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2013 Community Banking Industry Outlook Survey:

Encouraging outlook moves beyond regulation

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2 / 2013 Community Banking Industry Outlook Survey

Contents

Optimism emerges amid regulatory acceptance 2

Survey highlights 3

Looking beyond existing hurdles 4

Regulatory change embedded in business 8

A closer look at M&A activity 12

Spending more on IT 15

Mobile banking and social media 19

The issue of cyber security 22

Conclusion 23

Demographics and methodology 23

Optimism emerges amid regulatory acceptance I am pleased to present KPMG LLP’s 2013 Community Banking Outlook Survey, which provides candid perspectives and insights from more than 105 CEOs and other senior executives of regional and community banks. This report includes both a snapshot of current conditions and impressions of what the future may hold for this sector.

It is not surprising that navigating regulatory change remains a dominant theme throughout our survey responses. Yet, these responses also signal an acceptance to regulatory change that has enabled more community banks to move forward with a rising sense of optimism. Although facing the same regulatory constraints, community banks indicate they have embedded the necessary changes into their processes and are now looking to move on and seize new opportunities for growth.

However, that’s not to lessen the impact regulation continues to have on this sector. Community bank executives in our survey acknowledge that regulatory change and compliance requirements are still very much a factor in everything they do. They fully recognize the regulatory barriers in their way, and cite specific cause for concern in relation to growth, business model strategies, operational costs, time, and resources. Yet, by building it into their daily processes, they are increasingly spending more time focusing on ways to generate new revenue sources and grow their existing customer base.

After years of reducing costs to maintain the bottom line, community bankers are seeking top-line growth through new products, services, and strategies. They are looking to grow the business and invest more in information technology by upgrading infrastructure, enhancing the use of data analytics, and utilizing mobile technology and social media to improve service offerings and better connect with customers. They are realizing that technology continues to rapidly alter the competitive landscape and there are new market entrants changing consumer expectations. In essence, community banks that embrace technology as a means to better interact with and serve customers and meet their evolving needs and habits can win market share.

This year’s survey also reveals a renewed interest in mergers and acquisitions, but actual deal completion remains a challenge. Skepticism over the quality of assets of intended targets as well as the discrepancies between bid and ask prices are key factors compounded by the backdrop of a challenging regulatory environment. Again, despite such obstacles, optimism prevails as 65 percent of the community banking executives in this year’s survey believe it is likely their bank will be involved in a M&A transaction over the next 12 months.

On behalf of KPMG, I would like to thank those who participated in this survey. I hope the findings are useful to you in addressing market challenges and opportunities. I also welcome the chance to discuss this study and its implications for your business in the year ahead.

John Depman National Leader for Regional and Community Banking KPMG LLP

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2013 Community Banking Industry Outlook Survey / 3

Survey highlightsRising optimism on revenues Despite a challenging market and lasting regulatory pressures, community bank executives have high expectations for the year ahead. Two-thirds of survey respondents predict an improved economic outlook over the next year, and 85 percent believe they will achieve higher revenues. Also, 38 percent believe revenue increases will be within the 6-to-10 percent range, while another 15 percent think they will be even higher.

Moving beyond regulation While regulation still poses many challenges for the banking sector, community bankers indicate an acceptance of the evolving regulatory landscape and have embedded such changes into their processes. In fact, only 15 percent of the executives surveyed said that navigating regulatory changes would require the most time, energy, and resources from

management this year compared to 27 percent last year. And while 42 percent of respondents cite regulatory and legislative pressures as a primary obstacle for growth, it has declined from the 47 percent that said so in 2012.

Seeking M&A opportunities Community bank executives believe that mergers and acquisitions are a viable option in the current environment if the right fit can be found. Nearly two thirds (65 percent) of survey respondents expect their community bank to be involved in a merger or acquisition over the next year as either a buyer or seller. They cite the main drivers to complete a deal as regulatory reform, geographic expansion, and access to new markets. Meanwhile, the existing balance sheet issues of a target bank are viewed as the greatest impediment to deal completion.

