Many community banks embraced the Paycheck Protection Program, building new relationships and deepening existing ones. While the onus of forgiveness is on the borrowers, PPP lenders need to be prepared for the program’s unique auditing challenges.
Because of the unique funding streams and beliefs of faith-based organizations and their congregations, they carry their own risks and rewards when it comes to lending. Here are how several community banks are serving their customers of various faith traditions.
The dust from 2020 is finally beginning to settle, and that gives us an opportunity to look back at the hard work community banks put in to serve their customers. Our top lenders made the most of one of the toughest years in recent memory through personal connection, ingenuity and dedication to their communities.
The pandemic significantly changed the landscape for construction lending, but with the possibility of economic recovery on the way, there are opportunities to grow your community bank’s construction portfolio.
Independent Banker’s annual listing of America’s best-performing community banks shows that nimble thinking and an adherence to good old-fashioned customer service can bring success, whatever the circumstances.
Craft Bank, Atlanta’s first de novo bank in more than a decade, was about to open—and then the pandemic arrived. Now open, it promises to give potential customers the ability to craft their banking experience.
For three decades, Cape Ann Savings Bank has operated a unique program where a branch operates within a local high school. It’s been a vehicle for multiple generations of students to learn banking basics and connect with the community bank.
When Derek Fraley joined Systematic Savings Bank as president and CEO in 2017, it was in trouble. To save it, he changed the community bank’s charter, launched an IPO and executed sweeping culture changes. The result: the bank has had four back-to-back positive quarters for the first time in more than a decade.