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Local banks putting down new roots

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“For his part, [Glens Falls National Bank CEO Thomas] Hoy believes community banks in general will hold their own, but he is concerned about how new regulations will impact the smallest institutions. ‘I don’t know how a very small bank is going to be able to cope with all these regulations and stay on top of them all and understand them all,’ he said, noting that it takes teams of accountants, lawyers and consultants to comply.”

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