With large and midsize banks choosing to build their own investment services units, Raymond James Financial Services has targeted community banks to expand distribution of its investment products nationwide.

Since Jan. 1 the St. Petersburg, Fla., asset manager has established 24 sites in community banks. Early this month, it announced five sites at four community banks — Rushville, Ill.’s Union Bank; Mount Airy, Md.’s Farmers and Mechanics Bank; Cary, N.C.’s Capital Bank Investment Services Inc.; and Channelview, Tex.’s Woodforest National Bank, which has two.

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