Thursday, December 28, 2006

A Tsunami of Community Banks

In Banking More on Indie Banks, Jeffrey Gangemi of BusinessWeek tells us that new community banks are opening up at a pace unseen since the late 1990s. Start-up banks in 2006 are on pace for 158 new bank openings based upon activity in the first two quarters of the year.

What is driving this rapid increase of new bank start-ups? Well, for one, community banks rarely fail and are usually profitable within three years - not a bad track record for its investors.

But this isn't a "build it and they will come" strategy. The customers are looking for better service, a specialized focus and a more personal touch - something often missing at the bigger banks.

Need help finding the right lender or telling your story the right way? Read "Matchmaking for Business Loans" and give me a call!

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