First Bank of the Lake named ICBA’s Top Commercial Lender
Independent Banker, the award-winning magazine of the Independent Community Bankers of America (ICBA) and the number-one source for community banking news, recognized First Bank of the Lake, as an ICBA top lender in its July issue. First Bank of the Lake claimed the number 1 spot in commercial lending ($500 million to $1 billion in assets) based on the bank’s commitment to small business lending throughout the United States. Of all the banks recognized, across all categories, First Bank of the Lake had the highest lender score of 99.88 out of 100.
This year’s ICBA Top Lenders made the most of one of the toughest years in recent memory through personal connection, ingenuity, and dedication to their communities. In 2020 with the first round of the Paycheck Protection Program (PPP), First Bank of the Lake helped more than 4,150 small businesses gain access to over $480 million of financial relief. In 2021, First Bank of the Lake closed an additional 7,800 loans and $515 million in PPP funding.
“First Bank of the Lake is honored to be included in this prestigious list of industry top performers,” said Mike Anderson, Chairman, President and CEO of First Bank of the Lake. “I couldn’t be prouder of how our employees have handled the past year. Everyone worked long hours, going above and beyond to help businesses and employees weather the storm. We knew that our efforts would have a real impact on the businesses, their employees and communities across the country, and we were determined to do whatever it took to put small businesses first.”
The annual ICBA list is based on the strength of competitive banking services and operational efficiencies using FDIC data for 2020. Scores were determined by combining the average of the bank’s percentile rank for lending concentration and loan growth over the past year in each lending category and asset size and adjusted for loan charge-oﬀs at certain percentile thresholds.
“ICBA commends First Bank of the Lake and its staff on this outstanding achievement during this important time for our industry,” ICBA Executive Vice President and Chief Marketing Officer Rob Birgfeld said. “The success of this year’s standout performers is testament to their ingenuity, resourcefulness and steadfast devotion to their customers. ICBA is pleased to recognize these institutions for their mastery of the community bank business model and impressive lending results that help create and sustain communities of prosperity.”
About First Bank of the Lake
First Bank of the Lake, headquartered in Osage Beach, Missouri, has been meeting the financial needs of individuals and businesses for over 32 years. First Bank of the Lake provides a full range of deposit products and services, along with consumer, residential mortgage, and commercial lending. The Bank is also an SBA lender throughout the United States. For more information about First Bank of the Lake, please visit www.FBLake.Bank.