Spending more on ITInformation technology (IT) remains a key priority for most banks surveyed as they seek to remain relevant in an increasingly competitive marketplace. Sixty-one percent of community banking executives said they would increase capital spending over the next year, with IT (46 percent) being the top area of investment. Mobile banking and payments (40 percent) and leveraging data to enhance customer development (22 percent) were named as the most important IT-related projects pertaining to customer growth over the next year.

Staying independent at $1 billionIn today’s market environment, more than three-fourths (77 percent) of the community bank executives surveyed believe the minimum asset level a community bank must achieve to remain independent is at least $1 billion or more.

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Looking beyond existing hurdlesThe regulatory environment continues to weigh heavily on the banking sector, but community bank executives are looking beyond the cost and complexity of regulatory hurdles in an effort to seize new opportunities for growth. This is evident by expectations of a brighter economic outlook and positive revenue projections in the year ahead.

Economic outlookCommunity bank executives are predicting better economic times will prevail. Sixty-six percent of respondents believe the economy will improve over the next year, which rose from 2012 expectations, when only 54 percent anticipated economic improvements.

Q: A year from now, what are your expectations for the U.S. economy?

66%

22%

12%

201354%

33%

13%

2012

Better next year About the same Worse next year

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Revenue growth driversWhile the executives surveyed acknowledge that regulation remains a strain, they are focusing their efforts on a variety of products, services, and strategies to help drive growth. Asset and wealth management is once again at the top of the list of key drivers of revenue growth at 15 percent. But the question remains of whether this banking segment is really the revenue generator it was once thought to be for community banks. Since many community banks may acquire small asset managers as an entry into the business, they may soon realize that the actual margins of profitability may not materialize due to business model and pay scale differences.

Q: Which of the following areas do you believe will be the biggest driver of your company’s revenue growth in the next 1–3 years?

Revenues When asked to describe their revenue expectations a year from now, the vast majority (85 percent) of community banking executives predict that revenues will increase while 11 percent expect revenues to be flat and only 4 percent anticipate a decline in revenues.

Increase

About the same

Decrease

11%

4%

% of respondents

% of expected increase

% of respondents

% of expected decrease

11%

10%9%

9%

9%

8%

8%

6%

2%

13%

15%

2013

25%

18%23%

30%

16%

10%9%

40%

2012

Asset and wealth management

New market segments (e.g., underserved)

Residential mortgages and consumer loans

Emerging technologies (mobile payments, social media)

Broker-dealer services

Business model restructuring

Cross-selling services

Commercial and industrial loans

M&A activity

Deposit fee income

Commercial mortgages

Q: What do you expect your bank’s revenue to be like one year from now?

85% 3 20+

12 11–20

38 6–10

32 1–5

0 20+

2 11–20

1 6–10

1 1–5

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Future headcountCommunity bank executives expect to add more staff over the next year. Fifty-six percent believe they will increase headcount, which mirrors 2012 expectations. Yet, a greater number of respondents predict a decline in headcount this year than they did last year, which may be representative of operational efficiencies offered by technology advancements.

Q: How do you expect your company’s U.S. headcount to change one year from now?

56%

18%

26%

201355%

27%

18%

2012

Increase About the same Decrease

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Regulatory change embedded in business The regulatory environment has clearly become a way of life for community bankers. While 27 percent of executives cited navigating regulatory changes as a top initiative consuming the focus of management last year, only 15 percent of respondents said so this year, further signaling a growing acceptance of the regulatory environment. Entering new markets also is a high management priority according to 15 percent of respondents, followed by business model changes (13 percent) and reducing costs (13 percent).

Q: What initiative do you expect to undertake over the next year that will consume the most time, energy, and resources, from a management perspective?

