The Strategic Advantage of Local Banks.
George Bailey was not the only banker who cared deeply about his community. Over time, America traded It’s a Wonderful Life for “too big to fail.” Fortunately, local banks have been experiencing exponential growth amidst some negative feelings people have when they think of the big banks such as JP Morgan Chase, Wells Fargo, and Deutsche Bank. Consumers want to bank with someone they trust. A local bank can leverage the fact that they are part of the community and as a result, can respond to their neighbor’s fears by showing integrity and a commitment to the service area. Here are 7 ways local banks can maximize their current strategic advantage.