In honor of Community Banking Month, FNB Bank and the Independent Community Bankers of America® (ICBA) are highlighting the vital role community banks play in strengthening local economies, supporting small businesses, and helping families achieve long-term financial success.
Collectively, community banks fund nearly 60% of small-business loans and more than 80% of bank agriculture loans nationwide while contributing to local tax bases that support schools, infrastructure, and essential services. Community banks also:
- Are favored by small businesses, earning a62% net satisfaction score topping large banks by 13 points, finance companies by 25 points, and online lenders by 60 points.
- Are committed lenders with loan growth that has outpaced noncommunity banks for a decade.
- Offer high-touch, high-tech service, providing modern-day conveniences and technical capabilities while maintaining the personal service for which they are known.
- Expand access to financial services, serving the vast majority of majority-minority communities and low-income counties nationwide.
- Give back to their communities. Civic service is a way of life for community bankers as reflected in ICBA’s National Community Bank Service Awards.
“Community banks cater to the financing needs of their customers as part of their business philosophy, creating meaningful, and long-lasting relationships rooted in the community,” ICBA President and CEO Rebeca Romero Rainey said. “ICBA is proud to represent these financial stewards that empower citizens, support economic opportunity, and strengthen the fabric of towns and cities across the country.”
For more facts about community banks, click here.
About FNB Bank
FNB Bank, founded in 1875, is one of the oldest banks in the state of Kentucky with assets exceeding $740 million. FNB ranks among the highest in the nation in the area of safety and soundness and has earned three consecutive ‘Outstanding’ ratings for the Community Reinvestment Act (CRA) by the FDIC. The bank currently has ten locations located in Graves, McCracken, Calloway, Trigg, and Marshall County. FNB is Member FDIC and an Equal Housing Lender.
About ICBA
The Independent Community Bankers of America® has one mission: to create and promote an environment where community banks flourish. We power the potential of the nation’s community banks through effective advocacy, education, and innovation.
As local and trusted sources of credit, America’s community banks leverage their relationship-based business model and innovative offerings to channel deposits into the neighborhoods they serve, creating jobs, fostering economic prosperity, and fueling their customers’ financial goals and dreams. For more information, visit ICBA’s website at icba.org.