13%

13%

4%

12%

10%

9%

5%4%

15%

15%

2013

12%

12%9%

16%

10%

7%3%

4%

27%

2012

Entering into new markets

Navigating significant changes in the regulatory environment

Significant changes in business model

Significant cost reduction initiatives

Merger/acquisition

Significant improvement of operation processes and related technology

Strategic divestiture of current assets

Significant investment in organic growth1

Significant changes to financial processes and related technology

Improve enterprise risk management programs/processes

1 (new product development, pricing strategies, geographic expansion)

Top initiatives on the mind of management

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Biggest impact on business In fact, of the types of government regulations listed below, 39 percent of respondents believe that capital and liquidity requirements from various regulatory reform initiatives, such as the Dodd-Frank Act and Basel III, are having the most impact on their business.

Hampering growth Not surprisingly, the burdens and pressures of regulation and legislation are still a prime impediment to growth over the next year, according to 42 percent of survey respondents. Notably, this represents a decline from 47 percent in 2012. Risk management issues also remain a top growth barrier cited by 27 percent of executives versus 23 percent last year. Meanwhile, access to and managing capital jumped to 25 percent this year up from just 9 percent last year, which is likely the result of more stringent capital and liquidity requirements affecting the banking sector.

Capital and liquidity requirements from various regulatory reform initiatives2

Federal supervisory changes3

Consumer protection

Limitation of federal preemption authority for national banks and thrifts

FATCA

Durbin Amendment

Regulatory and legislative pressures 42%

47%

Risk management issues 27%

23%

Access to and managing capital 25%

9%

Employee-related costs 21%

7%

Interest rate pressures 21%

24%

Increased taxation 19%

24%

Lack of qualified workforce 16%

5%

Staying on top of emerging technologies 11% 11%

Lack of customer demand 9% 9%

Performance of commercial/industrial market 5%

9%

Performance of residential real estate market 5%

13%

Lack of creditworthy borrowers 5%

16%

Performance of commercial real estate market

3% 4%

Other 1%

9%

Q: Which of the following are the most significant growth barriers facing your company over the next year?

Q: In the course of implementing the regulations below, which is hindering your business the most?

39%13%

33%

9% 3%3%

(Multiple responses allowed)

2 Reform such as the Dodd-Frank Act and Basel III

3 Such as powers and duties of OTS being transferred to OCC; changes in powers of FDIC, Fed, and creation of CFPB

2013 2012

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Preparing for Basel III Nearly half (45 percent) of the community bank executives surveyed said they are ready to manage the impact of Basel III, while the remaining respondents said they are either not ready or unsure of its impact and still have to conduct an appropriate analysis.

Threats to business modelMost of the community bank executives surveyed (61 percent) believe political and regulatory uncertainty poses the biggest threat to their business model. This is followed by 30 percent that cite new market entrants, such as PayPal, as a top threat and 20 percent that indicate customer and employee mobility will have the most negative impact.


Operational changesLast year, 88 percent of community banks said that they had started re-examining or planned to re-examine their operating model. This year, we asked executives to describe how their operating model had changed in response to economic and regulatory challenges. More than one-third (38 percent) of respondents said it drove them to expand to a new or different customer segment(s) while 36 percent said it resulted in the re-engineering of internal processes and systems.


Yes

No

Not sure, have not completed analysis yet

Q: Is your bank prepared to manage the impact of Basel III (assigns higher risk-weightings on high-volatility commercial real estate and past due loans, increase in number of deductions from regulatory capital, greater emphasis on common equity, etc.)?

Q: What issues pose the biggest threat to your business model?

Q: What aspects of your bank’s operating model changed as a result of the economy and regulatory pressures?

