There are nearly 8,000 community banks, including commercial banks, thrifts, stock and mutual savings institutions, with more than 50,000 locations throughout the United States. Assets may range from less than $10 million to $10 billion or more. Community banks constitute 97 percent of all banks! We are proud to be your locally owned community bank.
So what is it that makes a community bank so special. Check out these facts:
• Unlike many larger banks that may take deposits in one state and lend in others, community banks channel most of their loans to the neighborhoods where their depositors live and work, helping to keep local communities vibrant and growing
• Because community banks are themselves small businesses, they understand the needs of small-business owners. Their core concern is lending to small businesses and farms. The core concern of the mega banks is corporate America.
• Local residents control the bank as shareholders and/or account holders.
• Community banks are the primary funding source for most local construction projects and residential mortgages.
• Community banks make many financial donations to civic groups and many bank employees are members of local civic groups.
• Community banks support many of the area's small businesses.
• Community bank employees and board members volunteer their time and support to local community projects.
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