As Community Bankers Gather in Nation’s Capital, Polling Confirms Growing Public Support for Local Banking

ICBA polling conducted by Morning Consult shows consumers value locally based lending decisions

Washington, D.C. (May 15, 2023) — The Independent Community Bankers of America (ICBA) today is kicking off the 2023 ICBA Capital Summit in Washington with the release of new national and state-level polling data showing Americans in all 50 states have an increasingly favorable view of community banking.

Available on ICBA’s latest “Public Opinion of Community Banks” dashboard, the ICBA polling conducted by Morning Consult in all 50 states found that 72% of U.S. adults say it is important to them that their bank is based in their local community—up from 69% in 2022. ICBA’s polling also found 89% of adults said it is important that their institution is part of the regulated banking system, while 79% cited the importance of locally based lending decisions, which is up from 76% last year.

“As community bankers representing the nation’s nearly 50,000 community banking locations gather in Washington this week for in-person meetings with their members of Congress on key policy issues, new ICBA polling demonstrates the extent of community bank favorability among consumers,” ICBA President and CEO Rebeca Romero Rainey said. “With polling conducted by Morning Consult showing Americans understand the importance of banking locally, ICBA is proud to continue helping community banks advocate on behalf of this vital industry and support local communities nationwide.”

During advocacy meetings with policymakers this week, community bankers will discuss the following key policy issues to ensure their continued strength and ability to serve their customers in urban, suburban and rural America:

• Differentiating community banks.

• The Consumer Financial Protection Bureau’s Section 1071 small-business data collection and reporting rule.

• Congressional oversight of digital assets.

• Supporting U.S. agriculture and the ACRE Act.

• Opposing credit card routing mandates.

• A congressional review of credit union and Farm Credit System policies.

• Closing the industrial loan company loophole

This week’s Capital Summit also draws a range of influential speakers who will address community bankers as they advocate in Washington. Speakers include:

• Treasury Secretary Janet Yellen.

• Senate Banking Committee member Kevin Cramer (R-N.D.).

• House Small Business Committee Chairman Roger Williams (R-Texas).

• House Subcommittee on Financial Institutions Chairman Andy Barr (R-Ky.).

• ICBA President and CEO Rebeca Romero Rainey.

Results of the 50-state polling conducted by Morning Consult are available on ICBA’s “Public Opinion of Community Banks” dashboard.

About ICBA

The Independent Community Bankers of America® creates and promotes an environment where community banks flourish. ICBA is dedicated exclusively to representing the interests of the community banking industry and its membership through effective advocacy, best-in-class education, and high-quality products and services.

With nearly 50,000 locations nationwide, community banks constitute roughly 99 percent of all banks, employ nearly 700,000 Americans and are the only physical banking presence in one in three U.S. counties. Holding nearly $5.9 trillion in assets, over $4.9 trillion in deposits, and more than $3.5 trillion in loans to consumers, small businesses and the agricultural community, community banks channel local deposits into the Main Streets and neighborhoods they serve, spurring job creation, fostering innovation and fueling their customers’ dreams in communities throughout America. For more information, visit ICBA’s website at www.icba.org.

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