Independent Banker - May 2018 - 43

Agricultural lending
... and more
A
Less than $300 million in assets
Rank Bank name
City
Weir
State
1 The Philadelphia Trust Company Philadelphia PA
2 CBW Bank
3 Bank of Montana
4 Independence Bank
5 PrinsBank
6 Nebraska State Bank
7 Central Bank of Kansas City
8 Champion Bank
9 First Home Bank
10 Town & Country Bank
11 Brazos National Bank
12 Corydon State Bank
13 Bank of Morton
14 State Bank of Wheaton
15 FinWise Bank
16 Peoples State Bank
17 Home Bank of California
18 Prime Bank
19 Almena State Bank
20 Coff ee County Bank
21 Security State Bank
22
Farmers and Merchants Bank
of Kendall
23 Douglas National Bank
24 The National Bank of Andrews
25 FirsTier Bank
Greenwich
RI
KS
Missoula MT
East
Prinsburg MN
Oshkosh
NE
Kansas City MO
Parker
Seminole
CO
FL
Las Vegas NV
Richwood
Corydon
Morton
TX
IA
MS
Wheaton MN
Sandy
Summit
UT
SD
San Diego CA
Edmond
Almena
Manchester TN
Sutherland
IA
Kendall
WI
Douglas GA
Andrews
Kimball
TX
NE
OK
KS
gricultural lending is vital to many
community banks serving rural areas, but
about fi ve years ago, the leaders of Almena State
Bank in Kansas decided they couldn't rely on
3-year
average ROA
6.40
6.37
4.58
4.25
3.76
3.67
3.56
3.32
3.08
3.04
2.94
2.94
2.91
2.89
2.84
2.83
2.77
2.76
2.66
2.65
2.64
2.57
2.55
2.51
2.50
that sector alone to fuel growth.
" What drives our bank's success is that
we diversifi ed beyond agricultural lending, "
explains Shad Chandler, CEO of the
$103 million-asset bank. " We still do quite
a bit of agricultural lending, but unlike most
banks in western Kansas, we also have a
strong commercial real estate and commercial
loan department. "
Chandler explains that local farmers and
ranchers can choose from fi ve banks and
Farm Credit Services of America for their
agricultural lending needs. But manufacturers
and hospitality business owners
have fewer options. To tap
that market and build Almena
State Bank's commercial
lending portfolio,
Chandler exhibited at
several trade shows
and visited business
owners, including
some outside of his
#19
Almena State Bank
Almena, Kan.
Assets: $103 million
home market.
" We got a good
response, and now it's all
word of mouth, " he says.
" Hotels and motels, mostly in
smaller markets, are our biggest area. "
Another source of clients is other banks that
don't want to handle the paperwork involved in
SBA lending.
3yr average ROA: 2.66%
almenastatebank.com
" If they have clients that don't fi t in their
basic model, they say, 'You should look at SBA
loans, and here's a bank that specializes in that,' "
Chandler says. " We get a tremendous amount of
business that way. "
Ed Avis is a writer in Illinois.
independentbanker.org Q 43

http://www.almenastatebank.com http://www.independentbanker.org

Independent Banker - May 2018

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Table of Contents
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Independent Banker - May 2018 - Cover1
Independent Banker - May 2018 - Cover2
Independent Banker - May 2018 - Table of Contents
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