Expressing the gratitude of the House of Representatives for the contributions made by America's community banks to the Nation's economic well-being and prosperity and the sense of the House of Representatives that a month should be designated as "Community Banking Month".

Mr. Speaker, I yield myself such time as I may consume.

Mr. Speaker, I rise in support of H. Res. 591, a resolution recognizing the contributions of community banks to the Nation's economic well-being and prosperity and expressing the sense of the House that a month should be designated as Community Banking Month.

Community banks play a vital role for our country. Of the 7,712 commercial banks in operation today, all but 419 are community banks having assets of less than $1 billion. Community banks are known for being close to their customers and provide the leadership for many civic endeavors. These bankers are able to make loan decisions locally and reinvest local deposits into their local communities.

Community bankers also are active in helping people understand the sometimes complex nature of the banking business. Many community bankers participate in efforts to help consumers

know the dangers posed by identity thieves. In Georgia, for example, these bankers made presentations to almost 50,000 of our citizens, giving them tips on how to avoid becoming a victim. These same bankers also helped educate our citizens on how to apply for a business loan, how to choose banking as a career, and how to get a mortgage refinanced.

While the total number of community banks in the United States is decreasing due to consolidation, new community banks are proliferating. In fact, 1999 witnessed the highest number of new community banks formed in nearly a decade, with 268 new charters reported.

Community banks focus attention on the needs of local families, businesses, and farmers. They channel most of their loans in the neighborhoods where their depositors live and work. Community banks offer their customers services at attractive prices. For example, average rates for checking accounts and other depository services on average are 15 percent lower at small banks than at large, multistate institutions, according to the 2001 PIRG report.

They can offer nimble decisionmaking on business loans, because decisions are made locally. And because community banks are themselves small businesses, they understand the needs of small business owners. Their core concern is lending to small businesses and farms.

What does it mean to be a community bank? Community banking is a devotion to serving community customers and communities. They put people into homes, serve small businesses, and help them grow and prosper. They provide student loans and set up retirement plans for their customers.

Mr. Speaker, community banks and the more than half a million people who work for them truly deserve our recognition for their contributions to the Nation's economy and well-being.

Mr. Speaker, I yield back the balance of my time.

Mr. Speaker, I ask unanimous consent that all Members may have 5 legislative days within which to revise and extend their remarks on this legislation and insert any extraneous materials on the resolution.

Mr. Speaker, I yield myself 5 minutes.

Mr. Speaker, H. Res. 591 expresses the gratitude for the contributions made by America's community banks to the Nation's economic well-being and prosperity and the sense of the House of Representatives that a month should be designated as Community Banking Month. This legislation was introduced by the gentleman from Alabama (Mr. Bachus) to recognize community banks for their contribution to the very fabric of our community.

Community banks help to shape communities into centers of commerce and entrepreneurship and provide for community and industrial development.

Community bankers are themselves among the leading leaders of our community, engaging in civic and benevolent activities. Nationwide, there are over 8,700 community banks serving their local communities through almost 40,000 banking offices.

Community banks have reinvested on average 95 percent of their loan portfolio in their own communities through home mortgages and small businesses, agricultural, and student loans. This reinvestment plays an important role in local economic development and in efforts to finance new businesses, as well as stimulating the local economy to produce jobs and new opportunities.

Community banks are themselves small businesses, so they understand the needs of small business owners. Their core concern is lending to small businesses and farms. Studies have shown that they are the primary advisors to small businesses.

Community banks have made nearly 3,160,000 loans to small businesses, and over 720,500 loans to small farms.

Mr. Speaker, on behalf of the community banks and in recognition of their great contribution to our local communities and to our small businesses around the country.

Mr. Speaker, I reserve the balance of my time.

Mr. Speaker, I yield back the balance of my time.

Mr. Speaker, on that I demand the yeas and nays.

Mr. Speaker, I rise today in strong support of H. Res. 591, a resolution expressing the gratitude of the House of Representatives for the contributions made by America's community banks to the Nation's economic well-being and prosperity and the sense of the House of Representatives that a month should be designated as ``Community Banking Month''. Community banks are the lifeblood of our local economies, and this is an appropriate way to recognize their contribution.

