In the past few years, community banks in the Indianapolis market have aggressively grown deposits, according to recent federal data. Smaller banks are seeing their market shares grow, even though the larger banks have had a stronghold for quite some time. The Indiana Business Journal focuses on this trend in “Smaller Banks Gobbling Up Market Share.”
Giving input from his own professional experiences as a bank executive, Steve Stitle comments “If they’re going to be in Indiana, the banks want to be where the people are…It’s that simple. So what they’re trying to do is pick away at market share, either by being aggressive or having bricks and mortar in the market.”
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