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Survey Results: The Impact of the Coronavirus on Community Financial Institutions

Download to Learn:

  • Results and participation in the Paycheck Protection Program

  • Why loan workouts are a concern and what implications institutions think they will cause

  • The impact of the coronavirus on current and future CECL transition plans

  • The importance of a strategy going forward to protect credit quality and drive growth

Throughout the month of May, Abrigo polled more than 100 C-suite employees at community financial institutions across the country to gauge sentiment regarding the current state of the financial services industry. The survey aims to discern the top obstacles, strategies, and pressures the industry is currently grappling with. Using the results of this survey, financial institutions can learn from one another to tackle common challenges and manage customer expectations during this time.