Independence Bank has been recognized at the national level for its dedication to agricultural lending.
Kayla Altman with Independence Bank says their talented team of Agricultural Loan Officers landed the bank in the top 100 farm lenders by dollar volume in the nation, according to the American Banker Association. She says with over $288 million in total farm loans at year end 2020, Independence Bank was the only bank in Kentucky recognized on the list that was compiled using the quarterly Call Report data available from the FDIC.
Chief Lending Officer Greg Mullican says over 18 percent of the banks current loan portfolio is agriculture related. He adds that’s because they have made a conscious decision to position themselves as specialists in the area of ag lending. He says farming is about more than fiscal responsibilities; it’s about maintaining a legacy and reaping a harvest that you can be proud of and their lenders know that. He notes what they do every day across all areas of Independence Bank is about more than a transaction, its about the relationships. Mullican adds he thinks that type of customer service is what has allowed them to excel in this field.
As the number one ag lender in Kentucky, officials say Independence Bank has a long-standing history of supporting an industry that contributes more than $1 trillion to the United States economy every year. Independence Bank offers a wide range of services from lending to farm management and succession planning that have been designed with farmers in mind.
Officials with the bank say perhaps the most valuable tool they provide is a team of Agriculture Loan Officers that know their way around a farm, many of which are farmers themselves.
Senior Lender and Agriculture Loan Officer Jimmy Dan Hicks says at the end of the day, farmers just want someone who understands their business. He adds anyone can lend money, but the true value in working with a loan officer who specializes in agriculture is having a partner that is as invested in your success as you are, and knows what it takes to reap a good harvest, in more ways than one.
Mullican adds agriculture will always be an important part of what they do at Independence Bank and they are proud to be able to help the agriculture industry grow and be successful.
Independence Bank is a regional community bank with 25 locations in twelve Kentucky counties, including Hopkins and Webster.