Community Banking Is Back: Small Banks Thrive as Big Banks Merge
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SUSHIL K. TULI
is president and CEO of Leader Bank (www.leaderbank.com) and chairman of Leader Mortgage Co. (www.leadermortgage.com), both based in Arlington. |
By Sushil K. Tuli
In the last 10 years there is no doubt that the banking industry has experienced significant consolidation, particularly in New England. BayBank, BankBoston, FleetBoston, Bank of America … and that’s just one sequence of acquisitions. Multinational corporations have aggressively pursued acquisitions as a means to grow in new territories. Despite massive ATM networks, more advanced technology platforms and a wider array of services that the bigger banks can offer, small community banks continue to thrive in Massachusetts.
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