I'm reading a really excellent book about community banking and an *arresting* line from it was, approximately: "A typical community bank has $150M in assets and a 4% net interest margin for about $6M in revenue covering 40 FTEs. Community banking is thus a small business."
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I do product for a SaaS co serving community banks. It's interesting seeing how they are pivoting right now due to competitive pressures. Consumers are moving deposits to high yield accounts, businesses are applying to loans online with the big players.
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Some are trying to compete directly, others are niching down, others are betting on customer service. The next 2-3 years should sort out who chose the right path.
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How is Wells Fargo still in the game?
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Not really! You would be surprised how far the FDIC goes to maintain, keep, and sustain a bank. It is not worth for the FDIC to close an insolvent institution, plus the fear to the public their deposits may be in danger, is not a cost the FDIC likes.
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Also remember, it is the Federal Deposit Insurance Corporation. No insurance company wants to pay out depositors, and then incur more costs to sell a liquidated, depreciated, asset. Where do you think the money from the FDIC comes from? Yeap, us!
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