Episode 69: Thomas Inserra

Intro:  I've had the privilege of being in and around banking for more than 50 years. Lots of changes during that time. We've gone from Ledger's to laptops, typewriters to technology. One thing, however, remains the same. Banking is a people business. And I'll be talking with those people that make banking great here on Jack Rants With Modern bankers. 

Welcome to Jack Rants With Modern Bankers brought to you by RelPro, and Vertical IQ. Each week I feature top voices in financial services from bankers and consultants, to best selling authors and many more. The goal of this program is simple, to provide insights, success practices and to bring new ideas to the table that you can use to maximize your results.

I met my guest today, Thomas Inserra, at ABA's Stonier Graduate School of Banking in 2015. I was reintroduced to Thomas when I received invitations to invest in his new bank in Phoenix called Integro bank. And that's the subject of today's program. Now, when we ponder whether community banks can survive, look no further than Integro. It's not surviving. It's thriving. In this program, you'll learn about several amazing ways Integro Bank is serving small businesses with unique and powerful solutions that few others are delivering. Thomas Inserra earned a b's in science from Purdue University and an MBA from the University of Phoenix.  Thomas has had a great career in banking at the FDIC, and he's launched five startups, too, in the tech space. Want to learn more about innovation in banking? Check out this amazing interview with Thomas Inserra on Jack Rants with Modern Bankers. Here we go. 

So, as I mentioned in the introduction, Thomas Inserra really, took a leap of faith, 18 months ago, a couple of years ago, many perhaps other than two years ago, maybe longer and started a bank and, as you know, as listeners, we've had Lauren Sparks on from agility bank down in Houston, who was a consultant before she jumped into CEO ranks. And, Wow, what a, what a challenge. Thomas, great to have you with us today. Thanks so much for being here.

Thomas Inserra: Thank you, Jack, for having me.

Jack Hubbard: Well, let's start at the beginning. You've had about 35 years in banking, in regulation. you were with accenture on an international basis. That's quite a career. Give us a little sense of your background in your career.

Thomas Inserra: Yes, I've worked at large, medium and small banks. But really, Jack, there's two unique aspects of my background that tend to be different from other bankers. Number, one, the USA federal government hired me in the last two recessions and I helped close and manage 780 failed banks. And so by doing that, you learn an awful lot about what can go wrong in banking. And that really motivated me when I decided to launch a bank that between myself and four other individuals on the board, we have five regulators. We wanted to build a long term sustainable bank, not, repeat, the performance that caused banks to fail. The other interesting aspect of my background, Jack, is this is my fifth consecutive technology based startup company. 

So I have a proven track record of success in the banking industry, of helping to invent new technologies, and bringing them to market. And in the early years, I noticed that banks were not early adopters of technology. They resisted technology. So I would always leave banking, invent something new and then make that available to banks. And then that helped me fuel really rapid revenue growth at a number of companies. And finally I said, you know, I think there's a need in the market to help small businesses. What can we do differently in the way of inventing something new? And that's what caused us, during COVID to say, hey, let's try to help small businesses. 

When we were seeing how they were affected by COVID, and what motivated me to do that was my upbringing. I was the first person in my family to ever get the opportunity to attend college. And I didn't have the money from my parents, so I had three jobs at a young age. I delivered newspapers at age nine, I flipped hamburgers at 16, and then I got into Purdue University. But I ran out of money and I had to find a job. And just by chance, while I was in school, I approached a small businessman who had just left his job in banking. He was the chief credit officer of a bank. He launched his own small business and he hired me at dollar five an hour full time. But he was flexible on the timing of the hours. 

So I worked full time and went to school full time. But our customers were banks. So he was a lender. He helped package up loan applications. He eventually got into the appraisal business. And so I learned all about lending and credit and appraisals and the paperwork that banks needed to process to close loans. So by the time I graduated college, I had three and a half years full time of experience, essentially in banking and lending transactions. So those are my unique background is technology, and a regulatory background which has really kind of served me well in launching a new bank.

Jack Hubbard: Well, when you do launch a new bank, you have to be what you are, which is a banker preneur. You have a small business and you're grown it. So you raise $5 million in capital, in 2022 and probably started long before, you saw all these banks that failed. Why? Thomas, you could have done anything you wanted, but you started a bank. I'm curious what was going on in your mind to say, yeah, lets do a bank.

