Independent Banker - June 2022 - 68

CONNECTIONS TRAILBLAZER
the second round, 170 loans totaling
nearly $13 million.
" We did a lot of smaller-dollar
loans, trying to make sure the needs
of our local community were met, "
Whitehurst says. " We also worked
with customers who did not bank with
us but were not able to get PPP loans
at the places they currently banked.
We had employees who were willing
to work around the clock to get those
done and funded. "
One category of bank customer
particularly hard hit by COVID was
restaurants. To help them in the early
stages of the pandemic, Providence
Bank bought quantities of gift
certificates from a given restaurant
each Friday and distributed them to
staff and customers. That generated a
badly needed stream of business for
those restaurants.
Back to branch strategy
As COVID wore on, some semblance
of normalcy crept back into the
banking business. Lobbies were
closed, but business was getting done.
Conversations about the new branch
started up again in the fall of 2020.
" As we got through those early
months and the first round of
PPP lending, we felt like we were
getting our hands around all that, "
Whitehurst says. " We felt like Wake
County was still going to be a vibrant
market for us, and it just made
sense to move forward and open
the location. "
The original space, which included
In place of a traditional lobby and teller
windows, Providence Bank's new branch
location, pictured, occupies office space in
downtown Raleigh, where loan and deposit
activity has been strong.
seven offices inside a modern office
building north of Raleigh's downtown,
was still available. But finalizing a
lease and furnishing an office was
difficult. Nearly anything that would
be simple during normal times-such
as getting furniture delivered-was a
challenge during that no-contact era.
Another difficulty was finding
employees, since most people were
still completely hunkered down in
those pre-vaccine days. Fortunately,
one vital employee, Jeff Tobias,
commercial banking manager, was
already in place. Tobias had been
developing the client base in Raleigh
while working from the bank's
headquarters in Rocky Mount, and he
was ready to move part-time to the
new location. Eventually, Providence
secured three new employees to join
Tobias in the new office.
" Everything was just more difficult
and slow then, " Whitehurst says. " But
we worked through it step-by-step
until we could get it done. "
Finally, in December 2020, the
new location opened. As Whitehurst
had hoped, the larger community in
Raleigh has provided excellent growth
opportunities for Providence Bank.
" There is obviously more business
there because of the size and depth
of the market, " he says. So, despite
the ongoing challenges of opening
a branch during the pandemic, the
new location has met the community
bank's expectations.
" We've seen significant growth in
both the loan and deposit side out
of that location, " Whitehurst says.
" We have been able to offer a great
experience to our customers there,
and they talk to their friends and tell
them about us, and that's how we get
a lot of our business. I think that's
even more true in a larger market like
Wake County. "
Ed Avis is a writer in Illinois.
68 Q ICBA Independent Banker Q June 2022
Independent Banker - June 2022

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