Bouncing back from a tough economic recession, community banks are beginning to gain confidence and explore new opportunities in the commercial lending market. Agreeably, community banks typically can’t compete with the low rates of larger institutions, however, personal service, consistency and customer loyalty make up the difference. In addition, community bank offer faster turnaround times than big banks and the ability to add creativity and common sense to their lending.
In a recent article from Independent Banker, Terri Gill, Senior Vice President, Commercial Real Estate Manager, and Community Banking Market President at Salin Bank, shared “(They) use the human element to their advantage. We have a great talent pool, and we look for ways to solve problems and meet needs in a very efficient manner.”
Many viable opportunities exist in commercial lending for community banks. Community banks need to continue to focus on providing dynamic customer service to remain competitive and stand out from larger institutions.