Is there any good news in these terrible stock market free falling times?
Yes, according to Mark Anderson of the Twin Cities’ Finance and Commerce.
Community banks are doing okay so far primarily because they are very conservative and do not borrow in credit markets.
In other words, they get their money from depositors.
Not only is this a very wise approach to the use of money but it’s refreshing. In fact, it might even make the difference between life and death for some businesses that have to get capitol.
Even thought Anderson’s article is about Minnesota, I’ve been hearing the same thing about the smaller Tennessee banks as well.
Question is- Why hasn’t the media brought us the good lending news from small banks ?