Bowman: Community Banking Industry Has Emerged Stronger

Oct 02, 2019
The community banking sector has emerged from the decade following the Wall Street financial crisis stronger and more resilient, Federal Reserve Governor Michelle Bowman said.

Speaking at a research conference at the St. Louis Fed, Bowman said acquisition data show that many small, locally focused community banks are performing well—challenging the notion that small scale and limited geographic reach are disadvantages.

Bowman—who last month was confirmed for a full term in the Fed's ICBA-advocated community banking seat—also discussed the importance of tiered regulations, the impact of credit union acquisitions of community banks, and the ongoing dearth in de novo bank formation.