Academic journal article ABA Banking Journal

The Headache: Questions Customers Ask Today

Academic journal article ABA Banking Journal

The Headache: Questions Customers Ask Today

Article excerpt

While large banks have communications staffs and 'spin control" for some of the uncomfortable news coming out these days, community banks typically have their own banking staff fielding the questions caused by today's rocky economy. We asked bankers what they were hearing and what they were answering. Below is what they passed on.

If you have another question--and your answer--that you are getting from the public that you'd like to share, e-mail it to scocheo@sbpub.com, and we'll consider it for the online edition of this column at www.pusstheaspidnplus.com. To submit new "Pass the Aspirin" questions, or volunteer to be a prescriber, also send to scocheo@sbpub.com

Remedy 1

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Pamela J. Fawver, vice-president and branch manager, Bank of Lancaster, $325.5 million-assets, Kilmamock, Va.

The most frequent question on the minds of borrowers has less to do with specific economic indicators, but more to do with, "What do the economic headlines mean to 'me' if I want to borrow money?" Borrowers suspect that lending terms have changed, but do not know to what extent.

Our bank has money to lend and the fundamental principles of qualifying for a loan request in our small community bank are much the same as they ever were. A lender must get to know the customer, the request, and financial strengths and weaknesses before a decision is made. Recent changes in our tending guide lines do not apply to many of our applicants and are often transparent to those to whom they do apply. …

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