ST. LOUIS – The Wisconsin Department of Financial Institutions (DFI) in conjunction with the Conference of State Bank Supervisors (CSBS) and the Federal Reserve, this week published Community Banking in the 21st Century: Opportunities, Challenges and Perspectives, an annual report that features the findings of a nationwide survey on community banking. The report was released in conjunction with the Community Banking in the 21st Century Research and Policy Conference, hosted by the Fed and CSBS at the Federal Reserve Bank of St. Louis on Sept. 28-29, 2016.
“The message that resonated loud and clear at the conference is that strong community banks make for strong communities,” DFI Secretary Lon Roberts said. “Community banks in Wisconsin provide the products and services that are needed for their customers to be successful, thereby benefiting the local, state and national economies.”
Some of the key themes expressed by Wisconsin bankers were:
- Overall, Wisconsin community bankers view the local and state economies as good and getting better.
- Wisconsin community bankers are seeing increased competition from non-bank entities, credit unions and the Farm Credit System.
- Bankers say that their business customers are showing a desire to add employees, although finding workers with the right skill sets and the ability to pass pre-hiring screenings remains a challenge.
- Wisconsin community bankers are strong supporters of promoting financial literacy in their communities.
Also representing Wisconsin at the conference was Scot G. Thompson, President and CEO of Denmark State Bank.
The 2016 national survey was developed and administered with the assistance of Cornell University’s Survey Research Institute (SRI). It was distributed by state bank commissioners in 30 states. A total of 557 community bankers participated. The survey provides a comprehensive view of what bankers are thinking surrounding key issues facing their industry and how they are responding to changes in their markets. The state-by-state banker interviews were conducted by state banking commissioners from 29 states. The Community Banking in the 21st Century: Opportunities, Challenges and Perspectives report is available online at www.communitybanking.org.
