November 14, 2019
By Caity Witucki
Contributing Editor, Coleman Movers & Shakers
Coleman Movers & Shakers — Valley Bank, Jack Engelkes, Tracy French, and First Internet Bank
Valley Bank earns “Preferred Lender” designation
Valley Bank has achieved the U.S. Small Business Administration’s “Preferred Lender” designation, giving the bank the ability to process SBA loans faster than ever before.
“The SBA Preferred Lender designation is an important achievement that reflects our skill in providing small businesses with funding they need to grow,” says Christopher Kneer, Senior Vice President, SBA Division Head at Valley Bank. “By combining our expertise in the markets we serve with our SBA Preferred Lender status, we have the ability to get loans approved quicker than ever before, sometimes shortening the approval process by two or three weeks.”
In addition to receiving their Preferred Lender status, Valley Bank is currently ranked as one of the top SBA lenders in the Tampa Bay region and has been a highly ranked SBA lender in Alabama for several years.
Jack Engelkes Named Vice Chairman of Home BancShares and Tracy French Named Executive Chairman of Centennial Bank
On November 7, 2019, Home BancShares, Inc., parent company of Centennial Bank, announced that Jack Engelkes, Director of Home BancShares, has been named as Vice- Chairman of Home BancShares and Tracy French, President and Chief Executive Officer of Centennial Bank, has been named as Chairman of Centennial Bank.
“Jack was one of our founding Directors at Centennial Bank and has been a Director of Home
BancShares since 2004,” says John Allison, President and Chief Executive Officer of Home BancShares. “He serves on several committees and has poured countless hours into serving our organization. He has a great deal of knowledge of the operations of this company and cares about its success. I am very pleased to have Jack step into the role of Vice-Chairman of Home BancShares. I’m also very pleased that Tracy French will serve as Chairman of Centennial Bank, in addition to his current responsibilities with the Bank.”
First Internet Bank Completes Acquisition
Fishers-based First Internet Bancorp has closed its acquisition of the small business lending division of First Colorado National Bank. The deal is valued at more than $150 million.
First Internet Bank says the balance of outstanding loans acquired September 30 totals $38 million and was comprised of SBA 7(a) loans.
The reported balance of the servicing portfolio acquired is $102 million and consisted of guaranteed SBA 7(a) loans sold in the secondary market.
Officials say a team of experienced SBA loan specialists joined the Bank as part of the transaction.
“This acquisition is consistent with our strategy to diversify our revenue and asset generation channels in a capital-efficient manner,” says David Becker, president and chief executive officer of First Internet Bank. “The portfolio and the team that have joined us today accelerate our momentum in building a nationwide small business platform. We are delighted to welcome aboard these new members of our SBA team.”
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