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5/12/2020 Sixty-One Additional Community Banks Across the Country Receive $608 Million to Help Small Businesses Access Capital, Create New … U.S. DEPARTMENT OF THE TREASURY Press Center Sixty-One Additional Community Banks Across the Country Receive $608 Million to Help Small Businesses Access Capital, Create New Jobs 9/14/2011 Total of 191 Banks Have Now Received More Than $2.4 Billion in Funding Through Small Business Lending Fund WASHINGTON – Today, the U.S. Department of the Treasury announced that an additional 61 community banks across the country received a total of $608 million as part of the next wave of funding provided through the Small Business Lending Fund (SBLF). The SBLF, which was established as part of the Small Business Jobs Act that President Obama signed into law, encourages community banks to increase their lending to small businesses, helping those companies expand their operations and create new jobs. Including today’s announcement, 191 community banks have now received more than $2.4 billion in SBLF funding. Additional SBLF funding announcements will be made in the weeks ahead. “There is no task more important than strengthening our economy and creating jobs, and this investment in small businesses across the country will help us achieve that goal,” said Deputy Secretary of the Treasury Neal S. Wolin. “By incentivizing community banks to extend billions of dollars in much-needed credit to small businesses, the Small Business Lending Fund can spur growth and put Americans back to work in communities nationwide.” Small businesses play a critical role in the U.S. economy and are central to growth and job creation. Small businesses employ roughly one-half of all Americans and account for about 60 percent of gross job creation. But small business owners faced disproportionate challenges in the aftermath of the recession and credit crisis, including difficulty accessing capital. The SBLF helps small businesses meet this challenge by providing capital to community banks that hold under $10 billion in assets. The dividend rate a community bank pays on SBLF funding is reduced as that bank increases its lending to small businesses – providing a strong incentive for new lending to small businesses so they can expand and create jobs. For more details on the SBLF program, please visit, link and link. The SBLF is one part of the Obama Administration’s comprehensive agenda to help small businesses access the capital they need to invest and hire. The State Small Business Credit Initiative (SSBCI), which is also a key part of the Small Business Jobs Act, allocates $1.5 billion to new and existing state programs that will leverage private financing to spur $15 billion in new lending to small businesses and small manufacturers. The Obama Administration has also supported 17 direct tax breaks that provide tax relief of more than $50 billion for small businesses. These tax breaks were designed to support job creation and retention, entrepreneurship, investment, and growth. The Administration has also worked with Congress to extend and expand existing Small Business Administration loan programs that helped put more than $42 billion in the hands of small businesses and deliver other important benefits to help small businesses expand and hire. The 61 community banks that received SBLF funding as part of today’s announcement include: Rock Bancshares, Inc. (Little Rock, Arkansas) -- $6.7 million First Service Bancshares, Inc. (Greenbrier, Arkansas) -- $7.7 million The Private Bank of California (Los Angeles, California) -- $10.0 million 1st Enterprise Bank (Los Angeles, California) -- $16.4 million Seacoast Commerce Bank (Chula Vista, California) -- $4.0 million Steele Street Bank Corporation (Denver, Colorado) -- $11.4 million CoBiz Financial