Independent Banker - October 2022 - 69

lear Mountain Bank is
embracing flexibility, innovation
and collaboration as it continues its
ascent as a small-business connector
in West Virginia.
" You just have to be open-minded about what
the borrower's needs are and create tailored
solutions for them so that they can meet their
goals and objectives. "
- DAVE THOMAS, CLEAR MOUNTAIN BANK
C
Consider, for example, its
commercial lending approach.
Commercial clients make up nearly
60% of the loan portfolio at the
$850 million-asset community bank
based in Bruceton Mills, W.Va. Most
of those commercial customers are
small-business owners.
Bankers at its nine branches in
north-central West Virginia and
one in western Maryland spend
time getting to know each customer
and understanding their unique
circumstances. Then, they get down to
problem solving.
" You just have to be open-minded
about what the borrower's needs
are and create tailored solutions for
them so that they can meet their goals
and objectives, " says Dave Thomas,
president and chief executive officer.
" We've got different tools in our
toolbox that we can use to help the
borrower get the financing they need. "
Sometimes that translates into
how lenders structure a deal. Another
solution could come in the form of
a loan guaranteed by the U.S. Small
Business Administration (SBA).
In fiscal year 2021, Clear Mountain
provided about $8 million in total
funding for 31 small businesses in its
state through the SBA's guaranteed
loan program. The SBA West Virginia
District Office named it the West
Virginia Community Lender of the
Year for 2021.
Name:
Clear Mountain Bank
Assets:
$850 million
Location:
Bruceton Mills, W.Va.
Bringing BOB into the mix
Meanwhile, as a member financial
institution of the Federal Home Loan
Bank of Pittsburgh, Clear Mountain
can access another potential
alternative for borrowers. It can help
qualified small businesses obtain
secondary financing of up to $200,000
through the federal home loan bank's
Banking On Business (BOB) program.
" Sometimes small businesses don't
have the capital to meet standard
underwriting requirements ... and
need something that can bridge
the gap and help them qualify for
financing, " Thomas says. " [BOB]
helps to make a loan that is close,
but not quite there, get across the
finish line. "
One customer that Clear Mountain
has secured a BOB loan for is Engine
Management Specialist (EMS), a
company based in Clarksburg, W.Va.,
that offers services related to turbine
engines. The primary loan that
EMS received from Clear Mountain,
coupled with a BOB loan that was
funded in June 2021, is enabling
the company to expand its facilities
and workforce.
Indeed, BOB loans can ultimately
benefit not only the borrower but
also local communities. Up through
the 2021 funding period, Clear
Mountain has secured 14 BOB loans
and accessed about $1.8 million in
funding. Thomas estimates those
funds have helped preserve 76 jobs
and create 45 new ones.
The outside-the-box mentality
of the locally owned and managed
community bank extends beyond
the lending department. " You have
to be nimble; you have to always be
thinking about what's next, " Thomas
says. " You can't get too attached to
the way you've always done things,
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