Independent Banker - April 2019 - 65
[Increased business] was never even a consideration when we
started [the foundation]. It was just a way to fi nd a way to fund
deserving nonprofi ts. "
-Leonard Moreland, Heritage Bank
suffi cient capital to purchase the
business and make a successful start.
" The price was just unattainable for
him, " Treml says.
If he had been a customer of a
regional or national bank, the story
probably would have ended right
there. But due to its deep community
connections, Bank of Luxemburg's
lending team knew that one of
its other customers who owned a
diff erent bar and restaurant in town
was starting to think about getting out
of the business-something no one
else knew yet.
Treml says this knowledge was
due to the fact that good
community banks often
function as business advisors
to their customers, since smallbusiness
owners usually don't
have access to many other
consultants. " As a result, our
small-business customers often
confi de a lot of their business
plans with us, " he says.
Bank of Luxemburg was
able to get the two gentlemen
together in a room to talk.
" They both got along well with
each other, " Treml says. The
potential buyer spent a lot of
time visiting the existing bar/
restaurant, getting to know the
clientele and learning how the
business operated. The owner
was also willing to share some
fi nancial information with him.
In time, the sale happened,
for about half the price of the
original business that the customer
had fi rst looked at. " As such, it was
much more fi nancially feasible, and
it allowed him suffi cient capital to
cover the fi rst couple of months of
operation, " Treml says.
Since that time, the two men have
worked through a smooth transition,
and now the community is excited
for the new bar/restaurant. What
made this transaction a success? " As
a community bank, we have boots
on the ground, and we know our
customers, " says Treml. " We are
community members, and we walk
up and down Main Street. If we didn't
do this, and if we didn't know our
business community on a personal
level like this, things like this just
couldn't happen. "
Laying a solid foundation
Community banks' impact isn't
limited to the dreams they can make
come true through loans. They also
help their communities at large.
" As is common among bank
executives, I served on a number
of nonprofi t boards, " says Leonard
Moreland, CEO of $520 million-asset
Heritage Bank in McDonough, Ga.
" One of these boards was for a free
Jenny Smith, a board member of the
Heritage Community Foundation,
highlighted its involvement with HOPE
Park, a nonprofit supporting special
needs children, at the 2018 Golf Classic.
independentbanker.org Q 65
http://www.independentbanker.org
Independent Banker - April 2019
Table of Contents for the Digital Edition of Independent Banker - April 2019
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