Thomas Inserra: Well, actually we raised 32 million and we did that during COVID More than 19 90% of the capital that we raised was over the Internet. We used LinkedIn extensively. But the motivator for me was reflecting on my long history in and around banking and when I saw how small businesses were mistreated during COVID here in Arizona. Before COVID we were the number one small business growth market in the United States. But after COVID, when I looked at the aid that was being distributed from the government through the banks, we ranked near last in the country in the amount of aid that was distributed to small businesses. That bothered me. And I saw a disproportionately high number of small businesses in Arizona close and I wanted to understand it. And I found a couple data points that really resonated with me and alarmed me. 

Number one, in the state of Arizona, we rank last of all 50 states in the rate of loan approval of loans for small businesses. So if you're a small business and you're trying to get a loan, you have a harder time here than any state in the country. And number two, and a big part of number one is that we have the fewest number of bank charters in the United States. In the entire state today, there's a pending sale that's taking place. We'll be down to eleven bank charters, and that's with our bank charter. So, small businesses are historically served by the smaller banks. This market is dominated by the top ten largest banks and those top ten large banks. Since I've worked at a top ten bank, they'll tell their employees that their more profitable relationships are Fortune $500,000,000,000 companies, and it's much harder for them to have profitable relationships with small businesses. 

So they're just not as aggressive in helping small businesses. So I became convinced that a part of the solution that needed to occur was to help small businesses. And why that was important to me was I realized in my own life that it was those jobs at the small business when I was young that helped fund my college education. That's what lifted me up out of poverty was the jobs at small businesses. And so I kept having visions of these small businesses that were closing, and they were going to miss out on the same opportunity that I had. And I wanted to help small businesses. So when I started talking to colleagues, I had to form a board, I had to form an executive team, I had to attract investors. And I always started the conversation with, somebody needs to step up and help small business. 

This is why that mission resonates with me. Does it resonate with you? And can you believe that? Something like 70% of my investors also delivered newspapers as a child, so they resonated with that work ethic of working at a young age. working yourself up out of poverty seemed to really resonate. And what we sold as a value proposition to small businesses in Arizona is we said, our surveys indicate 85% of you are not happy with your bank. Why not own your own bank? And so we made the minimum investment as small as $20, $5,000, and they could co own their own bank. Well, before we knew it, we attracted 230 shareholders, primarily small businesses in Arizona who essentially co owned the bank. And that's how we got in record time. We got $32 million in capital.

Jack Hubbard: That's a great story. Here'S your challenge. You've been around the block. You've been at big banks. You've been a regulator. You met tons of people in your career. You're a networker, and now you want to start a bank. You mentioned that you've got several people on your board that are regulators. How did you decide, how did you say, this has got to be my original team. How did you decide on that nucleus of Integro Bank?

Thomas Inserra: Well, Jack, you mentioned earlier that I worked with Accenture, and I did, in the country of Singapore. So I worked overseas, internationally. And what I learned in that experience was the importance of diversity. I had coworkers from 80 different countries, and I learned how arrogant we, as Americans, can be. And we always think that we always know the best, and we're the smartest. But I learned that, people with different backgrounds, from different cultures and different countries, that there's some pretty darn smart people out there that are not Americans. So I knew that I wanted to have a very diverse board, and I wanted to have a diverse management team. So I relied extensively on LinkedIn to identify businesses that could become shareholders. 

So 100% of our shareholders, in some way, I either knew or came to us from LinkedIn. Then I started to target a diverse board, but I wanted to have various skills represented. So at several checkpoints, as we were building the board, we did a self assessment of the skills and the experiences that we had on the board. And I took, I interviewed five de novo bank CEO's, who gave me all kinds of advice on forming boards and launching banks. And I actually purposely chose to ignore some of the advice I got. The wisdom at the time was, and continues to be, that you need to have a small board because it's easier to manage and it's more effective. 

My theory is, that's not true for de novos. There's so much work that needs to be done. There's policies, there's procedures, there's recruiting, there's capital, there's loans, there's deposits. So I thought there would be an advantage in having a large, diverse board. And so even though the advice I got was to keep the board to between five and seven, when we submitted our plan to regulators, I actually surveyed and found out that the largest bank that I could find, I think, had 17 board members, which I thought was a little excessive, but we wanted to have no more than 14 or 15, and we ended up with 14. And people even today tell us that it's too large. But when I think about the huge amount of work that you have to do to stand up a bank, this became a working board. And initially they had no salary, so they literally rolled up their sleeves.

