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Letter to the Editor: Separate honest banking from Wall Street scams
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From LaVern F. Isely Monroe To the editor: The Oct. 21-27, 2013 issue of Bloomberg Businessweek wrote an exceptional article about rural banks written by Brendan Greeley titled "Rural Banks Know Something Big Banks Don't." I quote: "The FDIC uses $1 billion in assets as a cutoff for its definition of a community bank, the vast majority of which operate in three counties or fewer. And while these smaller institutions have lost customers to larger banks, the decline has been far less dramatic in rural counties, where community banks still hold 70 percent of deposits.