Independent Banker - July 2024 - 43

" Having lenders
who are focused
on an industry
instead of a
geography and
lending nationwide
opens up the
ability to scale
pretty quickly. "
-MIKE MCGINLEY, LIVE OAK BANK
with key players and organizations
in the fi eld and developed staff who
understood the business side of
veterinary practices.
" Nobody knows more about how
to run a vet clinic than our guys in
terms of staffi ng and metrics and this
and that, " Mahan says. " So, we take
industry expertise and have those
guys sit down with our credit guys,
[and] come up with a credit box to
tell the lenders, 'You go get that, and
the loan [will likely be] approved.' "
Using SBA data, Live Oak leaders
identifi ed other industries that
are generally a good credit risk
and could benefi t from the Live
Oak model. Today, the community
bank serves approximately 6,000
borrowers across more than 30
industries ranging from funeral
homes to independent pharmacies.
" The thought process was, you can
understand an industry and credit a
lot deeper if you have people focused
on the industry as opposed to on a
geography, " says Mike McGinley,
head of small business banking.
" Having lenders who are focused on
an industry instead of a geography
and lending nationwide opens up the
ability to scale pretty quickly. "
Ed Avis is a writer in Illinois.
fLive Oak Bank-part
of its campus pictured
here-found success in
commercial lending by
identifying niche markets.
Rank Bank name
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
Commercial: More than $1B in assets
City
Blue Sky Bank
SouthPoint Bank
State Bank of Texas
Southwestern National Bank
Sunwest Bank
Pawhuska
Birmingham
Irving
Houston
Sandy
Shore United Bank, National Association Easton
Southern States Bank
Security National Bank of Omaha
Western State Bank
Stifel Bank
Anniston
Omaha
Devils Lake
St. Louis
The First, A National Banking Association Hattiesburg
Stearns Bank National Association
Community National Bank
Metropolitan Commercial Bank
Bank Five Nine
Saint Cloud
Midland
New York
Oconomowoc
Sabine State Bank and Trust Company Many
Live Oak Banking Company
Cache Valley Bank
Lake Ridge Bank
Horicon Bank
Wilmington
Logan
Cross Plains
Horicon
State
OK
AL
TX
TX
UT
MD
AL
NE
ND
MO
MS
MN
TX
NY
WI
LA
NC
UT
WI
WI
Commercial
lender score
97.6
95.5
95.4
93.5
93.4
92.9
92.5
92.1
91.1
90.7
90.3
89.9
89.4
89.3
88.2
88.1
87.9
87.4
87.2
87.1
independentbanker.org // 43/

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Independent Banker - July 2024

Table of Contents for the Digital Edition of Independent Banker - July 2024

Contents
Independent Banker - July 2024 - Cover1
Independent Banker - July 2024 - Cover2
Independent Banker - July 2024 - Contents
Independent Banker - July 2024 - 2
Independent Banker - July 2024 - 3
Independent Banker - July 2024 - 4
Independent Banker - July 2024 - 5
Independent Banker - July 2024 - 6
Independent Banker - July 2024 - 7
Independent Banker - July 2024 - 8
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Independent Banker - July 2024 - 37
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