5/11/2009
An article on BizBox, already a big proponent of community banks and their role in supporting a vibrant economy, celebrates the front-page coverage of community banks by the New York Times.
The article is a good jumping-off point for several other BizBox articles about the value of community banks.
SEDONA's take: the New York Times article underscores the challenge and opportunity that community banks and regional banks face.
- First, there's the challenge. Community and regional banks need to distinguish themselves from the national banks and financial services firms that find themselves currently submerged in the financial crisis. Community banks and regional banks have a track record of stable, predictable management and growth. These banks need to reach out to their customers, and to their communities, to get this message out.
- Next, the opportunity. For community banks and regional banks, this is a time where members of their communities are seeking a banking relationship where they can feel their money is safe and under conscientious stewardship. This presents an opportunity for a community bank to experience strong growth, with new customers who will stick around for a lifetime.
Read the BizBox Article:
Read the New York Times Article:
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