The largest online network of verified U.S. bank CBANC and credit union professionals have released their Peer Group Analysis tool.
CBANC, the largest online network of verified U.S. bank and credit union professionals, today announced Peer Group Analysis, a web-based application that enables banks to quickly evaluate Uniform Bank Performance Report (UBPR) data from multiple financial institutions. The tool is designed to help community banks save time analyzing the data, which is released regularly by the Federal Financial Institutions Examination Council (FFIEC).
“While the data released by the FFIEC is easily accessible, CEOs often have to manually enter the data into a spreadsheet in order to properly analyze it,” said Bryan Koontz, Chief Executive Officer at CBANC. “Or worse, they’re paying fees to companies for a prepared report—they’re paying for free data. With the Peer Group Analysis tool, banks can quickly build their own custom peer groups with a few clicks, and immediately view performance across several categories. We’re helping them get their jobs done faster and keeping free data free.”
Banks can compare financial institutions within seconds, download their custom peer group data as a .csv, and share the information with their teams via an auto-generated link. They can also select multiple reporting periods to view data trends over time.
“CBANC’s new Peer Analysis tool makes sorting and analyzing UBPR data a much easier process than it used to be,” said Cheryl Tanenbaum, Senior Vice President and Chief Financial Officer at Intracoastal Bank. “A typical day for me includes logging into CBANC to read discussions that are happening and search for documents, so it’s very convenient for our bank to access this tool, since it’s built right into the network.”
Peer Group Analysis is currently in beta and is available today. More information can be found at http://www.cbancnetwork.com/peer-group-analysis .