Independent Banker - April 2020 - 21

C. Gerrish, chairman of the board and founding
director of Gerrish Smith Tuck Consultants and
Attorneys PC in Memphis, Tenn.
" But now with digital channels, they can, " he
says. " They just need to figure out where they're
getting the biggest bang for the buck, because most
community banks still have limited resources. "
If it's a purely commodity product, like mortgage
loans or consumer loans, then an online
delivery channel might be most advantageous,
Gerrish says.
On the road
IncredibleBank, based in Wausau, Wis., both
markets and underwrites its luxury motor coach
lending business nationwide because it's online,
says Todd Nagel, CEO of the $1.4 billion-asset
community bank.
Customers are either referred to IncredibleBank
by the motor coach manufacturer, or they
learn directly about the community bank's loans
due to its search engine optimization (SEO)
efforts. For example, if someone Googles " motor
coach loan, " IncredibleBank's website is one of
the first to show up in the results. (For more on
SEO, turn to page 38.)
" This way, we don't have to have a branch network
all over the United States, " Nagel says. " Our
offering is easy to find, and the technology is easy
to use. "
Customers either complete the online application
at the dealership or at home, but either
way, they can call an IncredibleBank staffer to
help them through the process. " Some of our
customers want to talk to a live person, so we
accommodate them depending on their comfort
level with the channel, " Nagel says.
The community bank offers such customers
additional products, including online checking
accounts and RV insurance through its wholly
owned subsidiary, IB Insurance Services Inc.
" The advantage to us is that we can do business
with somebody in Kansas and give them the
same kind of experience as they would get at a
local bank, " Nagel says.
But even though IncredibleBank's lending niche
is conducted primarily online, there is a certain
amount of relationship building, both with manufacturers
and with customers. Nagel and some
of the community bank's team regularly attend
events coordinated by motor coach associations,
where members congregate for fun, such as Nascar
races. " I drive our bank-owned coach to these
events, where there might be 30 to 70 coaches, "
he says. " We get to spend time with our customers
and meet prospective ones. It's a lot of fun! "
Mortgages that travel
Community Savings Bank in Edgewood, Iowa,
has also figured out the advantages of digital
channels. It offers a white-labeled Pocket Mortgage
website, which is responsive, meaning it's
easily read on smartphones, says Chad Kreel, vice
president of marketing at the $428 million-asset
community bank.
On the community bank's main website,
prospective borrowers can click on the Pocket
Mortgage link to be taken to PocketMortgage.
com. Borrowers can complete an online application
and upload necessary documents for
underwriting. The site also posts the contact
information and photos of Community Savings
Bank's mortgage loan officers in case applicants
need assistance or want to work with a loan officer
directly.
" When this idea was brought to me, I saw how
we could get the best of both worlds, " Kreel says.
" It allows people to complete mortgage applications
using the phones in their pocket, but with the
help of a personal mortgage banker if they want it.
" The beauty of this is that they don't have to
be in northeast Iowa. Our bankers can work with
anyone who chooses them, and we can lend outside
our branch footprint. "
Quick stat
42%
of small loans
to businesses
are held by
community
banks
Source: FDIC
Community Savings Bank enhances its SEO
strategy by posting videos of borrower testimonials
so the bank is prioritized even more on
Google searches. But that's not all: On the social
media pages of participating real estate agents,
the community bank's ads pop up for prospective
borrowers meeting certain criteria.
" We target realtors on Facebook and LinkedIn,
who also benefit from our ads, because that can
help them sell more homes, " Kreel says.
North Side Bank & Trust Co. in Cincinnati is
known within its local market as the go-to bank
for construction contractors, says Paul Felix,
chief loan officer at the $715 million-asset community
bank. The bank has specialized products
and services for contractors, including the option
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Independent Banker - April 2020

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