It took a major recession for Shore Bancshares, the parent company of CNB, Talbot Bank, Avon Dixon Insurance and several other agencies on the Shore, to finally promote itself as one large financial service organization. For more than hundred years, the corporate marketing decision was to have subsidiaries fly their own separate, exceptionally strong, brand flags rather than tout the $1 billion collective.
But, as Bancshares CEO Scott Beatty shares with the Spy, the need to educate its customer base about the fully integrated financial services and one-stop shopping was an essential strategy to attempt to level the playing field with much larger regional and national competitors. While each part of the company will continue with their own special brands, the parent is finally getting some attention.
In a candid interview, Easton native Beatty talks about the recession’s impact, Maryland’s reputation of being unfriendly to commerce, changing culture, and the importance of being local in an increasingly global financial services market.
The video is approximately six minutes in length
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