Independent Banker - July 2017 - 35

WHAT MAKES A TIRELESS FARMER
STOP AND SMELL THE ALFALFA?
IF YOU ANSWERED, " OFFERING RATES AND TERMS
HE'S HUNGRY FOR, " YOU'D BE RIGHT.
When Bank of Central Florida in
Lakeland, Fla., opened in 2007, it
raised $23.5 million in capital, which
was a lot for a bank at the time,
according to Paul Noris, president,
chairman and chief executive of the
$475 million-asset bank. If the situation
then were what it is today, Noris
says he's not sure he would have tried
to raise these funds based on the
current fi nancial situation for community
banks.
For starters, he says it would be a
challenge because he'd have to tell
potential investors they wouldn't see
returns on their investment for at least
seven to 10 years, taking into account
the heightened capital requirements
and low interest rates. " That's a long
time to be patient, " he says.
It's a particularly hard sell because
investors can potentially get better
returns elsewhere-and more quickly,
too. " It's tough now as a community
bank to make enough money to provide
reasonable returns to our
shareholders, which is why we exist, "
Noris says.
Bankers nowadays also have to
spend more time upfront crafting the
new bank's business plan and determining
its executive team, because
material changes could signifi cantly
delay the approval process, according
to Weinstock.
" Once you fi le your application,
it needs to be buttoned up tight and
done, because revisiting things just
adds expense and time, " he says.
" Time is a killer of new bank chartering
efforts. "
Timing is everything
Would-be de novo banks also have to
be realistic about their timing. Realistically,
it takes nine to 11 months
from when you fi le your application
to opening day; if it takes longer
than that, it's likely the application is
troubled, according to Weinstock.
Bankers with past experience
also advise potential applicants to
Rick, Alex and
Mike Petersen,
Petersen Farms
To read the Petersen Farms story and learn
how we help ag lenders offer a broader
selection of loan solutions at competitive rates,
visit FarmerMac.com/Tireless.
800.879.3276

http://www.qmags.com/clickthrough.asp?url=www.FarmerMac.com/Tireless&id=20303&adid=P35A1

