Amidst large bank failures and a
nationwide credit crisis, community
banks have increased their SBA
Lending for the 2008 fiscal year (ending September 30th) by over one-third from 2007, whereas large banks have decreased their SBA loan volume.
Citizens and Champaign Bank led the community bank group by more than doubling their small business lending, where 90% of the nation’s jobs reside.
Jim Miller, Citizens Bank President and CEO, remarks, “We are proud to be the first community bank awarded the title SBA Lender of the Year. Citizens Bank extends congratulations to our fellow community banks that were also able to increase SBA lending at a time when most of our larger competitors were tightening their credit limits.”
For more information on the SBA, go to www.SBA.gov.
Citizens Bank Co. 1st ever Community Bank Named SBA Lender of the Year
More than Doubles Small Business Lending,
the heart of our community
Bank Merger Focused on Shareholders, Not
Necessarily Customers
PNC to Buy National City
Under a recently announced deal, Pittsburgh-based PNC (NYSE: PNC) will buy Cleveland-based National City (NYSE: NCC) for $2.23 per share, or about $5.2 billion in PNC stock. Another $384 million in cash will be payable to certain warrant holders, PNC officials said in a news release.
"Upon closing the transaction, we will implement our successful business model and execute our strategies for managing risk, achieving cost efficiencies and growing high-quality revenue streams," said James E. Rohr, chairman and chief executive officer of PNC. "We believe this strategic combination will continue PNC's efforts to build capital strength and shareholder value."
The community awaits decisions on local branch changes and modifications to products, services and staff.
The Columbus Business First's annual ranking of the 50 fastest-growing emerging companies in Central Ohio includes a Champaign Bank customer.
“We’ve been Champaign Bank customers for about eight years,” said Christopher Curry, president, Destinations by Design. “The bank was there for us in the early years with a line of credit to help us through short-term cash crunches.”
More recently, Champaign Bank made another significant impact to Curry’s business.
“We appreciated the support that Champaign Bank provided when we bought our new office,” Curry stated. “They were very helpful in walking us through the process of getting an SBA loan.”
To be eligible for the Business First Fast 50 list, nominees must be headquartered in Central Ohio, be privately held and have at least $1 million in revenue per year with a three-year operating history. RSM/Hausser + Taylor LLC tracked and evaluated qualification forms.
Destinations by Design is a full service destination management company providing cost effective, creative planning solutions for meetings, events, and conferences of any size. They can be reached at 614-798-9857.
Destinations by Design, a Dublin-based event planning firm, enjoys their second consecutive year with this prestigious recognition.
For the first time ever, the Small Business Administration - Cleveland District Office has created a 2008 Lender of the Year Award specifically for community banks. This award was presented to The Citizens Bank Company, operating under the name Citizens Bank and Champaign Bank, for completing the highest number of SBA Loans in the designated fiscal year.
Citizens Bank was recognized by the Small Business Administration for more than doubling their small business lending. Pictured left to right are, Gil Goldbert, District Director; Jim Miller, Citizens Bank President; and Senator Sherrod Brown.While many large, regional banks like National City, Fifth Third, Huntington and Key Bank are suffering financial hardships; locally owned Champaign Bank is proving to be a strong foundation in the community.
Champaign Bank has been serving local communities for more than 130 years. As
a well capitalized financial institution, the bank’s continued success helps Champaign employ more than 350 local residents.
“We are proud to have a staff that is so closely tied to their communities,” said James Miller, President & CEO, Citizens Bank. “It is not uncommon to walk into a Champaign
Bank location and be served by someone you know from your child’s activities or from other community organizations.”
Champaign’s dedication to the local
community extends beyond the employees as the bank has donated more than $100,000 to the communities that they serve.
Champaign Bank...A Strong Community Pillar
