Even if there's a pick-up today in job creation, we should not see a real improvement in delinquencies until later this year -- there's about a six- to nine-month lag. But I clearly believe the employment market plays a key factor in delinquencies.

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They don't try to be Wal-Mart. Small banks recognize they need to specialize, rather than try to offer the full range of products. And specialization leads to more efficiencies.

234

People need to choose the risk and savings instruments that are right for them. If a person is very risk averse, then bank deposits are very attractive.

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