Advertisement

Independence Bank receives national recognition for dedication to ag lending

April 9, 2021 | 12:06 am

Updated April 8, 2021 | 11:01 pm

File photo by AP Imagery

Thanks to their team of Agricultural Loan Officers, Independence Bank has landed in the top 100 farm lenders by dollar volume in the nation. With more than $288 million in total farm loans at year end 2020, IB was the only Kentucky bank recognized on the list.

The list was published by the American Banker Association and was compiled using the quarterly Call Report data available from the FDIC.

“Over 18 percent of our current loan portfolio is agriculture related,” said Greg Mullican, IB Chief Lending Officer. “That’s because we’ve made a conscious decision to position ourselves as specialists in the area of ag lending. Farming is about more than fiscal responsibilities; it’s about maintaining a legacy and reaping a harvest that you can be proud of and our lenders know that. Many of them have lived it. What we do every day across all areas of the Bank is about more than a transaction, it’s about the relationships. And I think that type of customer service is what has allowed us to excel in this field.”

Advertisement

According to a release, “As the number one ag lender in Kentucky, Independence Bank has a long-standing history of supporting an industry that contributes more than $1 trillion to the United States economy every year. The Bank offers a wide range of services from lending to farm management and succession planning that have been designed with farmers in mind.”

A big part of the value the Bank provides comes from the team of Agriculture Loan Officers, many of which are farmers themselves. With extensive backgrounds in agriculture, they possess a unique understanding of the business of farming and the needs that go along with it.

“When you work with these farmers year after year, you see the hard work they put into their business and you’re as invested in their success as they are. For most, this is more than a job. It’s a way of life and a legacy that they will likely pass on to their loved ones. So there’s a lot at stake,” said Wayne Mattingly, Agriculture Loan Officer. “Being available, having their best interest in mind and understanding how they run their business is the most important thing at the end of the day.”

To view the full list of the Top 100 Farm Lenders Ranked by Dollar Volume, visit https://www.aba.com/news-research/research-analysis/top-100-agricultural-banks-by-dollar-volume.

April 9, 2021 | 12:06 am

Share this Article

Other articles you may like

Discussion about this article