Team advances in banking competition

Five student teams, including a team from Commonwealth University-Bloomsburg, advanced to the finals this week in the 2023 Conference of State Bank Supervisors' (CSBS) Community Bank Case Study Competition, emerging from a second round of 14 teams.

This is the ninth year of the competition, which is open to undergraduate students in all fields of study as an opportunity to gain valuable first-hand knowledge of the banking industry. 

Bloomsburg students involved in the competition are Jacob Bodenschatz (Royersford, Pa.), Melannie Egan (Lewisburg, Pa.), Peter Eklund (Richboro, Pa.), and Alexis Schoonover (Wyalusing, Pa.), while Emma Fortune (Wilkes-Barre, Pa.) is the student videographer. Victoria Geyfman, professor of finance, is the team advisor for Bloomsburg.

"This is exciting news and an honor to be among the top five teams in the country," said Geyfman. "Our students worked very hard and I know they can't wait to hear their final placing."

A total of 34 student teams representing 28 colleges and universities entered the competition this year. The final five teams are:

• Commonwealth University-Bloomsburg
• Iowa State University
• Messiah University (Pennsylvania)
• The University of Tennessee at Martin
• Trine University (Indiana)

This year, teams were tasked with examining how community banks position themselves for success and sustainability as they face a competitive job market, succession challenges, and changing consumer needs. Each student team learned how its bank is recruiting and retaining talent, approaching success planning, and using technology to advance its operations.

Each student member and faculty advisor of the first-place winning team will receive a $1,000 scholarship and present their findings at the Community Bank Research Conference. Their work will be published in the annual CSBS Journal of Community Bank Case Studies. Teams that place second and third will also receive scholarships and have their works published in the journal.

The top three teams will be announced at the State Federal Supervisory Forum in Philadelphia on July 12.