Wetland mitigation banking: The bankers' perspective

Abstract

This paper reports results based on the first national study of the perceptions, experiences, and characteristics of US wetland mitigation bank managers (wetland bankers). Most previous studies have focused on ecological, economic, and policy analyses based on data collected by or from the regulatory agencies charged with permitting and overseeing wetland banks. Our in-depth, semi-structured interviews of 140 wetland bankers shed light on how the nation's mitigation banks have been working from the perspective of the individuals who own and operate them—wetland bank managers. The results indicate that wetland bankers are knowledgeable regarding their banks and the banking process. Most wetland bankers who manage private banks are male and have education and experience related to the banking industry, although there are exceptions. Many wetland banks appear to be located in highly populated wet areas of the country and are of various sizes and ecological types. The results also show a possible decline in the growth rate of the banking industry with a high number of private bankers planning no new banks or expansions and with most banks in the monitoring phase. These findings offer a new perspective on the wetland banking industry that should complement existing studies.