Conventional wisdom holds that community banks are doomed because of rising regulatory, technological and staffing costs. When Guernsey Bancorp, a small Westerville, Ohio institution, recently sold to First Financial Bancorp in Cincinnati, Guernsey’s chief executive offered the merger as proof of this theory.

“The $125 million bank franchise is dead,” the bank’s CEOsaid. “Unless you’re a small bank and the only bank in a relatively small town, you won’t survive today.”

Register or login for access to this item and much more

All Financial Planning content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access