They do not need to chase the small deposit clients. Their biggest challenge is to put their capital to work in assets that are productive and safe. This is not a retail execution play. They are lenders first and formost.
Exactly. Deposits are not important right now. Obviously, a lot of people took money out of deposits and bought stock. BRKL no longer has to woo these customers. Long term, it's probably not a great strategy. When the equity markets become more attractive a lot of money will leave CDs and regular deposits will become more important.
Does anyone have any inside information about progress at BRKL? As of October they had done virtually nothing. It's a long time between those quarterly updates.