Community banks build better communities
First Community Bank (FCB) and the Independent Community Bankers of America® (ICBA) are reminding consumers: Where you choose to bank and with whom matters. To illustrate the positive impact community banks like FCB have on their communities, ICBA released this video ahead of ICBA Community Banking Month in April.
“When you bank locally, you’re reinvesting in your community, contributing to the welfare of your neighbors and building a legacy of prosperity for future generations,” said ICBA Chairman Timothy Zimmerman, CEO of Standard Bank of Monroeville, Pa. “Community bankers power your region’s small businesses and influence job growth one loan at a time. They’re rooted in your community, ensuring they have a stake in your financial success and the strength of the community overall.”
Community banks support local startups—funding more than 60 percent of small business and more than 80 percent of agriculture loans startups—and contribute tax dollars that help maintain local municipalities and keep local neighborhoods viable and vibrant.
When choosing who to trust with your hard-earned money, FCB and ICBA want consumers to know that they have a choice and know the following:
- Community banks respect and honor their community ties. Community banks and local communities have symbiotic relationships—one cannot thrive without the other.
- Community banks are relationship lenders. They know their customers and understand their financial needs.
- Community banks understand and embrace local businesses. A study from the 12 Federal Reserve banks found that small businesses that apply for loans with community banks are the most successful and most satisfied. ICBA celebrates local entrepreneurship on the third Wednesday of every month with Go Local Wednesday by supporting local businesses via social media.
- Community banks give back. Serving local communities is second nature to community banks.
For more facts and statistics about community banks, click here.
To follow the ICBA Community Banking Month conversation on social media, follow the #BankLocally hashtag on Twitter.
About First Community Bank
With more than $170 million in assets, First Community Bank offers a complete range of financial services including savings, checking, CDs, investment services, consumer, mortgage, and commercial lending, business services, and much more. The philosophy of local bank decision-making and personalized service is the driving force of First Community Bank. Founded in 1993, First Community Bank has six locations in Rogersville, Church Hill, Kingsport and Colonial Heights. For more information, visit www.fcbanktn.com or stop by a branch location near you.
The Independent Community Bankers of America®, the nation’s voice for nearly 5,700 community banks of all sizes and charter types, is dedicated exclusively to representing the interests of the community banking industry and its membership through effective advocacy, best-in-class education and high-quality products and services. For more information, visit ICBA’s website at www.icba.org.