They helped with policies, they helped with procedures, and were really big on governance. I'm convinced that the common theme of these bank failures was governance and risk management and having the right culture. And so we put a lot of thought into what committees we wanted to have. What would the structure of those committees be? How would we manage risk? Spent an awful lot of time on that. And how can we establish a culture that eliminates fear? Because it's people that raise their hand that say, hey, as employees, hey, wait a minute, something doesn't look right. And if they're in a high growth culture, they can easily get run over. And if they get run over enough, they stop raising their hand. And so the bank ends up inheriting risks that they don't even know that they have. So we want a culture where people aren't afraid to say, wait a minute, something doesn't look right here, and do we really want to do this? And so we've structured the bank in that way. So a lot of women and minorities on the board as well as the management team.

Jack Hubbard: That's great. And you mentioned culture, and I think one of the cultural things to think about is, what do you name the bank? You know, when I started in banking back in 1973, everybody was first national bank. and now the names are very different. Integral bank. Talk about the name and how you got there.

Thomas Inserra: Well, I think some of the large banks have kind of tarnished the image of banking. When you have bank scandals of fake bank accounts, and, all the banks that were sued, all the banks that were seized, it causes the public to lose confidence in banking. And so we want to restore that confidence. And so we believe that one of our foundational core values has to be integrity and has to be building trust. And so we thought about the word integrity, but then we thought about the mission of the bank, which was to help small businesses grow. So we added the word integrity and growth. We came up with the word Integro. And when I did a word search and confirmed that the domain was available, the name was available. That's how we came up with the name, Integro bank.

Jack Hubbard: That's a great story. That's outstanding. And so now you launch, and you really have the benefit. No bad loans, and you can really target, and your focus and your niche is small businesses under 100 people. So if I'm a small business and one of your bankers comes out to my shop and they want to do business with me, one of the things I might say is, well, okay, there's a lot of banks out there. What makes Integro different? What makes you so special? How would you want them to answer that question?

Thomas Inserra: that we've invented services that no other bank in the world has. and we'd be happy to tell you about those. And we call those services Integro 360. It's kind of a package of services. We've invented it. We have some technology to support it, but it's all designed to help those small businesses grow. And the reason is, a bank needs a purpose that's greater than just making profits or growing the bank. And our purpose is to grow small businesses. Because if we're successful as those small businesses hire people, that increased employment lifts people up, and it transforms lives. Just as I explained in my early career, the series of jobs that I had, a small business allowed me to fund that college education, and that transformed my life. So as we help these small businesses grow, we're all about helping to lift people up and transform lives. So we have a mission that's important.

Jack Hubbard: To us, and it's working. You mentioned some statistics before we started recording. Your growth is phenomenal. Talk about some of those statistics. And then I do want to get into Integro 360, but you're doing really well.

Thomas Inserra: What I noticed in my career, that deposits, historically, and even presently more so, have been very important with business customers. You tend to get a low cost source of deposits, and if you can have a low cost source of deposits, that can be a great contributor to your future profitability. And then also business loans can have higher yields. So you have two benefits. You get a lower cost of deposits and you have higher yields. And that's the ratings that you're talking about. Even though we've only been in existence for 18 months, we're now the number one rated bank of all the banks, based in Arizona. And we're number one, I'm sorry, number two nationally among banks, less than 100 million in key measures like loan growth, revenue growth, and loan yield. And so those tend to contribute to the profitability of a bank. And as a startup, the trick is to get to your break even point as quickly as possible so that you can stop eroding your capital loss by having yields and margins and a lower cost of deposits than our competitors. That's going to help us get to that breakeven point, more quickly. But to achieve that, ah, so early in our growth cycle, is a pleasant surprise. We wanted to achieve that eventually, but to do it in the first 18 months, we're pretty excited about that.

Jack Hubbard: It's unbelievable. We hear a lot about innovation in banks, and a lot of bankers will say, well, wait a second, we're still very highly regulated. That's a risky business. We have to be really careful. You are an innovative bank. You've developed a very proprietary program, and I've seen a little bit of it on your website. It's called Integro 360. It's absolutely amazing. From what I understand and read, it's an eight step process. Talk about getting some of the weeds of Integro 360. It's amazing.

