The FDIC 2016 Community Banking Conference provided a foundational approach for the market. With the theme of Strategies for Long-Term Success, four conference panels discussed the community banking model; regulatory developments; managing technology challenges; and ownership structure and succession planning.
Chairman Martin J. Gruenberg announced that community banks today account for 13 percent of banking industry assets but hold 44 percent of the industry’s small loans to businesses and farms. In fact, for more than 20 percent of the nation’s 3,100 counties, the only banks operating in those counties are community banks.
The FDIC has taken steps to respond to issues raised at the conference including:
- Hosted a panel discussion at a meeting of the FDIC Advisory Committee on Community Banking about the millennial generation and their banking preferences.
- Conducted three outreach meetings with more than 100 industry participants to provide guidance about the formation of de novo institutions.
- Issued for public comment a handbook for organizers of de novo institutions, describing the process of applying for federal deposit insurance
So, even though the big banks get the major media coverage, sponsor college and professional sporting events, and drive huge transaction volumes and new product innovation, it’s actually the community banks which are supporting the nation’s small business infrastructure in a huge way.
OrboGraph has many characteristics similar to community bank institutions. Although our check recognition and healthcare payment product innovations are utilized by many of the large financial institutions in the U.S., the majority of our 1500+ banking client base is comprised of community banks.
Our family culture and quest for a superior personal, customer experience drives our market adoption. Join us in Atlanta for new innovations at the OrboGraph Client Conference in March!