On the uniqueness of community banks

To the public, all banks seem alike. But banking insiders make important distinctions between community banks and all other banks. Policymakers worry that community banks’ unique characteristics threaten their survival in the face of industry consolidation. However, despite dramatic regulatory and technological changes in the industry in the past two decades, community banks have not only survived but often prospered. ; This article explores the differences between community banks and larger banks to discover what makes community banks unique. Large banks engage primarily in transactional banking—the provision of highly standardized intermediation services, such as gathering deposits and extending loans, that require little human input to manage. Community banks, in contrast, typically focus on relationship banking, which requires more human input, more detailed credit evaluation, and localized decision making. ; Examining profit and risk measures for the 1998–2002 period for both community banks and large banking organizations, the authors find evidence that small banks were generally profitable. In all but the smallest size category, community banks have performed as well as, and often better than, large banks in managing net interest margins, aggregate profits, and credit risk. Also, community banks are more likely to adopt Subchapter S tax status, which allows them to avoid direct federal income taxation and pass tax benefits on to shareholders. These institutions typically have relatively higher returns on both equity and assets than larger banks do. Whether community banks will be able to sustain this good performance will depend, the authors conclude, on how well managers find valuable relationship lending niches, invest bank capital, and balance asset quality with growth.Community banks

Observations on the Overwintering Potential of the Striped Cucumber Beetle (Coleoptera: Chrysomelidae) in Southern Minnesota

The striped cucumber beetle, Acalymma vittatum (Fabricius) (Coleoptera: Chrysomelidae), is an important pest of cucurbit crops. However, the overwinter- ing capacity of this pest in temperate regions is poorly understood. In this study, the in-field survival of A. vittatum was examined during three consecutive winters. In addition, the supercooling points of A. vittatum were determined as an index of cold hardiness for adults. During each winter, the survival of adults decreased significantly through time, with no individuals surviving until spring. By comparing the supercooling points and in-field survival of adults to soil temperatures, it appears that winter temperatures in Minnesota are cold enough to induce freezing of the beetles. Moreover, a considerable amount of mortality occurred before minimum monthly soil temperatures dropped below the supercooling point of overwintering individuals, suggesting the occurrence of prefreeze mortality. An improved understanding of the response of A. vittatum to winter temperatures in temperate regions may aid in early season management of this pest

General approach for studying first-order phase transitions at low temperatures

By combining different ideas, a general and efficient protocol to deal with discontinuous phase transitions at low temperatures is proposed. For small $T$'s, it is possible to derive a generic analytic expression for appropriate order parameters, whose coefficients are obtained from simple simulations. Once in such regimes simulations by standard algorithms are not reliable, an enhanced tempering method, the parallel tempering -- accurate for small and intermediate system sizes with rather low computational cost -- is used. Finally, from finite size analysis, one can obtain the thermodynamic limit. The procedure is illustrated for four distinct models, demonstrating its power, e.g., to locate coexistence lines and the phases density at the coexistence.Comment: 5 page

Interaction-assisted propagation of Coulomb-correlated electron-hole pairs in disordered semiconductors

A two-band model of a disordered semiconductor is used to analyze dynamical interaction induced weakening of localization in a system that is accessible to experimental verification. The results show a dependence on the sign of the two-particle interaction and on the optical excitation energy of the Coulomb-correlated electron-hole pair.Comment: 4 pages and 3 ps figure

Pair tunneling through single molecules

By a polaronic energy shift, the effective charging energy of molecules can become negative, favoring ground states with even numbers of electrons. Here, we show that charge transport through such molecules near ground-state degeneracies is dominated by tunneling of electron pairs which coexists with (featureless) single-electron cotunneling. Due to the restricted phase space for pair tunneling, the current-voltage characteristics exhibits striking differences from the conventional Coulomb blockade. In asymmetric junctions, pair tunneling can be used for gate-controlled current rectification and switching.Comment: 4+ pages, 4 figures; minor changes, version published in Phys. Rev. Let

The Seagrasses of the Mid-Atlantic Coast of the United States

The mid-Atlantic region of the United States includes four states: Delaware, Maryland, Virginia and North Carolina. It is characterized by numerous estuaries and barrier- island coastal lagoons with expansive salt marshes and seagrass beds in most shallow-water areas. There are no rocky shores . Hard substrates are either man-made [rock jetties and riprap or wood pilings) or biogeniclly generated [oyster and worm reefs). Sediments are predominantly quartz sand in shallow exposed areas with finer grain sediments in deeper or well-protected areas . Marsh peat outcroppings or cohesive sediments are sometimes found in the subtidal areas adjacent to eroding marshes. Climatic variations are large with air temperatures ranging from - 10°C to 40°C and water temperatures ranging from 0°C to 30°C. Tides are equal and semi-diurnal but relatively small in range (maximum of 1.3 m during spring tides).https://scholarworks.wm.edu/vimsbooks/1159/thumbnail.jp