Thomas Inserra: Well, remember, the mission is to help them grow. So we invented services that we provide for free to help businesses grow, and it's a suite of services. And that we also, engage our prospects and clients in some very thought provoking questions that most bankers typically don't get into. And some of these questions are, what is the value of your company today? What is the exit strategy? Do you want to retire? Do you want to sell your business? What are the levers that you can pull to increase your profitability and your value between now and then? A lot of small business owners don't have the answers to those questions, but these tools will help provide those answers. So, as an example, we provide an unlimited number of complimentary business valuations. They can spend thousands of dollars and obtain professional valuations, or they can obtain these complimentary valuations through the Integra 360 service. 

We've invented a dashboard. So this is where the technology comes into play and the dashboard is unique to each business. And when a business owner logs in with a secure password to their own dashboard, the first thing that they notice is what we call peer data. Now, we, as banks, have access to peer data, so we know how we're performing relative to our peers. But most small business owners do not have access to peer data. But when the business owners see their peer data, they can compare their performance in several financial measures with their peers. And what they love about this data is they can instantly see where their company is strong and where they're weak. And it helps them start to formulate a game plan of how and what they need to do to change to get better. 

So that ties into the growth strategy for them and for us. so after they get through the peer data, they can see their business valuation, which is on their dashboard. And then we have invented something that's rather unique on their dashboard. We've isolated the six key variables that have the greatest impact on that company's cash flow, profits and value creation. And it shows on their dashboard how those key variables are performing today. And then it allows the business owner to theorize if they make a change to their business and answer the question, how will that change affect their cash flow, their profit and their value? And so we've created a forecasting tool that answers that question. Here are changes that you can make to your business, and if you were to implement that change, this is the likely impact on your cash flow, your profit and your value creation. 

So it becomes an interactive, real time tool to help them better manage their company to achieve higher levels of growth, but in a profitable manner that their cash flow supports. And so the business owners love these tools. So it's our differentiator. It's our way of equipping them with information and data that they need to become more effective leaders. And then we complement this service with something else that we launched that we call the Integro CEO Club. And we have monthly events where we bring in a prominent speaker that speaks on topics that will help business owners increase the growth rate of their business. And so we have anywhere from 35 to 100 business owners that show up at these events. And of course, they then become prospects and clients and future clients. And once, they are converted into a client and they start making use of these tools, they become excited clients who then refer in more clients. So that's what's working for us. That's what's helping us achieve these growth rates.

Jack Hubbard: So it begs the question, how does one get integral 360? What's the criteria?

Thomas Inserra: Well, we've divided it into three stages. in stage one, we call it Integra 360 light. And this is usually a prospect. We haven't fully established trust yet. Maybe they haven't given us their financials yet, but we need four pieces of information we need to know. Well, in addition to their contact information, we need to know their zip code, the industry that they're in, and the approximate annual sales of their company. And over the next five years, what is their projected growth rate average for the next five years? If we have those four data points, we've invented a way to give them a business valuation of an average size company in that area and in that industry. 

So it's kind of a ballpark valuation of a midsize company. Remember, we don't have their financials yet, we don't have the detailed information from them, but this is the way to get them interested in the Integra 360 program. And when they see the peer data and the valuation that comes out, they say, wow, this could be pretty powerful in helping me better run my company. So then we say, well, if you want to get access to the full program, we need you to become a deposit customer. And that's what helps give us the low cost source of deposits. And then once they establish that deposit relationship, as long as they open it and maintain that deposit relationship, then they can continue to get access to this tool for free, as long as they stay as a customer. So our hope is that it remains sticky. They're going to want to continue to access this program as they grow their company over time.

Jack Hubbard: And you want to grow your company over time. So how do you make Integro and Integro 360 scalable going forward?

Thomas Inserra: Well, it's no secret that in banking you have these cycles, right? Banks grow, grow, grow, grow, and then there's a recession or a cycle, and then that leads to incredible loan losses. And if you have loan losses that are high enough, it can put you out of business. But what we love about this program is not only does it prove successful from the viewpoint of the business owner in giving them the data that they need to grow, it works best if they give us their monthly financials, their actual financials, and every month the owners get very competitive. They want to see, for example, if they grew 1% last month, and they do that every month and they grow 12% per year, they might think that that's a home run unless they found out that all their competitors are growing 30 or 40%. 

