September 30, 2020

Who Do US Community Banks Rely on for Their Digital Banking Products and Services? (% of respondents, April 2020-July 2020)


Data is from a September 2020 Federal Reserve System, Conference of State Bank Supervisors (CSBS), and Federal Deposit Insurance Corporation report titled "Community Banking in the 21st Century: 2020 Research and Policy Conference" conducted by The Survey Research Institute at Cornell University. 376 institutions were surveyed digitally during April-July, 2020. Surveyed entities included state-chartered banks. The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 establishes a community bank as an institution with under $10 billion in assets. Asset size of institutions surveyed included the following: up to $50 million (3.8%), $50-100 million (9.8%), $100-300 million (36.6%), $300 million to $1 billion (31.8%), $1-2 billion (11.6%), $2-10 billion (4.8%), and greater than $10 billion (1.5%). The survey was not distributed in every state. The Conference of State Bank Supervisors (CSBS) is the nationwide organization of financial regulators from all 50 US states.