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Niche banks

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Niche banks
Smaller banks that cater to particular communities or certain industries. These banks have been thriving in the fallout from mega-bank mergers.
    
Banks that cater to and serve the needs of a certain demographic segment of the population. Niche banks typically target a specific market or type of customer, and tailor a bank's advertising, product mix and operations to this target market's preferences.
    
If considering a niche bank, it is important to make sure it is FDIC insured, and to ensure that it is a separately chartered entity and not affiliated with a bank where you might already have deposits. This is because the FDIC generally limits Deposit insurance to $100,000 per person per chartered Institution. FDIC is the Federal Deposit Insurance Corporation.
Posted by  Privatebanking.com
 
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