http://www.nytimes.com/2008/11/08/business/08bank.htmlORWELL, Vt. — Not much has changed over the years at the First National Bank of Orwell. Not the gilded chandeliers and teller’s booths with brass bars separating employees and customers. Not its view of the village green across the street. And most certainly not its ability to make loans, even as the big-city banks are cutting back.
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Paul O. Boisvert for The New York Times
Loans are up more than 22 percent this year at the First National Bank of Orwell, Vt.
Paul O. Boisvert for The New York Times
The bank still uses old-fashioned wooden coin trays.
Paul O. Boisvert for The New York Times
A safe holds documents at the bank, founded in 1832.
“Demand is up, there’s a tight credit market out there, and we benefit from having money available,” said Bryan Young, the vice president. “We’re very particular on what and who we take, and there’s no need to take anything less than solid credit.”
While many of the nation’s large and midsize banks are staggering under the weight of bad mortgages piled up during the housing boom, the First National Bank of Orwell, Vermont’s smallest bank, founded in 1832, is having its best year in recent memory. Loans are up 22.6 percent from a year ago, and deposits are up 7 percent in the same period, Mr. Young said. The bank has $36.5 million in assets.
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There are lots of small community banks in this country. I bank at one. It fits the community in a way a government bank never would