Local banking refers to financial institutions that operate within a specific community or region, providing services such as savings accounts, loans, and mortgages. These banks often focus on personal relationships with customers, making it easier for individuals and small businesses to access financial services tailored to their needs. Local banks typically emphasize community development by investing in local projects and businesses. They may offer lower fees and more personalized service compared to larger national banks. This approach helps foster economic growth within the community, benefiting both the bank and its customers.