Western Community Bank was recently invited to participate in a roundtable discussion sponsored by the good folks at Bennett Communications and Utah Valley Business Quarterly. Other Utah County institutions including Far West Bank, Bank of American Fork, Zions Bank, AmBank, and Family First Federal Credit Union also participated. The entire discussion can be found in the Summer 2009 Utah Valley BusinessQ magazine. Here are some highlights from comments made by WCB Executive Vice President, Ed Sanches:
Jeanette Bennett, BusinessQ: How would you describe the current banking environment in Utah Valley?
Ed Sanches, Western Community Bank: The challenges we are facing are unprecedented. But this has brought out more commitment from bankers. There is the old joke about “bankers’ hours,” but the lights are on late in managers’ offices. This is directly related to the commitment bankers now have, not only to their clients, but also to the community they are serving. Bankers are pulling together.
Bennett: The perception exists that it is difficult to borrow money right now. Is that true?
Sanches: No bank right now or finance institution want to bring on new loans that are going to be trouble for them. No bank really ever has. What caused the recession wasn’t commercial banks like ours. In reality, it was the mortgage and investment industry that said everyone deserves a home, no money down. Consumers got in their mind that all banks should offer that. Some banks did get sucked into that and now they are feeling the ramifications. For the majority of Utah Valley banks, it is business as usual for qualified borrowers.
Bennett: What are some examples of good news in our community?
Sanches: Short- and long-term rates are at all-time lows. For those who are qualified, short-term rates are very low. Mortgage rates are very low…Banks in Utah County are, for the most part, strong, well-capitalized and actively looking for new clients. It really is refreshing. There are less people coming in to borrow money, but those who are coming in have the capability to repay what they are asking for…We are in business to lend money.
Region Bank's tips and Tricks. Find locations from Texas to Florida to Virginia,includes details on personal and business banking services, account access, and career opportunities.
Subscribe to:
Post Comments (Atom)
Popular Posts
-
A business plan is an important part of starting a business because it will force you to take a look and really think about what you want to...
-
Your business card is a pint-sized marketing tool that packs a big punch. The first impression that a prospective client will have of your c...
-
My husband and I are going to the bank to apply for a household loan. Any assistance? I'm assuming you'll essentially speak with an ...
-
Make your own business cards with an existing logo I've made business cards about every way you can except scribbling my number on a pie...
-
So it's come to a time when you think a business credit card would be very beneficial to keeping the cash flow consistent and helping tr...
-
I read once a long time ago that all you really need to get started in business is a good idea and a great business card, and I've found...
-
In today's growing credit card industry, there are scores of options from which to choose. Do you go with low interest rates or awesome ...
-
It is quite simple to create a great business card. There a variety of different computer programs available that allow people to make busin...
-
Business cards are a great way to promote yourself and/or your company that you own or work for. Part of running a profitable business inclu...
-
However, the risks of a prolonged recession or depression remain significant. In March, the Wall Street Journal asked about 50 economic f...
No comments:
Post a Comment