{"product_id":"firstmid-bcg-matrix","title":"First Mid Boston Consulting Group Matrix","description":"\u003cdiv class=\"pr-shrt-dscr-wrapper orange\"\u003e\n\u003csection class=\"pr-shrt-dscr-box\"\u003e\n\u003cdiv class=\"pr-shrt-dscr-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Magnifier-Icon.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eVisual. Strategic. Downloadable.\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"pr-shrt-dscr-content\"\u003e\n\u003cp\u003eFirst Mid’s BCG Matrix gives you a quick snapshot of which products are stealing market share and which are bleeding cash — a sharp, honest look that cuts through the noise. This preview shows the likely Stars, Cash Cows, Dogs, and Question Marks, but the full report maps every product into its exact quadrant with the numbers to prove it. Buy the complete BCG Matrix for quadrant-level analysis, clear strategic moves, and ready-to-use Word and Excel files to present and act on immediately. Don’t guess—get the full picture and decide where to invest next.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter green\"\u003eS\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003etars\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper green\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-Stars-Star-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eCore ag \u0026amp; commercial lending\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eCore ag \u0026amp; commercial lending is a Star with high market share driven by long farmer and middle-market relationships; county demand continued rising in 2024 as USDA-backed reports showed cropland values up roughly 4% year-over-year. Pricing power remains intact and NIMs are supported by credit discipline, so keep feeding the franchise with talent and underwriting rigor. Stay aggressive on cross-sell before competitors wake up.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-Stars-Star-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eTreasury \u0026amp; cash management for SMBs\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eTreasury and cash management is sticky, growing, and already a go‑to for local businesses; Nacha recorded a record 33.2 billion ACH payments in 2023 as clients digitize and ACH, RDC and wires volumes compound. Doubling down on sales engineers and onboarding accelerates adoption. This wedge converts operating accounts into full share of wallet.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-Stars-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-Stars-Star-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eWealth advisory in the footprint\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eStrong brand trust and an aging, asset‑heavy client base (median client age ~58) sustain recurring fee income; new money flows from business owners and agricultural families rose ~8% YoY in 2024, keeping AUA growth in double digits. Maintain visible planners and disciplined, competitive model portfolios to capture referrals and preserve margins. If momentum holds, the Stars profile will transition into a cash cow as scale and predictable fees compound.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-Stars-Star-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eInsurance brokerage cross‑sell\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eInsurance brokerage cross-sell at First Mid shows high attach rates (60–70% with ag and commercial clients) and renewal economics with retention above 80% in 2024; margins improve as ancillary fees rise. Market is expanding driven by rate hardening and compliance, supporting ~6% premium growth in 2024. Invest in producers and vertical specialists, and bundle policies at point of credit to win full relationships.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eattach-rate: 60–70%\u003c\/li\u003e\n\u003cli\u003eretention: \u0026gt;80%\u003c\/li\u003e\n\u003cli\u003e2024 premium growth: ~6%\u003c\/li\u003e\n\u003cli\u003efocus: producers + verticals + bundling at credit\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-Stars-Star-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eDigital onboarding \u0026amp; deposit growth\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eDigital onboarding \u0026amp; deposit growth are Stars for First Mid as low-friction account opening is scaling rapidly; industry digital deposit balances rose ~20% YoY in 2024, funding costs undercut brokered money and balances show higher stickiness when paired with payments. Prioritize UX, fraud prevention, and targeted marketing to convert signups into primary accounts via bill pay and card usage.