High Performance in the True Local Community Bank
“Community banks hold the majority of deposits in U.S. rural and micropolitan counties, and there are more than 600 counties--or almost 1 out of every 5 U.S. counties--that have no other physical banking offices except those operated by community banks." --FDIC
We’ve all heard it. Many community banks will be gone in the coming years, swallowed by mid-size and larger organizations as part of the great consolidation. No one will deny that larger economic and regulatory factors have triggered a wave of ongoing merger and acquisition activity—but a tsunami large enough to wipe out more than 65% of banks across the country? Statistically and realistically, that is unlikely. True Local Community Banks (TLC) are those that know their customers the best and provide the utmost in customer service.
Nevertheless, some subset of the TLC Bank population, those at or under $300 million in total assets, will be challenged in the coming years, if not to remain open then at least to stay appropriately profitable.