First National Bank of Durangos new president and CEO said he wont be changing much at the bank that, unlike many of its larger counterparts, has managed to weather the financial crisis without the help of government stimulus dollars.
I dont see a need to fix something that isnt broken, said Mark Daigle, who replaced former bank president and CEO Steve Short.
Though all banks sustained a collective black eye after the 2008 collapse of Wall Street, people have started to separate the community banks from the forces that caused the financial crisis, Daigle said.
Community banks have always been different from large, investment-style banks because they have a vested interest in doing what is best for the community, said Short, who will become chairman of the banks board of directors.
If things dont work out for large banks, they can go somewhere else, Short said. But this is our community; we have nowhere else to go.
Short said the bank focuses on establishing personal relationships with customers, and being flexible with their loan options has allowed them to differentiate themselves from larger competition.
Since he began at First National in 1983, the banks assets have grown from $65 million to $400 million today, Short said.
First National Bank was the first bank to open in Durango in 1882.