45%

29%

26%

Political/regulatory uncertainty 61%

Losing share to new market entrants (PayPal, Walmart, etc.) 30%

Customer/employee mobility 20%

Disruptive technologies 17%

Lack of a qualified workforce 17%

Ability to find capital 6%

Inability to find visionary leadership 3%

Expanding to a new or different customer segment(s) 38%

Re-engineering internal processes and systems 36%

Offering new products to customer base 28%

Expanding in new geographies 24%

Divesting businesses 20%

Enhancing or expanding mobile delivery channel 18%

We have not yet started re-examining the operating model 5%

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Regulatory impact on operating costsAnd, as expected, meeting regulatory compliance requirements has had a significant impact on operating costs. Seventy-four percent believe the resulting cost increases range between 5 and 20 percent. Meanwhile, 6 percent of respondents report skyrocketing operational cost increases of more than 30 percent or more due to meeting regulatory compliance requirements.

Business divestitureCommunity banks are also narrowing their business focus as a result of the current regulatory and market climate. The top three business divestitures cited by survey respondents include student lending (30 percent), residential mortgages (23 percent), and asset and wealth management (23 percent).

Q: Approximately what percentage of your total operating costs is driven by regulatory compliance requirements?

Q: What businesses or products and services are you considering divesting in light of current regulatory and market conditions?

15%5%6%

37%37%

Less than 5%

5–10%

11–20%

21–30%

31% or more

Student lending 30%

Residential mortgages 23%

Asset and wealth management 23%

Credit cards 18%

Highly leveraged transactions (i.e., leveraged buyout) 15%

Equipment financing/leasing 14%

None 12%

Construction lending 10%

Other 3%(Multiple responses allowed)

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A closer look at M&A activityWhile predictions for a consolidation wave to occur in the banking sector persist, many have yet to complete a deal. More than one-third of survey respondents (37 percent) think it is a result of a target’s balance sheet issues, while 32 percent believe it is due to anticipation of regulatory actions and related issues. Other factors affecting M&A include the discrepancy between bid and ask prices and stock prices.

Likelihood of M&A participationDespite such challenges, nearly two-thirds of the community banking executives surveyed believes a potential deal may be in their future. Forty-percent of respondents think it is likely their bank will be involved in a merger or acquisition as a buyer over the next year. Another 25 percent believe it is more likely for their bank to be involved as a seller in the transaction. This is an increase from last year (15 percent) which closes the gap between buyers and sellers, and brings the industry closer to a deal making environment.

Targets' balance sheet issues

Anticipated regulatory actions/issues

Sellers' demands too high

Buyers' offers are not reasonable

Stock price

Involved in M&A as buyer

Involved in M&A as seller

No plans for M&A activity

Unsure/don’t know

Q: What do you believe has been the greatest impediment to M&A in the banking industry?

Q: What is the likelihood that your bank will be involved in a merger or acquisition in the next year?

37%

14%

32%

13%4%

2013

33%

16%

32%

19%

2012

40%29%

25%

6%

2013 42%34%

15%

9%

2012

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Potential M&A drivers down the roadMeanwhile, 31 percent of survey respondents believe that regulatory reform will continue to be a key driver of M&A in the future, followed by new geographic markets (30 percent) and access to new resources (29 percent).

Q: Which of the following do you think will be among the most important drivers of alliances, mergers, and acquisitions in the industry?

Seeking the right fitWhen it comes to targeting a potential deal candidate, 34 percent of community bank executives will look at the customer base, while 33 percent say geography will be a key factor.

Q: If your bank is planning an M&A transaction in the next year, what criteria will be used in selecting your target?

Regulatory changes/reform 31%

Access to new geographic markets 30%

Access to new resources 29%

Access to new technology and products 28%

Lack of organic growth opportunities 18%

Debt 15%

Pension and healthcare cost pressures 12%

Product synergies 10%

Employee payroll expense 8%

Nature of customer base 34%

Geography 33%

Asset size 28%

Opportunity for cost savings 22%

To offer new products to customer base 14%

N/A 22%



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Targeting assetsAccording to 28 percent of respondents, community banks with an asset level of $1 billion to $3 billion are seen as the most attractive target for M&A.

