Business Line Results
Commercial
Despite challenges such as higher interest rates, a global economic slowdown, and an increased need for risk and liquidity management, 2024 was another strong year for our Commercial division. Treasury Management experienced record growth, driven by their ability to integrate technology and service, a key differentiator for Bankers Trust. The team’s product offerings, responsiveness to clients’ needs, and relationship-based approach led to nearly 200 new customers and a 14% increase in commercial deposits.
While safety and soundness remain a top priority, the Treasury Management team is also committed to providing innovative products as customers reimagine their backrooms. Our measured process for bringing on new technology ensures we fully understand needs in the market and create products that support them. This allows us to walk hand-in-hand with customers, customizing solutions that support growth and changes within each business. As a result, customers have shown their confidence in Bankers Trust Treasury Management with nearly 100% client retention in 2024.
The Commercial Lending team continued making a difference for customers as they pursued growth despite a tough rate environment. Our team members provided creative solutions and financing to support business clients, resulting in net loan growth of $573 million and total loan production of $1.2 billion. This steady growth, along with our sensible lending practice and diligence in maintaining strong credit quality, helped us close the year with a total Commercial loan portfolio of nearly $5 billion.
Consumer
In 2024, Bankers Trust made a difference for nearly 41,000 Consumer customers by providing exceptional service personalized for their unique needs.
This level of service continues to defy industry trends around customer satisfaction, with Bankers Trust’s Net Promoter Score (NPS), which measures enthusiasm for recommending a company to friends and family members, rising to 77 while the banking industry average held at 30. Our long-term, relationship-based approach helped Retail and Private Banking accounts grow to nearly 70,000, with deposits ending the year at $1.9 billion.
While consumer lending increased to a record high, which helped us continue diversifying our loan portfolio, high interest rates and low inventory contributed to lower mortgage volumes in 2024. However, the team’s focus on community lending resulted in a significant increase in CRA loans for buyers with low and moderate incomes in all markets.
Seeing an opportunity to engage a younger demographic, we kicked off research to identify insights to help us attract and retain the next generation of customers. These results will help shape how we enhance our offerings to best support this customer group going forward.
Wealth Management
After years of meticulous investment in its service model, the Bankers Trust Wealth Management division saw its long-term vision come to life in 2024. The Wealth Management team delivered on its top priority of elevating the customer experience, delivering the high level of service, expertise, and advice that our clients have come to expect, all while making a difference in their lives and supporting their wealth goals.
As a result, every business line within the division — Private Client Services, Retirement Plan Services, Institutional Custody, and BTC Trust Company of South Dakota — experienced growth and surpassed its sales goals, adding $170 million in new assets. By year-end 2024, assets under administration reached $20.4 billion.
Our Smart Growth priority also remains top of mind for Wealth Management, with internal referrals playing a crucial role in expansion. This success stems from the strong partnerships team members have developed throughout the bank. The dedication to customer service, operational efficiency, and team culture enhancement has not only fueled growth but also led to strong performance in regulatory exams. Additionally, we were recognized as the sixth largest bank for wealth management fiduciary/custody asset size in the Chicago Federal Reserve District.
BTC Capital Management
An SEC Registered Investment Adviser Affiliate of Bankers Trust
For more than two decades, the team at BTC Capital Management has exceeded goals by putting clients first and managing the ups and downs of the markets with its steady, stable, and risk-based approach for investment management and advisory needs. This year was no different, as BTC Capital Management closed the year with $4.2 billion in assets under management for institutions, bank partners, and individuals served by Bankers Trust’s Wealth Management team.
Both equity markets and fixed income markets had a good year, delivering strong investment performance for clients. Regardless of performance, the BTC Capital Management team maintains its commitment to providing top-level client service, insight, and perspective while working closely with our Wealth Management teams to support clients’ wealth and investment goals. By consistently making a difference for clients, our differentiator of service excellence, along with our proven long-term approach rooted in fundamentals, once again resulted in 98% customer retention.
2024 Annual Report | Culture and Community | Financial Statements