In northeastern Pennsylvania, like areas around the country, many customers prefer community banks to national banks, The Times-Tribune reports.
The nation's economic woes trace their roots to the financial sector. Banks and investment houses have been pilloried in popular consciousness. But community bankers are not the cigar-smoking moneybags demonized by Occupy Wall Street protesters, said Wilson Smith, bank equities analyst for Philadelphia-based Patriot Capital Partners.
"When you look at your community bankers, they are showing up to work to meet the financial needs of the community. They are not making swaps and derivative trades or trading for their own account," Mr. Smith said. "They are at the Rotary meetings, they are part of the community."
Landmark (Community Bank) itself was formed as a reaction to bank mergers and acquisitions that swept through the area 10 years ago. When local businesses found the transition rough and service undesirable, they provided capital to start a new bank, or a de novo bank, as new banking companies are called in the industry.
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