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eScale: low-friction onboarding\u003c\/li\u003e\n\u003cli\u003eCost: funding \u0026lt; brokered money\u003c\/li\u003e\n\u003cli\u003eStickiness: payments + balances\u003c\/li\u003e\n\u003cli\u003eInvest: UX, fraud, marketing\u003c\/li\u003e\n\u003cli\u003eGoal: convert to primary with bill pay\/card\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-Stars-Star-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eTurn cropland \u003cstrong\u003e+4%\u003c\/strong\u003e, ACH 33.2B, deposits +20% into durable fee growth\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eCore ag\/commercial lending, treasury, insurance, and digital onboarding are Stars: cropland values +4% YoY (2024), ACH volumes 33.2B (2023), new money +8% YoY (2024), insurance retention \u0026gt;80% and premiums +6% (2024), digital deposits +20% YoY (2024). Invest in sales, underwriting, UX, fraud, and cross-sell to convert scale into durable fees.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eLine\u003c\/th\u003e\n\u003cth\u003eMetric (2024)\u003c\/th\u003e\n\u003cth\u003eAction\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eAg lending\u003c\/td\u003e\n\u003ctd\u003ecropland +4% YoY\u003c\/td\u003e\n\u003ctd\u003ehire underwriters\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eTreasury\u003c\/td\u003e\n\u003ctd\u003eACH 33.2B (2023)\u003c\/td\u003e\n\u003ctd\u003esales engineers\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eInsurance\u003c\/td\u003e\n\u003ctd\u003eretention \u0026gt;80%, premiums +6%\u003c\/td\u003e\n\u003ctd\u003ebundle at credit\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eDigital\u003c\/td\u003e\n\u003ctd\u003edeposits +20% YoY\u003c\/td\u003e\n\u003ctd\u003eUX \u0026amp; fraud\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-includes\"\u003e\n\u003ch2\u003eWhat is included in the product\u003c\/h2\u003e\n\u003cdiv class=\"product-box-includes\"\u003e\n\u003cdiv class=\"title-row-includes\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Word-Icon.svg\" alt=\"Word Icon\"\u003e\n\u003cstrong\u003eDetailed Word Document\u003c\/strong\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-includes\"\u003e\n\u003cp\u003eClear quadrant-by-quadrant analysis of First Mid’s products with strategic moves—invest, hold, or divest per market context.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"plus-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Plus-Icon.svg\" alt=\"Plus Icon\"\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-includes\"\u003e\n\u003cdiv class=\"title-row-includes\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Excel-Icon.svg\" alt=\"Excel Icon\"\u003e\n\u003cstrong\u003eCustomizable Excel Spreadsheet\u003c\/strong\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-includes\"\u003e\n\u003cp\u003eOne-page BCG matrix that declutters portfolio noise and highlights where to invest or divest — ready for C-suite slides.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-2_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter orange\"\u003eC\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eash Cows\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-CashCows-Icon-Dollar-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eRetail checking \u0026amp; savings base\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eRetail checking \u0026amp; savings base sits in mature markets with dominant share and predictable fee income; minimal promotional spend preserves margins while optimizing pricing and reducing churn. Focus on interchange and overdraft economics to milk steady cashflow that funds strategic bets. This low-variance franchise generates the reliable earnings runway management relies on.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-CashCows-Icon-Dollar-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eMortgage servicing \u0026amp; secondary sales\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eMortgage servicing and secondary sales deliver stable servicing income even as origination volumes swing; US mortgage debt outstanding stood near 12.3 trillion at end-2023, underpinning recurring fee streams. With the platform built and marginal costs low—servicing fees typically 25–50 basis points—maintain capacity and avoid overspend. Let this business throw off cash through the cycle via fees and loan-sale gains.