Independent Banker - January 2023 - 40

 CEO Roundtable 2023
looking at some M&A opportunities.
I'm excited going into 2023,
because we have the capital to do
more and make a diff erence in the
communities that we serve.
Q: Does your bank plan to open
any new line of business in
2023? If so, what is it, and what
is driving that opportunity?
Anita
Drentlaw
Sills: We are currently an SBA 7(a)
lender, and we participated in the
PPP program in 2020 and 2021. We
did about 850 loans for $50 million
in 81 different markets [in North
Carolina]. What we're planning to
do is scale up our SBA 7(a) line of
business, and we're in the process
of trying to build out a dedicated
SBA team to do that for us.
James
Sills
" Going into a
recession can
sometimes be
a good time
to gain new
customers,
because you're
seeing them
through good
and bad times. "
-ANITA DRENTLAW,
NEW MARKET BANK
level. That means being able to do
business with us at any time and
anywhere, and not being restricted
to our hours or our manpower.
Sills: Our bank has about
$100 million in new capital. We
received $80 million in ECIP
[Emergency Capital Investment
Program] funding through the U.S.
Treasury, which will allow our bank
to grow to over $1 billion in total
assets. This is a transformational
opportunity to grow our bank,
which is the second oldest African
American-owned bank in the
United States. We're gearing up
for this challenge by investing
in technology, developing new
products, doing more marketing,
optimizing our branches and also
Neil: One thing that is opportunistic
for us is the residential mortgage
space. While we have done
residential mortgage portfolio
loans that we keep on our books,
we have not had the capability to
off er a 30-year fi xed rate to a client
that has access to the secondary
market. Historically, we have
directed those opportunities out
to brokers and others. So we are
developing a Fannie Mae/Freddie
Mac capable product that can go
30-year fi xed rate that we would
ultimately originate and sell, which
would generate fee income for us,
and more importantly, not send a
client to someone else to solve for
their need.
Q: Which revenue streams
are likely to drive the most
profitability for your bank
in 2023?
Neil: By all means, loans. We have
a 50% loan-to-deposit ratio. We
would love for that to be 75%, but
we're not going to take undue risk
40 // ICBA Independent Banker // January 2023

Independent Banker - January 2023

Table of Contents for the Digital Edition of Independent Banker - January 2023

Table of Contents
Independent Banker - January 2023 - Cover1
Independent Banker - January 2023 - Cover2
Independent Banker - January 2023 - Table of Contents
Independent Banker - January 2023 - 2
Independent Banker - January 2023 - 3
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