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Wednesday January 4, 2012
In the Kansas City economy, mobank’s commitment to Main Street small business customers is making news.
Both the Kansas City Business Journal and The Kansas City Star took notice recently of mobank bucking an overall trend in declining business loan volume in the region. While other banks are pulling back the reins on lending, the publications noted, mobank is investing wisely but confidently in local entrepreneurs – creating a rising tide that benefits customers, the bank and the overall local economy.
In a Dec. 9 cover story, the Business Journal reported that lending by local commercial banks was down 1.2 percent for the third quarter, compared to the second quarter – even while loan volume grew slightly (0.3 percent) at the national level. Reporter James Dornbrook, however, noted that mobank’s loan volume blew away both the local and national figures, growing at a healthy 9.2 percent for the quarter.
Grant Burcham, mobank’s president and CEO told the publication that mobank focuses on lending to small businesses and entrepreneurs.
“While on a national level that is considered more risky than lending to bigger business, I think entrepreneurs, by nature, don’t give up,” Burcham said. “They fight and work hard. I think our numbers are reflective of that.”
The Star story focused on year-over-year loan volume growth, rather than quarterly numbers. Reporter Mark Davis noted that loan volume for all local banks was down 7.4 percent for the year, but mobank loan volume increased 13 percent.<<-Next Prev->>