Mr. Speaker, I am including for the record correspondence between the gentleman from Virginia (Mr. Davis) and myself regarding the jurisdictional interest of the Committee on Government Reform. I appreciate his efforts in permitting this resolution to reach the floor quickly.

House of Representatives,

Committee on Government Reform,

Washington, DC, June 21, 2004.

Hon. Michael G. Oxley,

Chairman, Committee on Financial Services,

House of Representatives, Washington, DC.

Dear Mr. Chairman: Thank you for consulting with the

Government Reform Committee regarding H. Res. 591, expressing

the gratitude of the House of Representatives for the

contributions made by America's community banks to the

Nation's economic well-being and prosperity and the sense of

the House of Representatives that a month should be

designated as ``Community Banking Month.'' As you know, the

Committee on Government Reform has jurisdiction over holidays

and celebrations.

Because of your willingness to consult with my committee, I

will not seek a sequential referral of the resolution to the

Committee on Government Reform. By agreeing to not seek

sequential referral, the Government Reform Committee does not

waive its jurisdiction over H. Res. 591. I respectfully

request that you include this letter and your response in the

Congressional Record during consideration of this legislation

on the House floor. Thank you for your attention to these

matters.

Sincerely,

Tom Davis,

Chairman.

Mr. Speaker, I rise today to support H. Res. 591 which recognizes the contributions made by America's community banks to this Nation's economic well-being and prosperity. These community banks are imperative to the success of any local community. Their recognition today is well deserved and I am in support of the effort to designate one month as Community Banking Month.

Community banks, while often overlooked, offer many advantages to the people and areas they serve. Community banks focus attention on the needs of local families, businesses, and farmers. Community banks channel most of their loans to the neighborhoods where their depositors live and work. Community bank officers are typically deeply involved in local community affairs. Many community banks are willing to consider character, family history and discretionary spending in making loans. Finally, because community banks are themselves small businesses, they understand the needs of small business owners. Their core concern is lending to small businesses and farms. Studies show that they are the primary advisers of small businesses. It is fairly evident that community banks are truly built by the community's efforts to serve the community's interests.

I am of the belief that a Community Banking Month will help truly reflect the necessary efforts that community banks make to serve their customers. Not all businesses can be large, not all banks can be national; there will always be a need for these services to be provided on the community level. I want to thank all the community banks in Houston and throughout the United States who on a day like today will help some young couple secure their first home mortgage or allow a young student to go to college by extending a student loan. It is moments like these and the opportunities they provide that truly allow us to realize our own piece of the American Dream.

Mr. Speaker, I rise in support of H. Res. 591, and to honor the significant, longstanding contribution of America's Community Banks.

In hometowns all across America, Community Banks have been the anchor for countless generations.

Moms and dads raising families, educating their children, planning for a comfortable retirement; farmers, entrepreneurs and innumerable small businesses that are the cornerstone of our free-market economy; churches, hospitals, schools, civic organizations--indeed the entire fabric of America's culture--all know they have a partner and friend in their hometown Community Bank.

Jimmy Stewart romanticized the legacy of hometown bankers as George Bailey in the Christmastime classic, ``It's a Wonderful Life''.

Mr. Speaker, while the movie's plot was fictional, in neighborhoods and towns all across America, there are real life George Baileys that work hard and nobly, extend a helping hand, help see families and businesses through difficulties, and make dreams come true on a daily basis.

Like the other small businesses in America's hometowns, Community Banks are typically owned by the folks right there in the community. They know their neighbors, and their neighbors know them. They know a handshake still matters. Their kids go to school together, and they see each other at church.

Community Banks depend on the people in the community for their success, and the community depends on the bank to be there for them-- through good times and tough times. It's a partnership that isn't drawn up on any contract, but it is understood and established with a bond far stronger than paper and ink.

So, Mr. Speaker, I proudly support H. Res. 591, and urge all my colleagues in the House to join me in expressing gratitude for the contribution of our Nation's Community Banks, as one of our country's great traditions.