Remaining independent Interestingly, more than three-fourths (77 percent) of the community bank executives surveyed believe a community bank must achieve an asset level of at least $1 billion or more to remain independent in the current market environment.

25%

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Q: In your opinion, what is the minimum asset level a community bank needs to remain independent?

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Spending more on IT

Q: In which areas do you expect your company to increase spending the most over the next year?

Capital spendingSixty-one percent of survey respondents predict that their bank’s capital spending will increase over the next year, with the majority (37 percent) expecting the increase to be within the 1-to-5 percent range.

Increase

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0 20+

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7 1–5

Q: What is the outlook for capital spending by your bank over the next year?

Information technology 46% 50%

New products or services 37% 34%

Regulation/control environment 24% 21%

Acquisition of a business 19% 23%

Business model transformation 15% 11%

Geographic expansion 15% 20%

Expanding facilities 14% 21%

Advertising and marketing/branding 13% 18%

Employee compensation and training 11% 15%

Research and development 9% 5%

Green/sustainability initiatives 4% 1%

Nearly half (46 percent) of the executives surveyed expect spending increases to mostly focus on IT, followed by new products and services (37 percent) and the regulatory and control environment (24 percent). These responses closely mirror 2012 results.

(Multiple responses allowed)2013 2012

61%2 20+

9 11–20

13 6–10

37 1–5

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IT focus on customer growthThe growing importance of customer-centric banking strategies is evident as 40 percent cite mobile banking and payments as the IT-related project they will focus on most for customer growth.

Q: Which of the following IT-related projects will be the most important focus for your bank in the next year as it relates to customer growth?

Attractive customer segmentsIn terms of growth, 23 percent of survey respondents believe that consumers nearing retirement age represent the most attractive growth opportunity for their bank.

Q: Which of the following customer segments present the greatest growth opportunity for your bank?

Branch of the futureCommunity bankers are looking at redesigning their branch layout (36 percent) and increasing the use of flexible staffing (35 percent) as key elements of future strategies for their bank branches.

Q: What strategies is your bank considering or utilizing for your branch of the future?

40%

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Mobile banking/paymentsLeveraging data to enhance customer developmentSocial mediaInvesting in online banking platform (for laptops/desktops)Purchasing more branchesInvesting in more ATM locations

Consumers nearing retirement age (50–65)Mass affluent4

Young rising professionals5

Underbanked6

Commercial and industrial Retirees

Unbanked7

Commercial real estate

Redesigning layout to increase customer interaction 36%

Increasing the use of flex staff to realize efficiencies during peak hours 35%

Reducing footprint 32%

Integration of mobile applications with branch infrastructure 31%

Kiosks with virtual tellers 30%


4 Top 10 percent of income earners 5 Upwardly mobile young professionals who earn good income, about to buy first home, etc. 6 Consumers without access to incremental credit 7 Consumers with no transaction account

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IT focus on infrastructure and complianceThe ability to leverage data more effectively to comply with regulatory requirements is identified as the most important IT-related project pertaining to infrastructure and compliance over the next year by 35 percent of the executives surveyed. Thirty percent cite improving IT infrastructure and applications through platform simplification as requiring the most focus.

Q: Which of the following IT-related projects will be the most important focus for your bank in the next year as it relates to infrastructure and compliance?

Growing awareness of data analytics When asked to describe the organizational maturity of their bank regarding the usage of data analytics, most of the survey respondents (35 percent) rated their bank as average while 28 percent said they are rapidly moving toward high analytical literacy.

Q: Which of the following best characterizes the data analytics maturity of your company?

