CAMBRIDGE, Md.- It has been less than a week since regulators shut down the Bank of the Eastern Shore. Customers continue to rush to get their affairs in order as they weigh their options to where their money should go.
A small town bank or a national bank? Most are staying loyal to their community banks.
"I lean toward the community bank," said Clark Simms of East New Market. "In fact, I have already done that and went to a community bank."
"I am going to stick with a community bank and my preference is because my money goes to work in the community," said Scott Shilling of Cambridge. Shilling is a big advocate of community banks. He said they may be smaller, but he stands to gain more in the long run.
"I still get the same services, and I get better customers service down at a community bank," Schilling noted.
After what happened at the Bank of the Eastern Shore, some say they will now put their hard-earned money into a national bank because they call it a safer choice.
"It will be a national bank, I don't want the same thing to happen again if I go back to a small bank," said Ken Kloostra of Cambridge. Others like Robert Wright are fed up with banks altogether. He said he is tired of being overcharged.
"Banks charge you a arm and a leg for for stuff and I am not going to pay that kind of crap," Wright said.
In the Cambridge area, banks on average open around four or five accounts per day. But over the past week since the Bank of the Eastern Shore has closed, they have been opening somewhere between 30-40 accounts per day.