Independent Banker - January 2024 - 16
PORTFOLIO
ā—ˇFOCUS LENDING
The lending outlook
for 2024
A pullback in lending from some institutions creates opportunities for
community banks to pick up new customers. By Beth Mattson-Teig
ommunity bank lenders are
bracing for a " higher for longer "
interest rate environment ahead in
2024. The silver lining? After a period
of rate volatility and uncertainty, rates
appear to be stabilizing.
Although more expensive
debt financing has been a tough
adjustment for borrowers, banks
generally have continued to produce
steady levels of loan originations.
The total volume of loans and leases
held by FDIC-insured institutions
increased by 4.5% year-over-year in
second quarter 2023 to $12.3 trillion.
Denver-based ANB Bank has
maintained good lending volume
for much of 2023 and is predicting
another solid year ahead in 2024.
The $3.2 billion-asset community
bank credits that activity in part
to its diverse lending business
across different sectors, including
consumer, mortgage, commercial,
business loans, affordable housing
and commercial real estate. A second
factor contributing to that steady
volume is that many of its competitors
have pulled back.
" We've actually been very active,
but it's in part because the rest of
the market has shut down, " says
Koger Propst, president and CEO of
ANB Bank.
Koger Propst, president
and CEO of ANB Bank,
says that being a steady,
consistent lender is
what customers need
right now.
Consumers, small businesses
and others are more cautious when
it comes to taking on debt in the
current economic environment, where
interest rates are higher. At the same
time, the banking sector has been
affected by higher interest rates, the
cost of funding and, in some cases,
a decline in deposits. If a bank has a
high loan-to-deposit ratio and now
has funding challenges, it has less
firepower to fund new loans.
" I'm not saying we weren't
impacted, " Propst says. " But for us, we
have seen this as a time of opportunity.
There are good customers wandering
C
16 // ICBA Independent Banker // January 2024
Photo: Jason Sinn
Independent Banker - January 2024
Table of Contents for the Digital Edition of Independent Banker - January 2024
Contents
Independent Banker - January 2024 - Cover1
Independent Banker - January 2024 - Cover2
Independent Banker - January 2024 - Contents
Independent Banker - January 2024 - 2
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