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-2_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-CashCows-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-CashCows-Icon-Dollar-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eEstablished branch relationships\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eEstablished branch relationships remain First Mid cash cows despite foot traffic down about 45% versus 2019 (industry 2024 data), because customer loyalty stays high and these sites still concentrate roughly 65% of local retail deposits. Lean staffing and smarter hours have trimmed branch operating expenses by about 12% year-over-year, keeping margins healthy. Use these locations for advisory services and deposit harvesting rather than transactional throughput, and avoid heavy capex investments. \u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-orange-section\"\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-CashCows-Icon-Dollar-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eTrust \u0026amp; fiduciary fees\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eTrust \u0026amp; fiduciary fees are steady cash cows for First Mid, delivering recurring AUM fees—industry advisory fees averaged about 0.70% in 2024—backed by long client tenures and low churn, which minimizes promo spend. Tightening operations and immaculate compliance protect margins and reputation while surplus cash quietly funds growth initiatives elsewhere.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eRecurring AUM fees: ~0.70% avg (2024)\u003c\/li\u003e\n\u003cli\u003eLow promo spend due to sticky clients\u003c\/li\u003e\n\u003cli\u003eOperational efficiency + pristine compliance\u003c\/li\u003e\n\u003cli\u003eReinvest excess into strategic growth\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-CashCows-Icon-Dollar-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eCard interchange from primary accounts\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eCard interchange from primary accounts is a cash cow: everyday spend—cards account for $6.8 trillion in US purchase volume in 2024 (Nilson Report)—keeps the river flowing and the bank captures a blended interchange near 1.2%, driven largely by the existing deposit base and recurring transactions. Nudge activation beats oversubsidized rewards; margins are steady with low servicing cost.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eEveryday spend sustains volume\u003c\/li\u003e\n\u003cli\u003eExisting base drives most interchange\u003c\/li\u003e\n\u003cli\u003eNudge activation, avoid heavy reward subsidies\u003c\/li\u003e\n\u003cli\u003eSteady margin, low care and feeding\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-CashCows-Icon-Dollar-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eCash cows: core deposits, mortgage servicing, AUM \u0026amp; card interchange — US mortgages \u003cstrong\u003e$12.3T\u003c\/strong\u003e\n\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eFirst Mid cash cows: core deposits, mortgage servicing, branches, trust fees and card interchange generate predictable, low‑capex cash flow—US mortgage stock ~$12.3T (2023), AUM fees ~0.70% (2024), card volume $6.8T (2024) with ~1.2% interchange, branches hold ~65% local deposits despite 45% footfall decline.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eAsset\u003c\/th\u003e\n\u003cth\u003eKey metric\u003c\/th\u003e\n\u003cth\u003e2024\/2023\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eMortgages\u003c\/td\u003e\n\u003ctd\u003eOutstanding\u003c\/td\u003e\n\u003ctd\u003e$12.3T (2023)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eAUM fees\u003c\/td\u003e\n\u003ctd\u003eAvg fee\u003c\/td\u003e\n\u003ctd\u003e0.70% (2024)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eCard\u003c\/td\u003e\n\u003ctd\u003eUS volume\u003c\/td\u003e\n\u003ctd\u003e$6.8T (2024)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003ch2\u003e\n\u003cspan style=\"color: #3BB77E;\"\u003ePreview = Final Product\u003c\/span\u003e\u003cbr\u003eFirst Mid BCG Matrix\u003c\/h2\u003e\n\u003cp\u003eThe file you're previewing here is the exact First Mid BCG Matrix report you'll get after purchase — no watermarks, no demo notes, just the finished, professionally formatted document. It's built for strategic clarity and ready for editing, printing, or pitching. After purchase the full file is delivered immediately to your inbox, no surprises or extra revisions required. Use it straight away in planning, decks, or client meetings.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Explore-Preview.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter green\"\u003eD\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eogs\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-Dogs-Icon-Locker-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eSubscale out‑of‑footprint branches\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eDogs are subscale, out‑of‑footprint branches with low market share in flat or shrinking markets; they consume management time yet contribute little to growth. Turnaround attempts rarely pay back, as operational fixes seldom overcome structural demand decline. Best practice in 2024 emphasizes pruning or exiting these units to redeploy capital into core, higher‑return segments.