A central Kentucky financial advisor doesn’t anticipate two U.S. bank failures will signal concerns among area banks in the Commonwealth. Joule Financial Managing Director and UK Professor Quint Tatro said Kentucky banks tend to feature a different type of business plan.
“A lot of our banks in Kentucky are traditional small business loan banks with solid loan portfolios. Not a lot of deposits that are above the insured limit,” said Tatro.
Where concern arises, occurring to Tatro is when there are a lot of bank deposits over the uninsured amount of $250,000 and investments in that financial institution are down. Tatro said smaller Kentucky banks could be impacted by the cost of regulation and higher insurance which may lead to consolidation.
Here's the extended interview with Quint Tatro:
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