Community Banks Weathering Crisis

Citigroup's announcement that it made money during the first two months of 2009 is welcome news on Wall Street, which has been a good-news-free zone for weeks on end. And while Citi's CEO said the bank is operating at a profit, which led the Dow to surge 300 points by midday, it's pretty obvious that for the rally to sustain itself, consumer sentiment is going to have to change.

What also needs to change is consumer perception of large banking institutions. People aren't going to easily forget corporate retreats on the taxpayer dime and executive bonuses for executives who oversaw the near collapse of venerable institutions. But what's been bad for big banks has been good for community banks, according to a report from the Independent Community Bankers of America.

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