Village and town banks are the important organization innovation in the construction of rural financial system. Domestic researches on the banks mainly focus on institutional performance, operating problem and countermeasure, market orientation, credit risk and the approach to organization innovation. With regard to a village and town bank, as a middle-small shareholding community bank, oversea researches are chiefly focusing on the following six aspects such as the relationship between community bank and economic development, and relationship lending, the operating difference from big banks, as well as community bank’s operating risk, operating performance and developmental trend.