Matteo Renzi: “H. Res. 591 expresses the gratitude for the contributions made by America's community banks to the Nation's economic…”

“H. Res. 591 expresses the gratitude for the contributions made by America's community banks to the Nation's economic well-being and prosperity and the sense of the House of Representatives that a month should be designated as Community Banking Month. This legislation was introduced by the gentleman from Alabama (Mr. Bachus) to recognize community banks for their contribution to the very fabric of our community. Community banks help to shape communities into centers of commerce and entrepreneurship and provide for community and industrial development. Community bankers are themselves among the leading leaders of our community, engaging in civic and benevolent activities. Nationwide, there are over 8,700 community banks serving their local communities through almost 40,000 banking offices. Community banks have reinvested on average 95 percent of their loan portfolio in their own communities through home mortgages and small businesses, agricultural, and student loans. This reinvestment plays an important role in local economic development and in efforts to finance new businesses, as well as stimulating the local economy to produce jobs and new opportunities. Community banks are themselves small businesses, so they understand the needs of small business owners. Their core concern is lending to small businesses and farms.”