Independent Banker - October 2017 - 61
Lender Life
CREDIT TRENDS OPPORTUNITIES EXPERT IDEAS
MUNICIPAL LENDING
The business of government
Many community banks find that the benefits of lending to municipalities for
essential services outweigh the risks.
By Beth Mattson-Teig
D
rive by a fire station, school or city hall these days and odds are that the money used to pay for
essentials-ranging from school buses and fire trucks to computers and computer systems-was
financed by a community bank.
Municipal financing for equipment and construction projects is an attractive and growing niche
for many community banks. Morrisville, Vt.-based Union Bank conducts hundreds of municipal
financing transactions each year. " We view this as an important part of our overall product mix, and we are looking
to grow this area of our business in tandem with growing the rest of the bank, " says Union Bank president
David Silverman.
The $700 million-asset bank has a $550 million loan portfolio, about 10 percent of which consists of municipal
loans and bonds. " Any kind of financing that a municipality or school district might undertake is something that
we would take a look at, " Silverman says. In addition to purchasing municipal bonds, community banks offer
a wide range of loan products, such as tax, bond and grant anticipation loans, along with financing for current
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Independent Banker - October 2017
Table of Contents for the Digital Edition of Independent Banker - October 2017
Table of Contents
Independent Banker - October 2017 - Intro
Independent Banker - October 2017 - Cover1
Independent Banker - October 2017 - Cover2
Independent Banker - October 2017 - Table of Contents
Independent Banker - October 2017 - 2
Independent Banker - October 2017 - 3
Independent Banker - October 2017 - 4
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Independent Banker - October 2017 - Cover3
Independent Banker - October 2017 - Cover4
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