Why would a business choose a state bank over a national bank?%0D%0A%0D%0A(1 point)%0D%0AResponses%0D%0A%0D%0ALocal banks are required to be FDIC insured.%0D%0A%0D%0ALocal banks are required to be FDIC insured.%0D%0A%0D%0AThe business plans to expand into other regions.%0D%0A%0D%0AThe business plans to expand into other regions.%0D%0A%0D%0AThe business works with a lot of local customers.%0D%0A%0D%0AThe business works with a lot of local customers.%0D%0A%0D%0ALocal banks usually have the lowest interest rates.
%0D%0A%0D%0ALocal banks often have a better understanding of the local market and community, making it easier for businesses to access resources, build relationships, and receive personalized service.%0D%0A%0D%0AAdditionally, local banks may offer more flexible lending options and quicker decision-making processes compared to national banks.%0D%0A%0D%0AOverall, a business may choose a state bank over a national bank for the convenience, personalized service, and potential cost savings that come with working with a local institution.
