According to the FDIC, 461 banks have opened a total of 744 new branch offices during the first eight and a half months of 2019. While there are exceptions, the vast majority are full-service brick and mortar branches. That’s good…
Banks Brace for Rate Cuts, Credit Card Crunch
The FDIC put a positive spin on second quarter bank results, and with good reason. There was a lot to be pleased about: · Net Income was up 4.1% from second quarter 2018 for the industry while Community Banks reported an…
Mutual Bank Growth Through Conversion
Unlike commercial banks, mutual banks are community banks with no stockholders or direct ownership. They are co-ops, owned by the depositors themselves. Originally created to promote savings and home-ownership, the first mutual was established in Boston in 1816. Historically, Massachusetts…