35%

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Leveraging data more effectively for regulatory requirements

Platform simplification (IT infrastructure, applications)

Investing in mobile banking/payment platform (for mobile devices)

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Average to low analytical literacy

No formal data analytics capabilities

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Cloud adoptionCloud is transforming business models across many industries at a rapid rate due to its many benefits, which include significant cost savings, greater flexibility, and instant scalability. More community banks are exploring cloud opportunities as indicated by 83 percent of survey respondents, who say they have adopted or plan to adopt cloud technologies in the future.

Q: When it comes to cloud adoption, which of these statements is most true for your organization?

12%

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We have adopted cloud, and found it an easy integration into our business strategy and operations.

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We plan to adopt cloud, and believe we will easily integrate it into our business strategy and operations.

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We have no plans to adopt cloud.

Don’t know/N/A

Using data effectivelyAccording to 32 percent of the community bank executives surveyed, data analytics would be most helpful in acquiring customers, followed by competitive intelligence (30 percent) and operational excellence (29 percent).

Q: Considering the relevance of data and analytics at your company, which of the following items represent the best use of data and analytics in driving actionable insights?

Acquiring customers 32%

Competitive intelligence 30%

Operational excellence (operations, supply chain) 29%

Cross-selling additional products to existing customers 25%

Human capital 20%

IT infrastructure 18%

Government regulation 17%

Risk management 15%

Product positioning 13%

Finance 10%


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Mobile banking and social mediaCommunity bankers are increasingly embracing mobile banking and social media within the business strategies. More than two-thirds of survey respondents already offer bill pay via mobile banking, while 63 percent offer account balance views and 50 percent allow for money transfers.

Q: What types of mobile banking services do you currently offer?

When asked which mobile banking services they will add to their offerings over the next year, 30 percent of the executives surveyed said they plan to offer remote secure deposit as well as the ability to transfer money using a cell phone number or e-mail address.

Q: What types of mobile banking services do you plan to offer in the next year if not currently offered?

Bill pay 69%

Account balance viewing 63%

Transfer money between personal accounts 50%

Mobile payments 42%

ATM locator 41%

Alerts 40%

Remote secure deposit 36%

Transfer money using cell phone number/e-mail address 30%

Deals 14%

No mobile banking services offered 9%

Remote secure deposit 30%

Transfer money using cell phone number/e-mail address 30%

Mobile payments 27%

Bill pay 23%

Transfer money between personal accounts 23%

Account balance viewing 19%

Deals 18%

ATM locator 18%

Alerts 14%

Other 1%

No plans to offer any mobile banking services 17%



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Social media outlookSocial media is also gaining more popularity in community bank circles. Forty-two percent of respondents believe it is important and a productive way to interact with customers from time to time. Another 35 percent say it is an extremely important vehicle for interacting with their customers on a regular basis. Meanwhile, a smaller contingent of community bankers (11 percent) views it as not important to their business strategy at all.

Q: What is your bank’s view of social media today?

Current usageMore than half (56 percent) of survey respondents say they are using social media most for customer service, while 48 percent are using it for marketing, advertising, and public relations purposes.

Q: In what ways is your bank currently using social media?

35%

11%

12%

42%

It is extremely important. Social media is one of our most important platforms for interacting with customers.

It is somewhat important. We interact with customers from time to time via social media.

We do not use social media today, but we plan to in the future.

Not important.

Customer service 56%

Marketing/advertising/public relations 48%

Business development 30%

HR/Recruiting 27%

None of the above 12%

Other 1%


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Most popular platformMost survey respondents (59 percent) report that their bank is currently using Facebook to interact with customers, followed by LinkedIn (43 percent) and Twitter (33 percent).

Q: What social media platform(s) is your bank currently using?

Facebook 59%

LinkedIn 43%

Twitter 33%

YouTubeTM 6%

None 15%


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The issue of cyber security

15%8%

29%

48%

82%

8%

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7%

34%

15%21%

23%Extremely concerned

Moderately concerned

Slightly concerned

Not concerned at all

Yes

No

Unsure

More than once a day

Daily

Weekly

Monthly

Unsure

The majority (82 percent) of the community bank executives surveyed believe that the third-party vendors they use for cyber security have appropriate safeguards in place.

