There are more than 6,000 community banks, including commercial banks, thrifts, stock and mutual savings institutions, with more than 52,000 locations throughout the United States.
Assets may range from less than $10 million to $10 billion or more. Community banks constitute 98 percent of all banks.
Community Banks by Region
Of all U.S. banking organizations, 89 percent have assets under $1 billion and almost 60 percent have assets under $250 million.
Community banks are the primary source of lending for small businesses and farms. Even though they compose 8 percent of the banking industry by assets, community banks with less than $1 billion in assets made 33.1 percent of outstanding bank loans to small businesses. Community banks with less than $10 billion in assets made 18 percent of outstanding bank loans to small businesses.
Community banks' boards of directors are made up of local citizens who want to advance the interests of the towns and cities where they live and where their banks do business.
Most community bank loans benefit the neighborhoods where depositors live and work.
Research has shown average fees for checking accounts and other depository services are lower at community banks than at large, multi-state institutions.