Independent Banker - July 2020 - 40

says. " So, Dan and Joe started
with us in November 2018, and
beginning in 2019, a number of their
former lenders and support staff
from American Chartered joined us
throughout the year. "
Among those who joined during
2019 were 22 commercial lenders
from American Chartered and
some other Chicago-area fi nancial
institutions. They all became equity
partners. " They came from a variety
of diff erent banks, but all of them
have the entrepreneurial spirit, "
Gonzalo says. " And each of them had
relationships with clients who wanted
to follow their banker. "
In addition to adding the
powerhouse lenders, First National
created a new trade name, American
Commercial Bank & Trust. Under
that name, the community bank
dived into the Chicago C&I market.
It's not a coincidence that the name
is similar to Miller and Chiariello's
former institution, Gonzalo says.
To manage the new business
volume, First National invested in
upgraded technology. It added mobile
deposit capture for business clients,
as well as end-to-end integration of
ACH and domestic and international
wires. To support the technology
and lending team, the community
bank brought on experienced staff
and opened branches in the Chicago
suburbs of Lisle and Schaumburg, Ill.
The community bank's eff orts
resulted in an increase of assets to
$376 million by the end of 2019. The
number has ballooned in part due
to the strength of Small Business
Administration Paycheck Protection
Program lending.
" Our strategy is to continue to
grow organically, " Gonzalo says.
" Continuing to recruit high-caliber
individuals is part of our strategy, and
[so is] continuing to provide the level
of service and entrepreneurial spirit
to customers in Chicago who have
grown tired of the lack of that service
from out-of-state banks and the larger
Chicago banks. "
40 Q ICBA Independent Banker Q July 2020
Consumer and mortgage
Keeping loans in the community
bank family
T
he mortgage crisis of
2008-2009 spooked many
banks out of that market,
at least temporarily. But the
leadership of West Gate Bank in
Lincoln, Neb., sensed opportunity
in that catastrophe.
" When we were coming out of
the mortgage crisis, most banks
were running away from the crisis,
but we were running toward the
fl ames, " says Carl Sjulin, the
$738 million-asset community
bank's president. " It was the
contrarian thing to do, but we felt
strongly that this was a line that
people would always need. And
dotting the I's and crossing the T's
is something we are very good at. "
In the years since, West
Gate Bank has become a major
aggregator of mortgages. Today,
the bank services 15,000 loans
worth $2.5 billion from more than
Consumer and mortgage: Less than $500 million
Rank
Bank name
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
Georgia Banking Company
Bank of England
Pulaski Savings Bank
Austin Capital Bank SSB
Simmesport State Bank
The First National Bank of Gilbert
Ladysmith Federal Savings and Loan
Association
Allied First Bank,sb
The Baltic State Bank
Vantage Bank
Woodsfield Savings Bank
Calhoun County Bank, Inc.
Hertford Savings Bank, SSB
First Bank of Ohio
The City National Bank of Colorado City
Grand Timber Bank
First Federal of South Carolina, FSB
Citizens Bank
The National Iron Bank
Magnolia Bank
City
Sandy Springs
England
Chicago
Austin
Simmesport
Gilbert
Ladysmith
Oswego
Baltic
Alexandria
Woodsfield
Grantsville
Hertford
Tiff in
Colorado City
McGregor
Walterboro
Hartford
Salisbury
Hodgenville
State
GA
AR
IL
TX
LA
MN
WI
IL
OH
MN
OH
WV
NC
OH
TX
MN
SC
KY
CT
KY
Commercial
Lender Score
98.7
96.1
95.6
94.4
94.4
94.1
93.1
93.1
93.1
93.0
92.5
91.8
91.5
91.0
90.7
90.5
90.1
90.1
90.0
89.6
Independent Banker - July 2020

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