skip to Main Content
The Importance & The Benefits Of Local Independent Banks

The Importance & the Benefits of Local Independent Banks

Businesses around the world are becoming more aware of the impacts they have on communities, regions, countries, and sometimes even the whole world. The new ESG movement—Environmental, Social, and Governance—is funneling more and more money into conscious businesses. The founders of Troy Bank & Trust, however, set out from the very beginning to be a community-oriented bank. As a local independent bank, our mission is to increase the health and prosperity of Alabama’s people.

We don’t say this to toot our own horns. Our mission is something we genuinely believe in. We also believe that actions speak louder than words. That’s why we don’t take every chance we get to shout our every good deed from the rooftops. Our customers remain loyal because they know firsthand what we offer. However, it’s important to, at times, reflect on your work. 

Today, we’ll take a look at how local independent banks such as Troy Bank & Trust help our neighborhoods and towns flourish.

The Importance of Local Independent Banks

The Dwindling of Local Independent Banks

There was once a time when nearly all banks were local. Prior to The Great Depression, the local bank functioned as the center of all commerce in any given town. As the years went by, regional banks took over, giving way to the big box banks we have today. Some of the big box banks, such as JP Morgan Chase, date back to the 19th century.

The Importance of Local Independent Banks

Today’s big-box banks have one motive: profit. They serve their shareholders, their executives, and, well, their shareholders. Local independent banks such as Troy Bank & Trust require profits to sustain operations.

It’s no secret that customers can’t even get personal or small business loans with their own bank. The same goes for the small businesses that drive America’s economy. Without local independent banks, the ability to run a business or draw on credit would be exclusive to the wealthy.

The ability to create new businesses and leverage credit to one’s advantage is the pillar of American economic mobility. With Troy Bank & Trust, loans are available to all clients. Our personal and business loan specialists will work with you to find a rate that you can afford.

The Benefits of Local Independent Banks

Our economy needs banks willing to lend to small businesses and individuals. But that’s not the only benefit we provide. Local independents such as Troy Bank & Trust offer countless benefits, both tangible and intangible. These benefits include:

1. Supporting community organizations

2. Customized, personal service

3. Refraining from gambling and speculating with customer money

4. Providing the same products as bigger banks

The fourth benefit is crucially important. Big box banks want you to believe that they provide a service that smaller banks can’t. In reality, it’s the opposite. Local independent banks provide everything big box banks do, and more.

Troy Bank & Trust provides the same advanced services (such as mobile apps), the ability to transfer through Zelle, and wealth management services that are becoming ever more necessary in a digital world—and that’s just personal banking alone.

In addition to these modern services, Troy Bank & Trust also recognizes you as a living, breathing customer. With big box banks, you are simply a number. Ultimately, that’s the most important reason for banking with us. We offer you a tailored service that fits precisely what you need. Give us a call (and we’ll actually pick up) or visit us online today to learn more about banking with Troy Bank & Trust.


Troy Bank & Trust is Alabama’s leading local independent bank

As a local independent bank, we provide every service that bigger banks provide—only more. On top of modern services such as mobile banking and instant transfers, Troy Bank & Trust offers customized service that recognizes your existence as a unique entity. We believe in the little things, such as answering phone calls without exorbitant wait times and providing services such as personal and business loans—or, perhaps these things aren’t so little after all. Find out more by visiting Troy Bank & Trust here, or reach out to us by phone at 334-566-4000 or 888-258-8769.