Independent Banker - July 2017

Table of Contents for the Digital Edition of Independent Banker - July 2017

Table of Contents
Independent Banker - July 2017 - Intro
Independent Banker - July 2017 - Cover1
Independent Banker - July 2017 - Cover2
Independent Banker - July 2017 - Table of Contents
Independent Banker - July 2017 - 2
Independent Banker - July 2017 - 3
Independent Banker - July 2017 - 4
Independent Banker - July 2017 - 5
Independent Banker - July 2017 - 6
Independent Banker - July 2017 - 7
Independent Banker - July 2017 - 8
Independent Banker - July 2017 - 9
Independent Banker - July 2017 - 10
Independent Banker - July 2017 - 11
Independent Banker - July 2017 - 12
Independent Banker - July 2017 - 13
Independent Banker - July 2017 - 14
Independent Banker - July 2017 - 15
Independent Banker - July 2017 - 16
Independent Banker - July 2017 - 17
Independent Banker - July 2017 - 18
Independent Banker - July 2017 - 19
Independent Banker - July 2017 - 20
Independent Banker - July 2017 - 21
Independent Banker - July 2017 - 22
Independent Banker - July 2017 - 23
Independent Banker - July 2017 - 24
Independent Banker - July 2017 - 25
Independent Banker - July 2017 - 26
Independent Banker - July 2017 - 27
Independent Banker - July 2017 - 28
Independent Banker - July 2017 - 29
Independent Banker - July 2017 - 30
Independent Banker - July 2017 - 31
Independent Banker - July 2017 - 32
Independent Banker - July 2017 - 33
Independent Banker - July 2017 - 34
Independent Banker - July 2017 - 35
Independent Banker - July 2017 - 36
Independent Banker - July 2017 - 37
Independent Banker - July 2017 - 38
Independent Banker - July 2017 - 39
Independent Banker - July 2017 - 40
Independent Banker - July 2017 - 41
Independent Banker - July 2017 - 42
Independent Banker - July 2017 - 43
Independent Banker - July 2017 - 44
Independent Banker - July 2017 - 45
Independent Banker - July 2017 - 46
Independent Banker - July 2017 - 47
Independent Banker - July 2017 - 48
Independent Banker - July 2017 - 49
Independent Banker - July 2017 - 50
Independent Banker - July 2017 - 51
Independent Banker - July 2017 - 52
Independent Banker - July 2017 - 53
Independent Banker - July 2017 - 54
Independent Banker - July 2017 - 55
Independent Banker - July 2017 - 56
Independent Banker - July 2017 - 57
Independent Banker - July 2017 - 58
Independent Banker - July 2017 - 59
Independent Banker - July 2017 - 60
Independent Banker - July 2017 - 61
Independent Banker - July 2017 - 62
Independent Banker - July 2017 - 63
Independent Banker - July 2017 - 64
Independent Banker - July 2017 - 65
Independent Banker - July 2017 - 66
Independent Banker - July 2017 - 67
Independent Banker - July 2017 - 68
Independent Banker - July 2017 - 69
Independent Banker - July 2017 - 70
Independent Banker - July 2017 - 71
Independent Banker - July 2017 - 72
Independent Banker - July 2017 - Cover3
Independent Banker - July 2017 - Cover4
https://www.nxtbook.com/mspc/independentbanker/october2024
https://www.nxtbook.com/mspc/independentbanker/september2024
https://www.nxtbook.com/mspc/independentbanker/august2024
https://www.nxtbook.com/mspc/independentbanker/july2024
https://www.nxtbook.com/mspc/independentbanker/june2024
https://www.nxtbook.com/mspc/independentbanker/may2024
https://www.nxtbook.com/mspc/independentbanker/april2024
https://www.nxtbook.com/mspc/independentbanker/march2024
https://www.nxtbook.com/mspc/independentbanker/february2024
https://www.nxtbook.com/mspc/independentbanker/january2024
https://www.nxtbook.com/mspc/independentbanker/december2023
https://www.nxtbook.com/mspc/independentbanker/november2023
https://www.nxtbook.com/mspc/independentbanker/october2023
https://www.nxtbook.com/mspc/independentbanker/september2023
https://www.nxtbook.com/mspc/independentbanker/august2023
https://www.nxtbook.com/mspc/independentbanker/july2023
https://www.nxtbook.com/mspc/independentbanker/june2023
https://www.nxtbook.com/mspc/independentbanker/may2023
https://www.nxtbook.com/mspc/independentbanker/april2023
https://www.nxtbook.com/mspc/independentbanker/march2023
https://www.nxtbook.com/mspc/independentbanker/february2023
https://www.nxtbook.com/mspc/independentbanker/january2023
https://www.nxtbook.com/mspc/independentbanker/december2022
https://www.nxtbook.com/mspc/independentbanker/november2022
https://www.nxtbook.com/mspc/independentbanker/october2022
https://www.nxtbook.com/mspc/independentbanker/september2022
https://www.nxtbook.com/mspc/independentbanker/august2022
https://www.nxtbook.com/mspc/independentbanker/july2022
https://www.nxtbook.com/mspc/independentbanker/june2022
https://www.nxtbook.com/mspc/independentbanker/may2022
https://www.nxtbook.com/mspc/independentbanker/april2022
https://www.nxtbook.com/mspc/independentbanker/march2022
https://www.nxtbook.com/mspc/independentbanker/february2022
https://www.nxtbook.com/mspc/independentbanker/january2022
https://www.nxtbook.com/mspc/independentbanker/december2021
https://www.nxtbook.com/mspc/independentbanker/november2021
https://www.nxtbook.com/mspc/independentbanker/october2021
https://www.nxtbook.com/mspc/independentbanker/september2021
https://www.nxtbook.com/mspc/independentbanker/august2021
https://www.nxtbook.com/mspc/independentbanker/july2021
https://www.nxtbook.com/mspc/independentbanker/june2021
https://www.nxtbook.com/mspc/independentbanker/may2021
https://www.nxtbook.com/mspc/independentbanker/april2021
https://www.nxtbook.com/mspc/independentbanker/march2021
https://www.nxtbook.com/mspc/independentbanker/february2021
https://www.nxtbook.com/mspc/independentbanker/january2021
https://www.nxtbook.com/mspc/independentbanker/december2020
https://www.nxtbook.com/mspc/independentbanker/november2020
https://www.nxtbook.com/mspc/independentbanker/october2020
https://www.nxtbook.com/mspc/independentbanker/september2020
https://www.nxtbook.com/mspc/independentbanker/august2020
https://www.nxtbook.com/mspc/independentbanker/july2020
https://www.nxtbook.com/mspc/independentbanker/june2020
https://www.nxtbook.com/mspc/independentbanker/may2020
https://www.nxtbook.com/mspc/independentbanker/april2020
https://www.nxtbook.com/mspc/independentbanker/march2020
https://www.nxtbook.com/mspc/independentbanker/february2020
https://www.nxtbook.com/mspc/independentbanker/january2020
https://www.nxtbook.com/mspc/independentbanker/december2019
https://www.nxtbook.com/mspc/independentbanker/november2019
https://www.nxtbook.com/mspc/independentbanker/october2019
https://www.nxtbook.com/mspc/independentbanker/september2019
https://www.nxtbook.com/mspc/independentbanker/august2019
https://www.nxtbook.com/mspc/independentbanker/july2019
https://www.nxtbook.com/mspc/independentbanker/june2019
https://www.nxtbook.com/mspc/independentbanker/may2019
https://www.nxtbook.com/mspc/independentbanker/april2019
https://www.nxtbook.com/mspc/independentbanker/march2019
https://www.nxtbook.com/mspc/independentbanker/february2019
https://www.nxtbook.com/mspc/independentbanker/january2019
https://www.nxtbook.com/mspc/independentbanker/december2018
https://www.nxtbook.com/mspc/independentbanker/november2018
https://www.nxtbook.com/mspc/independentbanker/october2018
https://www.nxtbook.com/mspc/independentbanker/september2018
https://www.nxtbook.com/mspc/independentbanker/august2018
https://www.nxtbook.com/mspc/independentbanker/july2018
https://www.nxtbook.com/mspc/independentbanker/june2018
https://www.nxtbook.com/mspc/independentbanker/may2018
https://www.nxtbook.com/mspc/independentbanker/april2018
https://www.nxtbook.com/mspc/independentbanker/march2018
https://www.nxtbook.com/mspc/independentbanker/february2018
https://www.nxtbook.com/mspc/independentbanker/january2018
https://www.nxtbook.com/mspc/independentbanker/december2017
https://www.nxtbook.com/mspc/independentbanker/november2017
https://www.nxtbook.com/mspc/independentbanker/october2017
https://www.nxtbook.com/mspc/independentbanker/september2017
https://www.nxtbook.com/mspc/independentbanker/august2017
https://www.nxtbook.com/mspc/independentbanker/july2017
https://www.nxtbook.com/mspc/independentbanker/june2017
https://www.nxtbook.com/mspc/independentbanker/may2017
https://www.nxtbook.com/mspc/independentbanker/april2017
https://www.nxtbookmedia.com