Community Banks Pop Up Catering to Niche Markets with Better Service

By Kirk, Trisha | The Washington Times (Washington, DC), July 19, 1999 | Go to article overview

Community Banks Pop Up Catering to Niche Markets with Better Service


Kirk, Trisha, The Washington Times (Washington, DC)


Community banking is on the rise and the D.C. area is no exception.

While giant banks are consolidating, small banks flourish by targeting niche markets and enticing disgruntled customers with personal service.

At least 80 percent to 90 percent of U.S. banks today are community banks, said Bert Ely, president of Ely & Company, a consulting firm in Alexandria.

"[Community banks] are not a flash in the pan. As long as the government doesn't [handicap them] they are going to be a permanent part of the banking industry," he said.

Single-branch James Monroe Bank in Arlington opened last June in the midst of a community bank wave. President and Chief Executive Officer John Maxwell said the bank was expected to break even in 18 months but succeeded in 10. On June 30, assets had risen to more than $38.4 million.

Community banks often cater to niche markets to attract business; James Monroe is focused on small business lending.

"That is the trend and in my opinion it's just beginning. There is that void that's left for the smaller people," he said. "The entrepreneurs out there are really the backbone of small banks."

James Monroe offers additional services for small business owners, including PC banking and business sweep accounts. The bank has also hosted several seminars that offer entrepreneurs advice on starting or expanding a business.

"Most of the start-up banks are focused on small business professionals, the self-employed . . . that's where there is a greater receptivity. Community banks are more flexible in dealing with smaller businesses," Mr. Ely said.

Big bank mergers also give small banks the opportunity to snag a few clients from the fallout of angry customers who are through dealing with the giants. …

The rest of this article is only available to active members of Questia

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

Community Banks Pop Up Catering to Niche Markets with Better Service
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.