So the peer data gives them the context of how they're doing relative to their peers. So for us, as a bank, an unexpected benefit of these business owners participating in Integra 360 is that we get to see and have access to their financials every month, every quarter, every year. So it gives us an early warning indicator. So at, ah, most banks, you might collect financial information through taxes, returns, once a year. Well, if you get the tax returns at the end of the year and you see that they had a steep loss, it's almost too late to do anything other than maybe exit that relationship. But if you're watching the performance of a company monthly and quarterly, you get the benefit of having these early warning indicators. And so we know through our development cycle of testing this and launching that over a several year period, that it's not only helpful in having businesses grow, it's helpful to the bank in improving credit and avoiding loss. Because when we see that there's stress or that the company is underperforming, we can ask them to submit a corrective action plan for how they're going to fix that. And often they weren't even aware that they had a problem, but now they have an early warning indicator. So one of the benefits of this Integra 360 is it helps us grow a reliably performing book of loan business that every bank needs, and yet achieve the low cost of deposits by attracting more business deposit accounts.

Jack Hubbard: And I got to believe there's a challenge here. So we've all, as bankers, looked at spreads, looked at financial statements, made loans, we have all, as bankers, opened deposit accounts. Now, no one would say those are easy, but, now you've added technology into the mix. I'm curious how when you go look for a banker to hire, how much savviness do they have to have? Because this is a next level talking to your customers. Yeah.

Thomas Inserra: So, Jack, we first deployed something like this at my last bank, and it was hugely successful. And we learned through trial and error that we had to turn over our entire sales team 300% before we found what's the right type of banker. And here's why. If you really think about it, most banks, how bankers are trained. They're trained to sell products, so they educate themselves on their products and their product sales. And we are purposely not pushing products, and we're not a product bank. If you go to our website, it's hard to even see that we offer loans and deposits because those are products. We talk about the value add that we can provide with Integra 360 and things like that. 

So we look for bankers that are more like consultants, and we have to teach them a different way of banking. We have to teach them things like, what are the value creators at businesses? How do you grow a business in a way that's profitable, that increases its value, and that's a different kind of a banker. And we've had the same turnover. It's hard to find those bankers, because on the one hand, you want people that are experienced in banking, but you want them to adapt to this new way of not selling products. We don't want to push our preconfigured products on customers that may not even need or want them. It's more of a custom. How do we learn about this business? Learn about the things that are going to help that particular business grow and give them the data and the tools and the information. 

So now you're a trusted advisor and a consultant. So we train our bankers on how to build trust, how to collect the right information, how to focus on the things that are going to lead to a successful, growing business. And some of the bankers have made that transition successfully, and some have not. So we have had some turnover, higher, levels of turnover than most banks, perhaps. But we're trying to find that banker that can be more than just pushing products, somebody that can be kind of a consultant or an advisor to these businesses.

Jack Hubbard: This is so interesting. And you're busy, so I'll let you go and have a couple of questions as you're talking. I'm thinking about two constituents, one outside, one inside. If I'm a COI, if I'm a referral source for you, if I'm a CPA, I got to love you as a bank, because now you're really part of my team. and you're helping me help my client differently than any other banker has. How have referral sources, cpas, and how they reacted to Integro 360?

Thomas Inserra: Well, you hit it right on the head. So we actually started tracking this recently. Let's start broad and then get specifics. So, 100% of my board has a deposit account at the bank. 100% of my employees have a deposit. Not many banks can say that they have a deposit account at the bank. Now we're focused on our centers of influence. Every vendor that we work with, when they hear the story, they get so excited, they open up a deposit account because they want to access these tools. And like you said, a lot of them want to introduce these tools to their clients and their associates. 

So we're in the early stages of that. but a lot of these centers of influence get excited when they hear about these tools. You're right. And they, in effect, help sell the bank for us, or at least get us introductions to the right people. So having something different that other banks don't have and, having that competitive differentiator, it's been working for us. and, it's fun to watch the reaction of people when they learn about it and they get excited. And when you have even vendors and even these influencers opening accounts and making introductions, it's wonderful.

Jack Hubbard: Yeah, that's pretty cool. And another constituency that's so important to banks these days is treasury management. A lot of treasury management people, they'll come in on the back end because a commercial banker will say, hey, come on in and talk to my customer. they'll throw them a bunch of statements and say, here, analyze these and tell me what the client needs. Or the client might say that, but you have a very unique advantage, because you have more information than almost any other bank. How have you interwoven treasury management into this, and how have you hired treasury management specific people to deliver on this product?

