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-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Talk about mobile banking I mean that it has become a huge finger as they wouldn't very long ago that I thought that's had a pretty crazy you know who's going to trust -- on their phone.
But it's really become enormous.
Holding has gone so there was just a concept a couple of years ago it was a real channel for us it's really important for our customers in the fourth quarter.
We -- 6%.
Of all of our deposits made by consumers over Smartphone 6% of all the -- across the country so it's been great and it it makes it easier for customers to bank -- us.
They can do when they want where they want how they want they're happier.
Do it themselves Larry opening more branches of mobile -- -- -- -- -- -- because -- -- -- branches in communities -- customers want -- -- -- advice to help -- -- -- -- mortgages and helping start new businesses and give loans to start a business look.
Still come to the branches right they -- to a transaction on a mobile device that they would -- gone to -- branch for.
But our -- -- changed and we've added 3000 offices.
In our existing branches without hitting -- square foot.
So we change the way the -- looks.
And people are coming to the branch not necessarily do a transaction given the choice had to do that capital come to a branch to sit down with -- advisor photographer investigates.
-- US -- people don't focus on this part of your business and this is really the heart of your business.
Much complaining -- be forgotten just I'm the general manager -- these guys at the quarterbacks on the field you know getting stuff done.
But we've we've been making huge investments -- small business commercial banking branches technology.
We -- -- of the day in.
We -- with three years directorate your record profits we've been nonstop investing just -- battleship company.
-- -- -- -- -- -- -- -- -- -- layoffs there and of course all -- there was more people were making huge investments to grow and they're almost everything you weren't.
And and you hear you can see this beautiful -- -- here it is a perfect example of people coming and telling how many people visit every quarter.
Or clients a window that we get every quarter on aggregate customers' business four times a small business this business four times.
Three quarters of our customers are gonna -- regularly and it's the same for young customers -- -- customers.
You know customers that are businesses -- consumers that regularly -- -- risks that need help.
That's where they wanna open accounts that's what I -- to do this let me.
I -- about the -- to capital ratio because this is another thing that analysts are critical of you about saying that there are a lot of loans that are running off you have to replace them at the same time deposits go -- and not.
What are you doing to turn that around I think -- it's absurd what you doing a little more money then of course that's what got us into the crisis but that's what analysts are demanding you do now.
We we've been doing business with small businesses all across the country.
We've been the number one SBA lender three years in a row.
And we continue to do more and more with small business community to lend them money homegrown start their businesses it's been it's been a great business for us it is also true.
That we haven't seen as much demand from our small business clients as we think it might but that's gonna -- as the economy comes back confidence picked up and will be there to help out.
Small business -- -- percent of your your.
-- -- -- -- -- -- Ten to 15%.
Every quarter left headquarters large corporate lending is wide open the capital markets are wide open and a mortgage origination by -- going up.
What's been going up you just principally deposits.
-- parts to use them all.
But what anyone who if anyone was -- -- loan we make the world -- Taylor housing and mortgages right now where do you think we are and that's like.
What -- house include turn.
The mortgage mortgage legitimate -- people complain about still too tight.
Appraisal too tight you know income demanded to tell you we still haven't opened up to securitization market so -- -- area where the government in the banks all wanna get this done.
-- securitization more to make mortgage cheaper make homes more affordable and so we -- for -- of the crisis we still haven't done that.
I guess -- -- to news items that are out there right now I'm senator Harkin senator Defazio talking about the trading and speculation tax.
That would -- target complex trades and financial firms.
What -- would that.
-- market what would it deal on the go.
We have the best widest deepest most transparent capital markets -- there are millions of ideas into the -- -- wasn't -- we've always said we should have performed.
Then you have a conversation -- fix that but they're found that things coming -- There's a big dialogue what would really wanna fix would want to keep it not for the big of the -- quarter sales tax exempt principal actors and -- hurt that the president of the taxi.
And -- depends -- it was usually the taxes get passed on the customer.
Gas tax get past those customers they'll -- the pet -- customer -- -- -- make it -- -- -- make it slightly more expensive for investors.
To invest and for competition but I don't know the specific -- so this tax and there may be positive things -- unaware.
What do you think about the movement by some shareholders to separate the chairman and CEO.
Well it's not the exclusive JPMorgan.
Now they're my -- -- it I think in the investors.
Should have the flexibility to decide what's appropriate that company with its own circumstances at the time.
They're perfectly reason salute to -- -- -- -- -- put together there is one academic that it came -- they separated stocks did worse.
-- like you know Enron WorldCom had separate chairman CEO.
And different directors have -- chairman C -- the separate people to dominate the rest of the board but my board wants everyone equal.
We director we -- the presiding director of the not sustain above.
At any point time my board to eleven members six from farming to educate the chairman they can change the CEO achieved presiding director of leader that's the way -- big.
If they pose an appropriate they should decide but -- when you start dictating management of human situations it is limiting the ability to do something and the you know I think -- is quite hard hired him to run a company.
And I would've -- to -- one if I had a separate chairman.
I mean life is too short and it would be too hard that it like that they're worried about -- -- -- commercial maybe want to my job.
So you know what if if if it happens it happens but it should I personally legislative.
So what would you -- -- happen.
And we could happen where the legislation now what could happen at JPMorgan Chase you just anyone on the bank -- that they were a separate you have someone about your support of the board will decide which programs -- company.
If they decide who should be separate you I will probably take -- vice.
Does that hurt your feelings of people are pushing for this after all go down to the financial crisis you know because -- -- -- quickly up -- speaking -- investors.
A lot of savvy investors think you should the flexibility.
This becomes a political issues you know most of people ask you -- unions.
-- that there is per fugitive they're Cheryl is true but no they shouldn't dominate the scene with.
But the suicide if you owned a company you wanted to -- you wouldn't want it.
To look what's happened debate multi -- -- -- that's like I don't think it's that significant issues a look at spent any time -- about it and.
Brian let me ask you.
As you go out -- expanding put out more and more branches how do you decide where the tipping point is how do you decide that you have at a I feel like everywhere -- -- this gene expression of a single corner.
-- glad -- glad you feel that because we're trying to make sure that customers feel convenience.
And we look at -- market by market we study -- power customers for use and beverage is what the behavior looks like.
And you know we we try to make a determination when we're at the right place we've made a lot of progress we have more than -- thousand branches in California now.
Just for four years ago -- -- 600.
And so we watcher consumer behavior are we are we -- the engagement that we -- in and we feel good about.
-- -- -- Employment -- interviewed some of the dynamics -- -- -- you opening revert tropical for -- for them for years.
We visit -- this -- Antonio just open it in -- community.
In -- was great.
We've agreed to the people there that spoke four languages are helping customers and lots of different ways house thirty have you they have they have I mean it's amazing it's it's okay.
The investment accounts small business accounts yeah.
We're accounts mortgages down and you know we're seeing that all across the country from San Francisco Orlando -- Miami Dallas -- -- --