Community Banks After the Pandemic

Create a vendor selection project & run comparison reports
Click to express your interest in this report
Indication of coverage against your requirements
A subscription is required to activate this feature. Contact us for more info.
Celent have reviewed this profile and believe it to be accurate.
6 July 2020
Craig Focardi and Stephen Greer

Craig Focardi and Stephen Greer sit down to discuss some of the potential opportunities for community banks coming out of the COVID-19 pandemic.

A couple key points:

  • Community banks have shown a resiliency and a willingness to get their hands dirty in helping their business customers in a time of need.
  • Institutions with less than $1 billion in assets accounted for 20% of all PPP loans. Institutions with less than $10 billion in assets accounted for almost half.
  • The response to the pandemic is an opportunity for these banks to underscore the value-proposition of a small community institution against larger competitors.
  • Community banks may come out of the pandemic in a position to rethink their market niche, especially as customer needs diversify and challenges brought on by the economic fallout become more visibile.
  • Smaller banks are rethinking their niche by exploring new deployment models which leveraged outsourced services to launch specific digital products or brands. (E.g. BankMD or Billinero.)

Please log in to listen to the entire insight.

sign in or sign up to read more

Insight details

Insight Format
Blogs
Geographic Focus
North America