Thomas Inserra: Well, the very first person I hired at the bank was an expert in treasury management, who also was an innovator, was inventing new things and had a very strong technology background. So we do have a formal treasury management department, and most new de novos do not. Most small banks do not. So that has really helped. The challenge has been recruiting people into that group, because in our market, the small banks don't have treasury management. So there's no pool of trained people from small banks. And so it's really only the large banks and the salaries that these large banks are paying their treasury management makes it unaffordable, affordable. So it has been a challenge to try to recruit people that, on the one hand, have some treasury management experience, but then can adapt and learn about what's unique about us, but we've been making it work. We have a good treasury management team. and we're happy that it's something that we do offer. Yes.

Jack Hubbard: Yeah. You have to go to northern Minnesota in January or February and find community bankers that are treasury management people that want to live where you live. I guess. I'll bet you've done that.

Thomas Inserra: We have relocated some people to Arizona. and on that topic, remote workers do not work, in this model, because the customers like the interaction we did try during COVID the remote worker thing, and it just did not work for us. So now we're big believers that they either have to be physically here or relocate here and be part of the team, because it's a very collaborative team. So we have a very engaged workforce. We love the culture. They love the culture. When we survey the workforce, they're excited to be here.

Jack Hubbard: Well, I want to let you go, but you prompted a question from me. You've been in business 18 months. You're an entrepreneur. You've got to have in your head, where are we going from here? So, to the extent that you can tell me what's next for Integra.

Thomas Inserra: Well, Jack, to help answer that question, I'll draw upon my experience. I took a really interesting class through the ABA, the stonier graduate school of banking, and it's held at Wharton, and it's a three year program. And the most fascinating class there, they brought in an investment banker. His whole career was buying and selling banks for himself and for others. And he actually brought in the CEO of a new bank that they had just launched. And, my takeaway was there are certain value creators at banks, and there were three key ones that I learned. If you look at the top performing banks that tend to generate the best returns for shareholders, they had three things in common. They were publicly traded. They had a differentiator or a niche that they did better than their competitors. 

And then those things combined allowed them to deliver organic growth above peers. But because they were publicly traded and their stock had a premium, they were able to use their stock to complement their organic growth with m and a growth. So that's our future. Launched this bank intentionally thinking that we would become publicly traded. So we have extraordinary. We're only 18 months old, Jack, and we've already had ten exams and audits, because we're making sure that we're so overly audited that we're paving the way to have a smooth public offering in the future. and then once we have that public offering, we think that our yields and our margins will be above market. That'll allow us to raise money at premiums. It allows them to deliver above average returns at some point, and that'll lead to creation of shareholder value. And then if we can do all of that at some point, acquiring businesses, on top of that organic growth. And the differentiator you heard about was Integra 360. So it was learning from that class. And I would encourage the audience, if you have an opportunity and if you haven't, that Aba Stonier graduate school of banking is a great program. but that taught me about value creation at banks. So that's what we're focused on here, is creating value for our shareholders as well.

Jack Hubbard: And by the way, that's where Thomas and I met when I was an instructor at Stonier. so, Thomas, you have a great story. I'm sure people will want to learn more. How can someone get a hold of you if they want to touch base?

Thomas Inserra: Well, the email is pretty easy to remember. I hate having to constantly respell my name, so I took my name out of it. It's just Ceoingtegro, a bank. That's the best way. I'm also a big LinkedIn user. Let's connect on LinkedIn and let's exchange information there. And who knows? I'm happy to help other banks. A lot of other banks have been helping us, and so I like to do the same.

Jack Hubbard: Well, Thomas, thanks so much for your time today. You do have a great LinkedIn page, you have a wonderful website, you're bigger than you think. and you've done some great things already. Thanks so much, Thomas, for this time today.

Thomas Inserra: Thank you, Jack. I really enjoyed it. Appreciate it.

Jack Hubbard: Thanks for listening to this episode of Jack Rants with Modern Bankers with my great guest, Thomas Inserra. How is your bank using chatGPT ? For some practical ideas on that and how one community bank has embraced AI, join me next week for my interview with Ben Udell, senior vice president of digital innovation at Lake Ridge bank in Wisconsin. 

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