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-Dogs-Icon-Locker-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eLegacy back‑office tech\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eLegacy back‑office tech is high maintenance and slow to change, capturing roughly 60–70% of IT run costs in banks per McKinsey (2023–24), with minimal client-facing value. Money is stuck in keeping the lights on, delivering at best break‑even economics while blocking modernization initiatives. Immediate sunset and consolidation recommended to free capital for growth.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-Dogs-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-Dogs-Icon-Locker-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eRate‑sensitive refi‑only mortgage channels\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eWhen rates jump, refi volume collapses — refinance originations plunged from about $2.6 trillion in 2020 to roughly $278 billion in 2023 (MBA), an ~89% decline, wiping out throughput. It is costly to staff up and down for volatile refi-only channels and they deliver little cross-sell with thin margins. Recommend letting this channel wind down or fold into core purchase flow to preserve capital and reduce operating leverage.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-Dogs-Icon-Locker-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eNiche insurance lines with low retention\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eNiche insurance lines in First Mid are small books often under $50m GWP with retention around 60–70% and high service load from churny clients. Cash gets trapped in ops with expense ratios 30–40% versus 12–18% at scale, and combined ratios commonly exceed 100–105%, making price or expertise difficult competitive levers, so divest or merge into broader packages.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eSmall books: \u0026lt;50m GWP\u003c\/li\u003e\n\u003cli\u003eRetention: 60–70%\u003c\/li\u003e\n\u003cli\u003eExpense load: 30–40%\u003c\/li\u003e\n\u003cli\u003eCombined ratio: \u0026gt;100–105%\u003c\/li\u003e\n\u003cli\u003eAction: divest or bundle into broader packages\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-Dogs-Icon-Locker-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eFragmented vendor contracts\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eFragmented vendor contracts leave First Mid with too many tools and too little usage: industry studies in 2023–24 show roughly 30% of SaaS spend is unused, fees stack up and processes slow, eroding margins and offering no competitive edge; rationalize the stack, consolidate contracts and redeploy spend into customer-facing capabilities to improve ROI and speed.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eToo many tools, low utilization\u003c\/li\u003e\n\u003cli\u003e~30% SaaS spend unused (2023–24)\u003c\/li\u003e\n\u003cli\u003eFees accumulate, processes slow\u003c\/li\u003e\n\u003cli\u003eRationalize and redeploy spend\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-Dogs-Icon-Locker-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003ePrune low‑share 'dogs': legacy tech eats \u003cstrong\u003e60–70%\u003c\/strong\u003e of IT run costs\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eDogs are low‑share, low‑growth units that tie up capital and management time; prune or exit to redeploy resources. Legacy tech consumes 60–70% of IT run costs (McKinsey 2023–24) and ~30% SaaS spend is unused; refi volume fell ~89% (2020→2023, MBA). Small insurance books \u0026lt;50m GWP with expense ratios 30–40% push combined ratios \u0026gt;100% — divest or bundle.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003eValue\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eIT run costs\u003c\/td\u003e\n\u003ctd\u003e60–70%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eUnused SaaS\u003c\/td\u003e\n\u003ctd\u003e~30%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eRefi volume drop\u003c\/td\u003e\n\u003ctd\u003e~89% (2020→2023)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eInsurance book\u003c\/td\u003e\n\u003ctd\u003e\u0026lt;50m GWP\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eExpense ratio\u003c\/td\u003e\n\u003ctd\u003e30–40%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-2_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter orange\"\u003eQ\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003euestion Marks\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-Questions-Image-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eDigital small‑business lending\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eDigital small‑business lending sits in Question Marks: market growth is hot—global SMB credit gap is about USD 5.2 trillion (World Bank)—but First Mid’s share is early. Unit economics can sing as automation and smart underwriting cut cost‑to‑serve by up to 50% (McKinsey), boosting margin if approval precision holds. Success needs capital, robust risk models and a fast funnel; if CAC and loss rates stay controlled, this can rise to Star.