Friend Bank: The Time for Hope
Posted: 2 Feb 2012
Date Written: May 25, 2010
In 2010, Friend Bank was entering the fifth year of Hope Harris Johnson's ambitious 20-year growth plan to transform her family's one branch community bank into an institution with a substantial presence in southeastern Alabama. Harris Johnson was pleased, so far, with the results. Strategically they had exceeded expectations in opening a second office and execution of the plan was going well. And while the financial and economic crisis that began in 2008 had affected the financial results, it also presented Friend with competitive opportunities. Nonetheless, realizing her ultimate goals for Friend would not come easily.
Learning Objective: Evaluate the strategic, operational and cultural challenges that result from an ambitious long term growth plan.
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