When looking at the types of institutions that actively manage the financial assets of people in each segment, people in segments 2 and 3 are significantly more likely than people in other segments to work with a national bank (assets over $100 billion; e.g., Bank of America, Chase Bank, Wells Fargo, Citigroup, etc.) and a regional bank (assets between $10 billion and $100 billion; e.g., Fifth Third Bank, PNC Bank, etc.). People in segment 5 are the most likely to work with a local/community bank (assets under $10 billion). People in segments 4 and 5 are the most likely to choose a credit union over the other institutions. This data helps community banks understand the mindset of people in each segment but also highlights opportunities for targeting and conversion. Segments that demonstrate a propensity for certain institutions represent lower-hanging fruit for marketing efforts and greater marketing efficiency and ROI. September/October 2025 53
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