Industry perspectives – U.S. community bank market report
Community banks are expected to report far fewer losses than previously expected, according to S&P's annual U.S. Bank and Community Bank Market Reports.
Actions taken by banks and the government to mitigate COVID-19’s economic impact have helped prevent credit deterioration, while adding excess cash.
“The banking industry’s swift response to the economic crisis created by the pandemic has offered considerable support to many Americans and stands in stark contrast to the last recession. Banks have been part of the solution, not the problem.”