We’re proud to have GRB President and CEO Philip Pecora interviewed in the Rochester Beacon about the competitiveness of community banks.
![Phil Pecora, president and CEO Leadership Team Genesee Regional Bank GRB](https://www.grbbank.com/wp-content/uploads/Phil-Pecora-e1563825162239.jpg)
Of particular note, the article points out that smaller banks are actually outpacing the growth of larger institutions:
“Despite the size differential, the smaller banks—which make up 92 percent of FDIC-insured institutions—continue to do well as a group. As of Sept. 30, community banks nationwide reported a total net income of $6.9 billion, a 7.2 percent increase from the same point in the previous year. By contrast, all FDIC-insured institutions reported a 7.3 percent decline in income during that period.”
“Our competitive advantage is that we’re local, and that we have a keen interest and knowledge of our local markets,” says Philip Pecora, president and CEO of Genesee Regional Bank. “Within that, we just feel that we can provide a higher level of service, both on the commercial banking side and on the residential mortgage side, and also retail banking.”