A community bank is a depository institution that is typically locally owned and operated. Community banks tend to focus on the needs of the businesses and families where the bank holds branches and offices. Lending decisions are made by people who understand the local needs of families, businesses and farmers.
Community branches provide full banking services, including business banking, plus:
- Long-term commitment to the local community
- Local employment opportunities
- Branch managers and staff who live in and are involved in the community
- Opportunities to attract further business to the community
- Potential for substantial funding for community organisations, charities and projects through distribution of profits in the form of grants
