Independent Banker - December 2021 - 18

PORTFOLIO
State Bank of Texas, led
by president Sushil Patel
(center), has a niche working
with hospitality customers
like Reena and Arun Patel,
who own and operate a
La Quinta hotel in Dallas.
◎FOCUS LENDING
How banks stood
with hotel customers
Many hotels and other hospitality businesses haven't fully bounced back
from COVID-19 travel and safety restrictions, but community banks have
been by their side through the challenges. Luckily, these lenders say
loan demand is returning in many areas. By Beth Mattson-Teig
ommunity banks that provided a
critical financial lifeline to hotels
during the pandemic are keeping close
tabs on the industry's recovery and
what it means for their existing loans
and new business ahead.
" Between the [Trump]
administration and Congress and
the regulators, they did a terrific
C
job of allowing banks to work with
their borrowers, " says Jeff W. Dick,
chairman and CEO of $1.7 billionasset
MainStreet Bank in Fairfax,
Va. Those quick collective efforts
gave bankers an opportunity to help
businesses including hotels remain
successful, he adds.
MainStreet Bank has a sizable
hotel loan portfolio with roughly
$100 million in loans on 15
properties. The community bank
worked with its hotel borrowers that
struggled during the disruption of
COVID-19, including allowing some
to go interest-only or defer principal
payments. The bank also helped hotel
operators obtain Paycheck Protection
Program (PPP) loans. Taking those
steps gave operators needed time
until travel started to resume, and
none of those loans have defaulted,
Dick says.
" At the very beginning, we didn't
know how much or how long that
liquidity strain was going to exist.
So, we were definitely capturing
STR report data on a monthly basis
and getting financials and doing
everything we could to monitor their
performance, " says Dick, referring to
Smith Travel Research, a firm that
publishes hospitality benchmarking
18 Q ICBA Independent Banker Q December 2021
Photo: R.J. Hinkle

Independent Banker - December 2021

Table of Contents for the Digital Edition of Independent Banker - December 2021

Table of Contents
Independent Banker - December 2021 - Intro
Independent Banker - December 2021 - Cover1
Independent Banker - December 2021 - Cover2
Independent Banker - December 2021 - Table of Contents
Independent Banker - December 2021 - 2
Independent Banker - December 2021 - 3
Independent Banker - December 2021 - 4
Independent Banker - December 2021 - 5
Independent Banker - December 2021 - 6
Independent Banker - December 2021 - 7
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Independent Banker - December 2021 - Cover3
Independent Banker - December 2021 - Cover4
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