Citizens Bank 1st ever Community Bank to be Named SBA Lender of the Year
More than Doubles Small Business Lending, the heart of our community
Sandusky, OH, December 2, 2008 –Citizens Bank has been awarded the SBA Lender of the Year - Community Bank Division, from the Small Business Administration Cleveland District Office. Amidst large bank failures and a nationwide credit crisis, community banks have increased their SBA Lending for the 2008 fiscal year (ending September 30th) by over one third from 2007. Citizens Bank led the community bank group by more than doubling their small business lending, where 90% of the nation’s jobs reside.
Jim Miller, Citizens Bank President and CEO, remarks, “We are proud to be the first community bank awarded the title SBA Lender of the Year. Citizens Bank extends congratulations to our fellow community banks that were also able to increase SBA lending at a time when most of our larger competitors were tightening their credit limits.”
Criteria for the SBA Lender of the Year require a local community bank to complete the highest number of SBA Loans in the designated fiscal year. Citizens Bank led this pack by more than doubling their SBA loan volume in 2008. There are currently 29 banks in the Cleveland District, which have increased their SBA lending by one-third since 2007.
“Citizens Bank works hard to provide the best financing options to our business owners. The SBA provides smart options, which are often the right choice for our clients.” said Douglas J. Gates, SVP Commercial Lending.
In a review of the 2008 fiscal year, the SBA Cleveland District Office decided to create a Community Bank Division for the 2008 SBA Lender of the Year. Prior to 2008, all banks were grouped into the same division. The community bank distinction was made because the majority of large banks decreased SBA loan volume and small to mid-sized banks increased SBA Loan volume over the past year. SBA plans to continue this category in future years. Citizen’s SBA Lender of the Year Award was presented by
U. S. Senator Sherrod Brown and Gilbert Goldberg of the SBA’s Cleveland District office.
About The Citizens Bank
The Citizens Banking Company is the banking subsidiary of First Citizens Banc Corp., a holding company with assets of approximately $1.1 billion headquartered in Sandusky, Ohio. The Citizens Banking Company markets itself as Citizens Bank and Champaign Bank. Citizens Bank strives to move customers ahead in consumer banking, business banking, mortgage lending and wealth management.
About the SBA
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. We recognize that small business is critical to our economic recovery and strength, to building America's future, and to helping the United States compete in today's global marketplace. Although 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. For more information on the SBA, go to www.SBA.gov.
- SBA
Cleveland District Office
Gilbert Goldberg – presented the award to the bank on Friday
Gilbert.goldberg@sba.gov
1350 Euclid Avenue, Suite 211
Cleveland, OH 44115
Phone: (216) 522-4180
Fax: (216) 522-2038
TTY
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