Message from the President on Community Banking

November 28, 2023

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The financial sector has been under intense scrutiny after the failure of two large financial institutions that specialized in high-risk industries, such as the cryptocurrency sector. Some depositors in local communities might be wondering what this means for their hard-earned money. But consumers ━ and policymakers in Washington ━ must distinguish between community banks like First National Bank of Absecon, which has been serving consumers and small businesses in South Jersey since 1916, and these large banks with a much different business model and risk profile.  Read More