A survey of several hundred community banks shows that most of them have seen an increase in deposits as customers leave larger, troubled banks, according to The Independent Community Bankers of America.
“This survey clearly shows that the vast majority of community banks are well-positioned to survive the economic downturn and, perhaps, even reclaim some of the customers from larger banks,” ICBA CEO Camden Fine said in a press release.
Of the community banks surveyed, 55 percent have seen an increase in deposits as a result of new customer acquisition. Only 17 percent have had customers withdraw deposits from their institutions, ICBA said.
