Bernanke Speech To Community Banks, From Afar

This was a pre-recorded speech and Bernanke is talking up the importance of community banks.  Bernanke noted, “Their close ties to local economies are, on balance, a source of strength, but a drawback of those ties is that the fortunes of communities and their banks tend to rise and fall together.”

There is some economic frustration as well, “Like larger banks, community banks are also being affected by the state of the national economy. Despite some recent signs of improvement, the recovery has been frustratingly slow, constraining opportunities for profitable lending.”

FULL BERNANKE SPEECH

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