Despite the risks of cyber attacks compounding at an alarming rate, a high number (48 percent) of community bankers reveal they are only moderately concerned about their bank’s vulnerability of a cyber attack, while 29 percent are slightly concerned. Another 15 percent of respondents admit they are extremely concerned about cyber attacks. Notably, more than one-third of survey respondents are unsure of the frequency of cyber attacks against their bank.

Q: How frequently are you seeing attempted cyber attacks against your bank?

Q: How concerned are you that your bank may be vulnerable to a cyber attack?

Q: When working with third-party vendors, do you ensure they have the appropriate cyber security safeguards in place?

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ConclusionCommunity bank executives in this year’s survey reveal a true resilience and a growing sense of optimism as they concurrently manage the cost and complexity of regulatory reform and its negative impact on growth. Despite obvious regulatory challenges, community bankers foresee positive revenue projections for the year ahead and have a brighter outlook for the economy than last year. In their quest for growth, they are focusing on generating new sources of revenue through new products, services and strategies, as well as building size and scale by exploring the possibility of mergers and acquisitions.

Survey results show that most community bank executives plan on increasing capital spending over the next year, with an emphasis on investing more in IT-related projects. Some key areas of focus include upgrading infrastructure, enhancing the use of data analytics, and increasing the use of mobile technologies.

As the competitive landscape continues to unfold and new market entrants rapidly emerge, community bankers finally seem to be recognizing the critical need to embrace technology to meet changing consumer expectations. According to the survey results, many appear to be utilizing mobile, social media, and cloud technologies more than ever before to deliver services, enhance customer interaction, and improve efficiencies.

Demographics and methodologyKPMG’s 2013 Community Banking Industry Outlook survey was conducted in October 2013 and reflects the responses of 105 CEOs and other senior executives in the community banking industry. Based on asset size, 38 percent of respondents work for institutions with $1 billion to $5 billion in assets; 27 percent with $5 billion to $10 billion in assets; and 35 percent with $10 billion to $20 billion in assets.

About the AuthorJohn Depman is KPMG’s National Leader for Regional and Community Banking. With 25 years of experience in the financial services industry, John has extensive experience working with public companies in an audit and advisory capacity, and has assisted several clients to successfully complete debt offerings, initial public offerings, and mergers and acquisitions.

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YouTube is a trademark of Google, Inc.

The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.

The views and opinions from the survey findings are those of the survey respondents and do not necessarily represent the views and opinions of KPMG LLP.

© 2013 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in the U.S.A. The KPMG name, logo and “cutting through complexity” are registered trademarks or trademarks of KPMG International. NDPPS 222285

Contact us

John DepmanNational Leader for Regional and Community Banking T: 267-256-1631 E: [email protected]

John DerrickRegional and Community Banking Lead – North Central T: 312-665-2078 E: [email protected]

Michael FlynnRegional and Community Banking Lead – Pacific Southwest T: 213-955-8976 E: [email protected]

David GlassRegional and Community Banking Lead – South Central T: 214-840-2506 E: [email protected]

Randy LaszewskiRegional and Community Banking Lead – Mid South T: 615-248-5611 E: [email protected]

Michael OhlweilerRegional and Community Banking Lead – New England T: 716-796-6029 E: [email protected]

John ReganRegional and Community Banking Lead – New York/Metro T: 212-872-3350 E: [email protected]

Karen SaundersRegional and Community Banking Lead – Pacific Northwest T: 206-913-4496 E: [email protected]

Allen ShubinRegional and Community Banking Lead – Mid-Atlantic T: 267-256-2690 E: [email protected]

Becky SproulRegional and Community Banking Lead – Southeast T: 305-913-2763 E: [email protected]

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2013 community banking industry outlook survey€¦ · 4 / 2013 community banking industry outlook...

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