Secretary of Banking and Securities Hails Publication of National Community Bank Research

HARRISBURG, Pa., Oct. 1, 2015 /PRNewswire-USNewswire/ -- While attending the third annual Community Banking in the 21st Century Research and Policy Conference at the Federal Reserve Bank of St. Louis, Secretary of Banking and Securities Robin L. Wiessmann praised the publication of the Community Banking in the 21st Century National Survey, conducted for the second time and published jointly by the Conference of State Bank Supervisors (CSBS) and the Federal Reserve.

The Community Banking in the 21st Century National Survey was administered by state financial services regulators in 39 states to community banks, defined as having less than $10 billion in assets.  A total of 974 community bankers, including 37 in Pennsylvania, participated in the survey. The survey provides a national view of how bankers are thinking about key issues facing the industry and how they are responding to market conditions. 

The key findings of the survey include insights and data concerning community bank regulatory compliance costs, the breadth of their mortgage lending, and their expansion of financial product offerings, including mobile banking services.

"I am pleased that 37 of our community banks participated in the survey this year," stated Wiessmann. "Pennsylvania banks are beginning to recognize the importance of this kind of industry-related research. This publication will help our banks better understand the opportunities in the marketplace, as well as help regulators better understand the challenges facing the community banks they supervise."

The survey results are available on the Community Banking in the 21st Century Research Conference website, www.communitybanking.org.

Media contact: Ed Novak, 717-783-4721

SOURCE Pennsylvania Department of Banking and Securities

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