Just Called to Say Hi

Part of our research has been to visit community banks under FDIC scrutiny.  In a town of less than 3,000 people, a bank staff of 30, a management team of 6, and many shareholders, the bank is the community.  When we walked in the lobby, tellers and staff alike greeted customers by name.  On a rainy day, that's where the farmers hang out.

FDIC Exposer was chatting with some of these community bankers last night when Harry (not his real name of course) received a message scrawled on a piece of paper:

Cheryl Herman, teacher 30 years ago.  Lives in Tuscaloosa.

He called her back, and after a lengthy telephone conversation with Ms. Herman, Harry told us the story.  Long ago, Ms. Herman (also not her real name) and her grandmother came into the bank.  Because the grandmother had gotten a loan from Harry once upon a time, she asked to see Harry so her granddaughter could get a loan.  Now Harry hadn't made a loan in years, but he sat down with them, no questions asked.

Ms. Herman wanted to be a teacher, and she needed the loan to get her degree.  She graduated several years later and mentioned to Harry that she was looking for a teaching position.  Harry knew the superintendent of the local school, asked if anything was available, and voila!  Ms. Herman taught high school English for eight years there, and by all accounts she was a phenomenal teacher.  She married a military man who was eventually stationed in another country.  While they were there, Ms. Herman taught English as a second language.

Thirty years and twenty-one grandchildren later, Ms. Herman called Harry at home just to say hi.  They hadn't spoken since she had moved away, but Harry knew exactly who she was.

Community bankers have tons of feel-good stories like this.  We post this not to be all warm and fuzzy, but to give a quick glimpse at what we're losing.  It's more than economics.