Community banks feel pinch of shifting industry

Several community banks in the region are looking to find opportunity amid a heavy amount of challenges, leading with the industry’s rapid digital shifts.


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  • | 5:10 a.m. April 22, 2022
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Pifferi. Starting a bank today is wildly different than it was 20 years ago, Kyle DeCicco says. For one, the capital needed now is quadruple what it was in 2003.
Pifferi. Starting a bank today is wildly different than it was 20 years ago, Kyle DeCicco says. For one, the capital needed now is quadruple what it was in 2003.
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As consumer demand centers around a digital approach to banking, the traditional way of community banking — locally-based institutions where customers know their teller and the bank president is a civic leader — is slowly disappearing. In response, the handful of community banks that remain in the region are shifting strategies in order to stay relevant. 

 

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