
Article