There is strength in being small that enables institutions to know their customers on a much deeper level. Small financial institutions can quickly customize products and services to address their customers’ needs and, in some cases, they can leverage the flexibility of their business models to take advantage of new business opportunities.
This flexibility allows banks to maintain strong relationships with customers— particularly those customers who don’t fit a “typical” borrower profile. It also explains why community banks have a long history of providing essential financial services to households, small businesses, and small farms in communities across the country.