Sherry LeBlanc has been a teller at Community First Bank for two years and anticipates a promotion to main teller within the next few months. She’s worked hard at her job, knows her bank’s financial products well, and interacts with customers effectively. Community First Bank has been in business for 38 years, provides traditional banking services, and enjoys a good reputation in the local area.
-Because it's a nondepository institution,Community First Bank will probably never offer trust services.

Question

Quizplus · Accepted Answer

Community First Bank is described as providing traditional banking services and having a good reputation locally, which implies it is a depository institution, as traditional banks accept deposits. Nondepository institutions typically do not offer banking services like accepting deposits or offering trust services, so the statement is incorrect based on the description of the bank's activities.

Sherry LeBlanc Has Been a Teller at Community First Bank