Community Bank

Community Bank

An independent, locally-owned commercial bank. It operates exclusively in and derives its funds from the community in which it is based. It is sometimes easier to obtain a loan from a community bank because it may have better knowledge of the local market. It is also known as an independent bank.
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But it comes as no surprise to those of us involved in community banking to learn that, according to a recent report from the Federal Reserve Bank, the number of community bank branches rose by more than 50% in the last 15 years, and the number of new bank openings increased dramatically.
The evolution of community banking
BISYS, a provider of business process outsourcing solutions for the financial services sector, has entered into a multi-year outsourcing agreement with Cincinnati-based Peoples Community Bank.
BISYS PROVIDES OUTSOURCING SOLUTIONS FOR FINANCIAL SECTOR
Even though Lake City is a relatively small community bank of only $300 million in assets, some of our offices are in direct competition with both of the largest financial institutions in Indiana and with large regional holding companies ranked among the largest financial institutions in the United States.
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