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Community Banks After the Pandemic

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6 July 2020
Craig Focardi
Stephen Greer

Craig Focardi and Stephen Greer sit down to discuss some of the potential opportunities for community banks coming out of the COVID-19 pandemic.

A couple key points:

  • Community banks have shown a resiliency and a willingness to get their hands dirty in helping their business customers in a time of need.
  • Institutions with less than $1 billion in assets accounted for 20% of all PPP loans. Institutions with less than $10 billion in assets accounted for almost half.
  • The response to the pandemic is an opportunity for these banks to underscore the value-proposition of a small community institution against larger competitors.
  • Community banks may come out of the pandemic in a position to rethink their market niche, especially as customer needs diversify and challenges brought on by the economic fallout become more visibile.
  • Smaller banks are rethinking their niche by exploring new deployment models which leveraged outsourced services to launch specific digital products or brands. (E.g. BankMD or Billinero.)

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