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Posted by on May 12, 2009, 1:42 pm
http://www.nytimes.com/2009/05/12/business/12small.html?hp
This is a fun and thought provoking read about small local banks
nationwide and why they are doing much better than large banks.
Quotation from it:
“Banking should not be exciting,” said Clay W. Ewing, president of
retail financial services at German American Bancorp, a community bank
in Jasper[, Indiana]. “If banking gets exciting, there is something
wrong with it.”
On the downside:
"At DeMotte [a small Indiana bank], Mr. Goetz is bracing for a steep
increase in a crucial overhead cost: the bill from the Federal Deposit
Insurance Corporation, which is basically an insurance fund
underwritten by banks.Last year, DeMotte paid $42,000 into the fund.
This year, because of failures in other parts of the country and
particularly among national banks, that sum will rise to $500,000 or
more."
No judgment; just one of those "put it up on the shelf, take it down
when you need it" reference points.
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