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Olson on the competitive edge of community banks

In the speech 'The competitive edge of community banks' given on 6 May Mark Olson of the Federal Reserve said the wave of consolidation in the U.S. banking industry hasn't led to the extinction of smaller banks.

Speaking at a banking structure conference at the Chicago Federal Reserve Bank, Olson said community banks had a record-setting year for profits in 2003 despite "the significant negative factors at work throughout much of the year." "Community banks continue to thrive by providing retail

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