PIKEVILLE — Community Trust Bank, Inc. was recently honored with the “Gold Lender Award” by the United States Small Business Administration (SBA) as Kentucky’s top community bank SBA 7a lender in 2014 – 2015. This is the seventh consecutive year that Community Trust has received this award from the SBA, which was presented November 20, 2015 at the SBA’s Annual Conference in Louisville, Kentucky.
In the last six federal fiscal years, SBA has authorized more SBA 7a loans in Kentucky for Community Trust Bank than for any lender. Over the last seven fiscal years, Community Trust has closed more than 600 SBA 7a and 504 loans, providing in excess of $100 million for small businesses in the communities it serves.
During the most recent fiscal year, Community Trust Bank closed or increased 101 SBA 7a and 504 loans, representing $19,504,586. In Kentucky, the bank closed or increased 90 loans, totaling $15,694,300. In West Virginia, Community Trust Bank closed or increased seven loans, totaling $1,139,000. In Tennessee, Community Trust Bank closed or increased four loans, totaling $2,671,286.
Community Trust Bank, Inc. has been originating loans for over 112 years. It has been an active participant in the government’s SBA programs for many years. In all, 35 loan officers at Community Trust Bank’s 80 locations in Kentucky, West Virginia and Tennessee were successful in obtaining SBA loans for their customers during the year. These individual lenders include:
* Bob Watson in Versailles, Kentucky was the top SBA lender for Community Trust Bank in number of loans for the seventh consecutive year. Mr. Watson closed or increased 20 SBA loans for $1,112,000. Mr. Watson also received a special Louisville Slugger bat engraved with his name as a seven-time member of SBA’s Kentucky “Heavy Hitter” Team at the recent SBA Lender’s Conference in Louisville, Kentucky.
* Steve Belcher in Pikeville, Kentucky had the highest dollar amount of SBA loans, with two loans for $5,037,000.
* Kristy Gross in Ashland, Kentucky closed five loans for $631,000.
* Bruce Nichols in Danville, Kentucky closed five loans for $328,200.
* Clovis Lawless in Summersville, West Virginia closed or increased four loans for $711,500.
* Jody Thompson in Pikeville, Kentucky closed four loans for $640,000.
* Rich Newsome in Harrodsburg, Kentucky closed four loans for $145,000.
* Mark White closed three loans in Tennessee totaling $918,000.
* Nicole Newsome in Pikeville, Kentucky closed or increased three loans for $470,000
* Robert Brewer in Frankfort, Kentucky closed three loans for $273,000.
* Dave Compton in Pikeville, Kentucky, David Tackett in Prestonsburg, Kentucky, Jeremy Rigney and Scott Osborn in Richmond, Kentucky and Jeannine Petell in Lexington, Kentucky each closed or increased two loans.
* Willie Swatzell in Middlesboro, Kentucky closed an SBA 504 loan in Tennessee with the Bank’s portion being $1,753,286.
* Community Trust Bank employees David Akers, Allen Burner, Brian Clark, Amy Dailey, Mike Damron, Betty Frederick, Tim Houck, Brett Keene, Joe Kenney, Barry Pennington, Ricky Peterson, Berry Popp, Joel Prichard, Andrew Pyles and David Wills also closed SBA loans during the fiscal year.
“Once again we are pleased to receive this honor from the Small Business Administration,” said Mark Gooch, President and CEO of Community Trust Bank, Inc. “Over the years, the relationship with the SBA has been an excellent one for both Community Trust Bank and our customer base, allowing us to offer competitive business loan products across our service area. I’m proud of our employees as we look forward to continued profitable growth in this business in 2016.”
“Community Trust Bank has led the way with SBA lending for many years in Kentucky and is one of the premier community banks in the entire country,” stated Ralph E. Ross, SBA Kentucky District Director. “We thank Community Trust Bank for the commitment shown to small businesses in the region and for making a tremendous difference to communities and local economies.”
Terry Spears, SBA Officer for Community Trust, said 2016 should also be a good year for small businesses seeking SBA-guaranteed loans.
“The SBA has continued its waiver of the guaranty fee for all loans up to $150,000” said Spears. “Also, they have continued special programs for veterans to eliminate guaranty fees on Express loans up to $350,000, and reduce guaranty fees by 50 percent for veterans on all SBA programs.”
“We plan to continue to use all lending tools available to help small businesses grow stronger and to create jobs in the communities we serve,” added Spears.
The U.S. Small Business Administration (SBA) was created in 1953 as an independent agency of the federal government to aid, counsel, assist and protect the interests of small business concerns, to preserve free competitive enterprise and to maintain and strengthen the overall economy of our nation. The SBA recognizes that small business is critical to the United States’ economic recovery and strength, to building America’s future, and to helping the United States compete in today’s global marketplace. Although the SBA has grown and evolved in the years since it was established in 1953, the bottom line mission remains the same. The SBA helps Americans start, build and grow businesses. Through an extensive network of field offices and partnerships with public and private organizations, the SBA delivers its services to people throughout the United States, Puerto Rico, the U. S. Virgin Islands and Guam.
Community Trust Bank is a wholly owned subsidiary of Community Trust Bancorp, Inc. Community Trust Bancorp, Inc., with assets of $3.8 billion, is headquartered in Pikeville, Kentucky and has 70 banking locations across eastern, northeastern, central, and south central Kentucky, six banking locations in southern West Virginia, four banking locations in Tennessee, four trust offices across Kentucky, and one trust office in Tennessee.