Why Bank Local?
I want to briefly touch on the advantages of community banking and provide an update on many of the successes and what RVCB is doing to differentiate our Bank and help strengthen our communities.
Like RVCB, well positioned community banks can compete with rates, products and technology. Knowing our customers, being able to make local decisions and provide strong customer service are also key differentiators for community banks.
Community banks must be competitive to remain relevant and serve our communities. Like any other business, we must manage our expenses carefully. RVCB’s low expense ratio gives us the flexibility to offer competitive rates and make investments in technology and other products & services that enhance our competitive positioning.
To ensure we are continually delivering a positive customer experience, our Bank conducts an anonymous customer survey about every 18 months. The results of these surveys have been overwhelmingly positive as is evidenced by our strong customer service and overall customer satisfaction ratings. Below are a few quotes from our most recent survey:
“I was banking at another bank and was not happy with their services or how I was handled as a customer. I am glad because it led me to RVCB.”
“They are always happy to help and pleasant when speaking on the phone. I now live in Arizona.”
“You are doing what bankers ought to be doing . Keep it up. I tell everyone I know, when the opportunity arises, to move over to RVCB.”
RVCB continues to steadily grow our deposit market share every year which reflects how our communities have responded to the banking experience we deliver. We continue to see new account movement coming our way from the bigger banks by new customers who appreciate the personal banking experience we deliver at RVCB. RVCB continues to make it easy to bank with us from just about anywhere with our online and mobile technology products which now includes our newest feature of Mobile Deposits!
By Banking Local you help to provide support to important local organizations in the communities where we all live and work. Supporting the community where we all live and work is also a key aspect of community banking. As RVCB has grown, we continue to increase our donations to local charities and organizations in the Yuba-Sutter, Grass Valley and surrounding communities – a pattern we expect to continue. We also have remarkable team members who donate their time, energy and leadership to numerous service clubs, non-profit organizations and in the support of charitable events – all of which strengthen our communities.
I continue to believe there is significant opportunity for well run local banks to adeptly serve their markets – and provide great service and nimble local decision making which seems to be increasingly valued by our customers.
For the banking industry, the last several years have been challenging as low interest rates have resulted in thinner margins and RVCB has not been immune from these trends. That said, our Bank has done quite well increasing our market presence in serving our communities. Our growth has more than offset the impact of decreasing margins and we have grown our profitability and capital base as a result.
It is very satisfying to provide solutions for our customers, offer growth opportunities for our team members, drive additional value for our shareholders and help strengthen our communities – and I see no reason these trends can’t continue!
As you can see, we are passionate about what we offer as an organization and how well-run community banks can compete and make a difference. In closing, please encourage someone you know to Bank Local with RVCB and as always, thank you for your continued support of our Bank!!