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Small Business in Banking Today

Last update on Sept. 11, 2015.

Small Business in Banking Today

Current Federal Deposit Insurance Corporation (FDIC) statistics indicate that in the year 1990 there were 12,343 banks in the nation. Now at the end of the first quarter of 2015, this number has been reduced to 5,570 banks, which represent a total loss of more than half of the banks in the nation over the past 25 years!

Unfortunately, the majority of the lost banks were community banks, acquired by larger institutions.
Additionally of the remaining banks, approximately half of the branches have been closed, favoring
Technology over personal service.

Community banks, in addition to providing modern technology to the clients; add a high personal service that allows small business owners and individuals, the guidance and support not available in the larger institutions.

According to the Annual Performance Report of the Small Business Administration (SBA), America’s 28 million small business owners are the engine of job creation and economic growth in this country, creating two out of every three net new jobs in the United States, and employing over half of the nation’s workforce. The Small Business Administration (SBA) ensures that these businesses have the tools and resources they need to start and expand their operations and create good jobs that support a growing economy and strong middle class.

The Hispanic American Bankers Association salutes and support the continued contribution of all community banks in our nation, particularly in the South Florida area, where there is a large concentration of small business owners that enjoy the services and support, provided by our
Excellent community bankers!

Hugo A. Castro, President
Hispanic American Bankers Association

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