Independent Banker - January 2025 - 42

COMMUNITY BANK
CEO OUTLOOK
2025
Several community
bank executives
are planning to
implement loan
origination software
in 2025 to improve
responsiveness
and turnaround
on business loan
applications.
" Anybody in the industry knows
that the commercial and small
business loan application process is
[laborious] inside most community
banks, " says Scott McComb, chairman,
president and CEO of Heartland
Bank in Whitehall, Ohio. " It's a very
manual process. "
Heartland Bank will be upgrading its
loan origination software in the first
half of the year to a new system where
borrowers can upload their financial
information and communicate with the
bank securely. " These processes have
historically been performed manually
or through email, " says McComb. " We
hope this will help us reply quicker
and better to smaller commercial loan
requests. If it's a commercial loan
application for less than $50,000,
you shouldn't have to take a blood
sample and ask for a first-born to get
something done. "
The Bank of Vernon in Vernon, Ala.,
will implement LoanVantage from
ICBA Preferred Service Provider Jack
Henry to boost efficiency and improve
data collection. " We are building out a
system to collect data from customers
that meets our needs for managing
loans and reporting, " says the
community bank's chairman, co-CEO
and CFO, Andy Johnson. " Our lending
team and support staff can collect and
input data on customers once instead
of having to fill out a spreadsheet or
document and pass it on to someone
else to enter. "
LoanVantage will reduce touches
of documents by up to 80%, says
Johnson. " It will allow us to offer
online lending where the customer
[can provide] their data [for analysis].
This will put us in a position to collect
all the necessary data points for
our reporting as a requirement to
move forward with an application or
credit analysis. "
What initiatives does your community bank anticipate introducing,
if any, to increase its income in 2025?
Grow an
existing
line of
business:
58.43%
Tighten
expenses:
35.39%
Run a
brand or
marketing
campaign:
19.66%
Add or
increase
service
fees:
12.92%
Add a new
line of
business
or a new
service:
12.36%
Merge with
another
community
bank:
9.55%
42 // ICBA Independent Banker // January 2025

Independent Banker - January 2025

Table of Contents for the Digital Edition of Independent Banker - January 2025

Contents
Independent Banker - January 2025 - Cover1
Independent Banker - January 2025 - Cover2
Independent Banker - January 2025 - Contents
Independent Banker - January 2025 - 2
Independent Banker - January 2025 - 3
Independent Banker - January 2025 - 4
Independent Banker - January 2025 - 5
Independent Banker - January 2025 - 6
Independent Banker - January 2025 - 7
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