Consumers say they want to bank at small local branches. They also want digital services that only the big banks can afford.
After the National Bank of Delaware County, a small community bank, bought Bank of America Corp.’s only branch in an upstate New York town, it didn’t take long for things to go south.
People waited in four-hour-long lines at the Monticello, N.Y., branch and withdrew nearly half of their deposits, moving them to banks with more reliable technology. Technical glitches got customers so worked up that managers posted two security guards to protect employees. The community bank, which had been in business for more than a century,...
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