As an expert in the banking industry, I have seen firsthand the importance of location when it comes to banking. Each county in the United States has its own unique banking landscape, and Rockingham County, New Hampshire is no exception. In this article, we will delve into the current state of banks in Rockingham County and explore why this county is a hub for financial services.
The Significance of Banking in Rockingham County
Located in the southeastern corner of New Hampshire, Rockingham County is home to over 300,000 residents. It is a popular tourist destination, known for its picturesque beaches and historic towns.The county also boasts a strong economy, with a diverse range of industries including healthcare, education, and manufacturing. With such a thriving economy, it's no surprise that banking plays a crucial role in Rockingham County. From personal banking services to business loans and investments, the county's banks provide essential financial services to individuals and businesses alike.
The Number of Banks in Rockingham County
So, just how many banks are located in Rockingham County? According to data from the Federal Deposit Insurance Corporation (FDIC), there are currently 27 banks operating in the county. This includes both national and state-chartered banks, as well as credit unions. Out of these 27 banks, 14 are headquartered in Rockingham County itself. The remaining 13 are based in other counties but have branches or offices located within Rockingham County.The Top Banks in Rockingham County
While all banks play an important role in the county's economy, some have a larger presence than others.Here are the top 5 banks in Rockingham County, based on total assets as of 2021:
- TD Bank - With over $1.3 billion in assets, TD Bank is the largest bank in Rockingham County. It has 10 branches located throughout the county, making it easily accessible for residents and businesses.
- Salem Co-operative Bank - This local bank has been serving the community since 1892 and currently has over $1 billion in assets. It has 6 branches located in Rockingham County.
- Bank of New Hampshire - With over $900 million in assets, Bank of New Hampshire is another major player in the county's banking industry. It has 5 branches located in Rockingham County.
- Meredith Village Savings Bank - This community bank has been serving New Hampshire since 1869 and currently has over $800 million in assets.
It has 4 branches located in Rockingham County.
- Merrimack County Savings Bank - While this bank is based in Merrimack County, it has a strong presence in Rockingham County with 4 branches and over $700 million in assets.
The Impact of Online Banking
In recent years, online banking has become increasingly popular, allowing customers to manage their finances from the comfort of their own homes. This trend has also been seen in Rockingham County, with many banks offering online banking services to their customers. According to a survey by the American Bankers Association, 73% of Americans now use online banking services. This shift towards digital banking has also led to the closure of some physical bank branches, as more customers opt for online transactions. However, this does not mean that traditional banking is becoming obsolete. In fact, many customers still prefer to have a physical branch to visit for their banking needs.This is especially true for small businesses, who often require more personalized services and face-to-face interactions with their bankers.