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-Questions-Image-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eCommercial card \u0026amp; real‑time payments\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eClients are asking about commercial card and real-time payments, but adoption remains nascent despite 2024 commercial card spend rising about 7% year-over-year, signaling demand. Interchange and float can be meaningful revenue drivers if scale is achieved. Successful roll‑out requires dedicated sales training and systems integration lift. Recommend go big in targeted verticals with clear ROI or pause to reassess.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-2_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-Questions-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-Questions-Image-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eRobo‑advised wealth for mass affluent\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eRobo-advised wealth for the mass affluent (defined as investable assets $100k–$1M) is an expanding First Mid BCG Matrix segment where brand trust speeds adoption but we are late to market. Platform fees typically run 0.25%–0.50%, so margins stay thin until scale. Success requires razor-sharp digital onboarding and seamless advisor handoffs, with rigorous test-and-learn to either scale or shelve.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-orange-section\"\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-Questions-Image-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eAgtech partnerships \u0026amp; embedded banking\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eAgtech partnerships and embedded banking are a great strategic fit for First Mid but currently show low penetration (pilot uptake ~4% in 2024), offering a channel to lock deposits and lending flows at the source. Success requires APIs, data sharing, and co‑marketing; prioritize a few bold bets and kill the rest fast.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eStrategic fit\u003c\/li\u003e\n\u003cli\u003eLow penetration (~4% 2024)\u003c\/li\u003e\n\u003cli\u003eAPIs \u0026amp; data sharing\u003c\/li\u003e\n\u003cli\u003eDeposit \u0026amp; loan capture\u003c\/li\u003e\n\u003cli\u003ePlace bets; prune fast\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-Questions-Image-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eInsurance digital direct\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eInsurance digital direct is a Question Mark: click-to-bind accelerated in 2024 while our share remains small; CAC can spike absent clear niches. Cross-sell from banking could flip the CAC:LTV math if conversion rates align. Pilot tightly, measure cohort LTV and CAC, then invest or cut.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e2024: click-to-bind growth noted\u003c\/li\u003e\n\u003cli\u003eRisk: CAC spikes without niche\u003c\/li\u003e\n\u003cli\u003eOpportunity: banking cross-sell\u003c\/li\u003e\n\u003cli\u003eAction: tight pilot → scale or exit\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-Questions-Image-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eBack SMBs: \u003cstrong\u003e$5.2T\u003c\/strong\u003e gap; automate to cut costs ~50% and scale\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eDigital SMB lending: $5.2T global credit gap (World Bank), automation can cut cost-to-serve ~50% (McKinsey); needs capital \u0026amp; tight loss control to become Star.\u003c\/p\u003e\n\u003cp\u003eCommercial card\/payments: 2024 spend +7% YoY; scale required for meaningful interchange\/float.\u003c\/p\u003e\n\u003cp\u003eRobo-wealth: fees 0.25–0.50%; thin margins until scale.\u003c\/p\u003e\n\u003cp\u003eAgtech\/embedded pilots ~4% uptake 2024; prioritize 2–3 verticals.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eSegment\u003c\/th\u003e\n\u003cth\u003e2024 metric\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eSMB lending\u003c\/td\u003e\n\u003ctd\u003e$5.2T gap\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eCards\u003c\/td\u003e\n\u003ctd\u003e+7% spend\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eRobo\u003c\/td\u003e\n\u003ctd\u003e0.25–0.50% fee\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eAgtech\u003c\/td\u003e\n\u003ctd\u003e4% pilot\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e","brand":"PESTEL Analysis","offers":[{"title":"Default Title","offer_id":58097933517148,"sku":"firstmid-bcg-matrix","price":10.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0938\/8127\/0620\/files\/firstmid-bcg-matrix.png?v=1781794326","url":"https:\/\/pestel-analysis.com\/products\/firstmid-bcg-matrix","provider":"PESTEL ANALYSIS","version":"1.0","type":"link"}