Community Bank FDIC Online Operations 
Abrigo
JANUARY 22, 2015
According to a recent survey from four Federal Reserve Banks, small regional and community banks have the highest approval rate for small business loans. The 2014 Small Business Credit Survey was a joint operation conducted by the Federal Reserve Banks of New York, Atlanta, Cleveland and Philadelphia.
Independent Banker
JUNE 30, 2022
Academy Bank COO Tom Kientz notes that the community bank was eager to expand its deposit and loan services. Looking for an avenue to increase its deposit base, Academy Bank tapped into a market it hadn’t explored before: homeowners associations. Two bank charters (which doubles FDIC coverage).
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Independent Banker
JULY 31, 2022
Observing the gap in pandemic relief in south Florida due to a lack of local community banks, a trio of banking veterans teamed up to form a digital-first community bank—and were granted a charter in record time to support local businesses. Name: Locality Bank. Keith Costello, Locality Bank. “We
Abrigo
MARCH 2, 2023
But when a storm hit, limitations on the back end due to its insufficient operations technology hampered Southwest’s ability to handle the most basic customer service in that industry: getting customers safely where they needed to be. Executives took a pay cut. To its credit, Southwest was investing in customer-facing technology.
PYMNTS
OCTOBER 17, 2017
ILCs are used to form industrial loan companies, better known as industrial banks. An industrial bank is an FDIC-insured depository institution that is generally subject to the same banking laws and regulations as any other bank charter type, with the important exception of the Bank Holding Act of 1956.
Gonzobanker
MAY 4, 2020
And businesses that deferred moving online or had no reason to operate online have made the leap practically overnight.”. million fundraise including community bank participants Bank of St. Elizabeth, Coastal Community Bank, First Financial Bank, Kearny Bank, Provident Bancorp and Sunwest Bank.
PYMNTS
AUGUST 22, 2016
Despite banks’ best efforts to move more of their customers online – and thus lessen the need for overhead-heavy branches – consumers are turning out to be way more into visiting the local branch than initially imagined. Which is a bit of a problem, since there are objectively fewer banks now than there were even five years ago.
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