Inc. (Denver, Colorado) -- $57.4 million CIC Bancshares, Inc. (Greenwood Village, Colorado) – $1.8 million Greater New Haven Community Loan Fund (New Haven, Connecticut) --$525,000 The Peoples Bank of Talbotton (Talbotton, Georgia) -- $890,000 Resurgens Bancorp (Atlanta, Georgia) -- $3.0 million Two Rivers Financial Group, Inc. (Burlington, Iowa) -- $23.2 million First Community Financial Corporation (Elgin, Illinois) -- $6.1 million First Eldorado Bancshares, Inc. (Eldorado, Illinois) -- $3.0 million First Bankshares Trustshares, Inc. (Quincy, Illinois) -- $10.0 million Merchants and Manufacturers Bank Corporation (Joliet, Illinois) -- $6.8 million Town and Country Financial Corporation (Springfield, Illinois) -- $5.0 million Community First Bancorp, Inc. (Fairview Heights, Illinois) --$7.0 million Bern Bancshares, Inc. (Bern, Kansas) -- $1.5 million CB Bancshares Corp. (Weir, Kansas) -- $190,000 Osborne Investments, Inc. (Osborne, Kansas) -- $1.0 million Magnolia Bancshares Inc. (Hodgenville, Kentucky) -- $2.0 million Ouachita Bancshares Corp. (Monroe, Louisiana) -- $17.9 million Provident Bancorp, Inc. (Amesbury, Massachusetts) -- $17.2 million Financial Services of Winger, Inc. (Fosston, Minnesota) -- $4.1 million Kerkhoven Bancshares, Inc. (Kerkhoven, Minnesota) -- $1.5 million MidWest Bancorporation, Inc. (Eden Prairie, Minnesota) -- $5.1 million BankFirst Capital Corporation (Macon, Mississippi) -- $20 million Cardinal Bancorp II, Inc. (Washington, Missouri) -- $6.3 million Bancorp of Montana Holding Company (Missoula, Montana) -- $1.5 million https://www.treasury.gov/press-center/press-releases/Pages/tg1297.aspx 1/2 5/12/2020 Sixty-One Additional Community Banks Across the Country Receive $608 Million to Help Small Businesses Access Capital, Create New … First Bancorp (Troy, North Carolina) -- $63.5 million Live Oak Bancshares, Inc. (Wilmington, North Carolina) -- $6.8 million Wilber Co. (Lincoln, Nebraska) -- $12.0 million The Nashua Bank (Nashua, New Hampshire) -- $3.0 million Stewardship Financial Corporation (Midland Park, New Jersey) -- $15.0 million Regal Bank (Livingston, New Jersey) -- $7.0 million Pathfinder Bancorp, Inc. (Oswego, New York) $13.0 million Community Independent Bancorp Inc. (West Salem, Ohio) -- $2.3 million Grand Capital Corporation (Tulsa, Oklahoma) -- $5.2 million Penn Liberty Financial Corp. (Wayne, Pennsylvania) -- $20.0 million Franklin Security Bancorp, Inc. (Plains, Pennsylvania) -- $7.0 million MileStone Bank (Doylestown, Pennsylvania) -- $5.1 million GrandSouth Bancorporation (Greenville, South Carolina) -- $15.4 million TCB Corporation (Greenwood, South Carolina) -- $8.6 million BHCB Holding Company (Rapid City, South Dakota) -- $2.0 million Merchants and Planters Bancshares, Inc. (Bolivar, Tennessee) -- $2.0 million Southern Heritage Bancshares, Inc. (Cleveland, Tennessee) -- $5.1 million CapitalMark Bank & Trust (Chattanooga, Tennessee) -- $18.2 million Planters Financial Group, Inc. (Clarksville, Tennessee) -- $22.0 million Sequatchie Valley Bancshares, Inc. (Dunlap, Tennessee) -- $5.0 million BMC Bancshares, Inc. (Dallas, Texas) -- $1.2 million Happy Bancshares, Inc. (Amarillo, Texas) -- $31.9 million AIM Bancshares, Inc. (Levelland, Texas) -- $9.1 million Joaquin Bankshares Inc. (Huntington, Texas) -- $3.9 million Southwestern Bancorp, Inc. (Boerne, Texas) -- $1.5 million LCA Bank Corporation (Park City, Utah) -- $2.7 million Nicolet Bankshares, Inc. (Green Bay, Wisconsin) -- $24.4 million Northern Bankshares, Inc. (McFarland, Wisconsin) -- $22.0 million Deerfield Financial Corporation (Deerfield, Wisconsin) -- $3.7 million First American Investment, Inc. (Hudson, Wisconsin) -- $1.7 million MVB Financial Corp. (Fairmont, West Virginia) -- $8.5 million https://www.treasury.gov/press-center/press-releases/Pages/tg1297.aspx 2/2
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