The Future of Community Banking

At Fidelity Bank of Florida, we continue to grow year after year, but we want you to know that our continued growth doesn’t mean we will outgrow our local community. Instead, it means we will become more and more committed to it and to you.

It has been said that all big banks were once small, community banks. But the number of community banks decreased during the 15-year span of 1985 to 2010. Why? Because banking deregulation of the beginning of that era translated into larger banks acquiring smaller banks as an easy way to get new customers. And community banks tend to have more financially stable customers who maintain higher average balances, which are the type of customers they wanted.

But where are community banks going from here? There’s a lot of talk by politicians about breaking up the big banks, nine of which hold about 75% of the nation’s finances. Many pundits worry that these megabanks have too much power, and whether or not they do, changes may be on the horizon for them.

Thankfully, though, Fidelity Bank of Florida is among the 6,000 other banking institutions, including small community banks to larger regional banks, that the other one-fourth of American individuals and companies rely on.

And here’s why: Community banks aren’t beholden to Wall Street-based boards and, therefore, are able to serve a wider variety of interests. Community banks have established a niche with local small and medium-sized businesses, and also with local communities happy to enjoy a more personalized approach to banking. Our products are not of the cookie-cutter, one-size-fits-all variety.

What’s more, the people who run community banks usually live locally, and you might even run into them at your local branch … or at a Little League game … or at a local charity fundraiser. Funds deposited by customers tend to stay within the community and contribute to loans to open or grow local small businesses. The bottom line is that community banks aren’t just about the bottom line; they are contributing members of the local community. When the community hurts, they hurt; when the community soars, they soar. Community banks have a vested interest in what is happening around them.

Fidelity Bank of Florida serves all of Central Florida with locations in Orlando and Brevard County. We’re here for you today, and we’ll be here for you for the long run because we are part of your local community and we care about the future of Central Florida. Stop in today to talk to a banker, and check out our wide selection of financial services for individuals and small businesses. Give us a call at 321-452-0011.