It sometimes seems as though there’s a bank on every corner, doesn’t it?
Mega Banks, community banks, credit unions, all with their own colorful brands and slogans, trying to convince you why they’re the best place to take your business banking and business loan needs.
But if you’re a smart business owner, you will take a bit of time to think through the differences between each of these types of banks and decide what’s best for your business, rather than relying on word of mouth–or the loudest commercial out there.
First, What is a Community Bank?
A community bank is a “deposits and loans” financial institution that tends to service customers in a smaller geographic region. They are usually locally owned and operated and tend to differentiate themselves with a high value placed on customer service.
In addition, lending decisions are usually made locally by members of the community who understand the local financial ecosystem and the unique business needs of the communities in which they serve.
Now that you understand what a community bank is, let’s talk about the advantages businesses have when working with a community bank versus a large bank.
Advantage #1: We Understand Small Business Better than “Mega Banks”
Because we are ourselves a small business, we understand the unique needs of small to medium-sized businesses unlike any other type of bank. Relationships are critically important to small business owners, as they rely on them during their times of growth and learning.
Conversely, larger banks are often located in multiple locations throughout a state or in many different states. They often deal with the state’s largest employers and have no “sweet spot” for small businesses the way community banks do.
At NobleBank & Trust, we take a unique approach to working with businesses in that we assign you a dedicated banker that will work with you on all of your business’s needs going forward. No more walking in the bank and taking the first available loan office. Our goal is that your dedicated banker becomes a valued member of your trusted business advisors.
Advantage #2: Community Banks Have a Different Approach to Underwriting Loans
Community banks have local business decision-making abilities when it comes to approving loans. At large banks, however, lending decisions are generally made at the corporate home office, where they have no specific knowledge of the local market needs and rely instead on large loan-approval committees to rubber-stamp your loan–or not.
We at NobleBank & Trust go out of our way to find the very best type of loan for your business. We offer a real working relationship with our business clients and strive to get to know you and your business like the back of our hand. As an Alabama bank, we know your town and your local area’s makeup, so delighting you with our competitive rates and local underwriting is our mission in life.
Advantage #3: We Live in the Same Community as Our Business Customers and Promote Community Growth
When your money is being held at a community bank, the mission of that bank is to use that money to strengthen your “Main Street” economy. After all, when the local community does well financially, so does the community bank! It is clear why a community bank would feel incentivized to make local investments.
When community banks reinvest local dollars back into the local community, they stimulate that community’s economy and help create jobs. This helps with the growth of small and medium-sized businesses.
Advantage #4: We Have the Same Bells & Whistles as the “Mega Banks”!
Mobile deposits? Of course. Online bill pay? You bet. Community banks often have the exact same bells and whistles that large banks have–and NobleBank is no exception. Banking technology is no longer a differentiator that big banks can brag about. At NobleBank, we like to say that we’re High Tech, High Touch.
NobleBank & Trust Wants Your Business and We’ll be Invested in Your Success
At NobleBank & Trust, we are a community bank that is more than just another place to keep your money. We live in the communities in which we work, we sit next to our customers at church, our children play Little League together. We genuinely care about your business, and the relationships we’ve built with hundreds of business owners can attest to this.
Our bank’s Mission Statement reads: “We are the bank of choice because we exceed customer expectations with every contact and every transaction.” Our mission is to serve consumers and businesses in a Godly way. With both our Christian values and our desire to get to know every customer by name, NobleBank should be your top contender for your banking needs.
We will value your business and treat you in a way you won’t find at other banks–that you can “bank” on.
Trust Your Company’s Loans and Banking Needs to Community Bank NobleBank & Trust
NobleBank’s slogan: Friendly. Proactive. Professional. A community bank with “big bank” services and technologies, NobleBank meets the needs of our community and builds value for our business customers in a way you won’t find at other banks. Click here to find a location throughout Central Alabama near you, or give us a call for a consultation that addresses your business’ unique needs at 256-741-1800.