Hartnack of US Bank stated that his bank had endeared itself to the customers in many places where it had set up branches over the past few years. It was confident of repeating its performance in this region of Chicago although it will never be thought of as the old familiar bank standing just behind the corner. He explained that it is not possible for a mega firm to get the same amount of affection that a local bank enjoyed and enjoys. He added that the idea of local banking has become anachronistic as most the customers are now banking online.
Hartnick also pointed out to the concentration of FBOP in the Chicago region. But US Bank spreads its donations across its 3,000 branches across the nation. US Bank, being a public trading entity has to think about its shareholders who would definitely not be happy if 20% of its profits were diverted towards donations and charity. There would perhaps be a lowering of the donation amount but all the commitments made by Park National would not be totally ignored. Perhaps no new commitments would be made until the balance in numbers is regained.
The policy being followed by US Bank is generating anger in the Chicago region because of its miserly attitude towards community welfare in comparison to the previous private bank - Park National. The allegation has been brought against the bank by Jackie Leavy of Coalition to Save Community Banking that the intentions of the bank is not transparent. For example it has taken over the non-profit section of Park National that deals with rehabilitation of houses but it has not said how much dollars it is going to earmark for it.
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