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Cyberattacks on Small Banks and the Impact on Local Banking Markets

FABIAN GOGOLIN et al.

Journal of Money, Credit and Banking2026https://doi.org/10.1111/jmcb.70043article
AJG 4ABDC A*
Weight
0.50

Abstract

Cyberattacks on small banks have direct and spillover effects in local markets. Following successful cyberattacks, hacked small banks experience a decline in deposit growth rates. This effect of cyberattacks is not observed in hacked large banks. Cyberattacks on small banks also increase the local market share of large banks through positive deposit spillovers. The consequent change in market structure reduces credit access for small borrowers and impedes small establishment growth. Our findings show that, unlike large banks, small banks are not seen by depositors as having the resources to maintain adequate cybersecurity systems to protect customers from evolving cyber threats.

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https://doi.org/https://doi.org/10.1111/jmcb.70043

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@article{fabian2026,
  title        = {{Cyberattacks on Small Banks and the Impact on Local Banking Markets}},
  author       = {FABIAN GOGOLIN et al.},
  journal      = {Journal of Money, Credit and Banking},
  year         = {2026},
  doi          = {https://doi.org/https://doi.org/10.1111/jmcb.70043},
}

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Cyberattacks on Small Banks and the Impact on Local Banking Markets

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Evidence weight

0.50

Balanced mode · F 0.40 / M 0.15 / V 0.05 / R 0.40

F · citation impact0.50 × 0.4 = 0.20
M · momentum0.50 × 0.15 = 0.07
V · venue signal0.50 × 0.05 = 0.03
R · text relevance †0.50 × 0.4 = 0.20

† Text relevance is estimated at 0.50 on the detail page — for your query’s actual relevance score, open this paper from a search result.