Tags: banking

Small Banks: Boring But At Least We Are Profitable

Tuesday, 12 May 2009 09:25 AM

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INDIANAPOLIS — It’s unlikely that any group of professionals is happier to highlight the dullness of their work than small-town bankers.

At a recent conference held here by the Indiana Bankers Association, attendees said it over and over: our business is plodding and boring and we would not have it any other way, The New York Times reported.

“Banking should not be exciting,” said Clay W. Ewing, president of retail financial services at German American Bancorp, a community bank in Jasper. “If banking gets exciting, there is something wrong with it.”

It is an ethos squarely at odds with the risk-addicted style of megabanks, like Citigroup and Bank of America, that trafficked in the subprime mortgages and complex financial products that helped drive the country into the grimmest recession in decades.

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