Saturday, January 29, 2011

Praising community banks........again

Faithful readers will know that I am a fan of community banks.
Fair, or not, my perception is that the big city banks take from
small towns without adding back consistent significant value. 
Community banks, on the other hand, are in the value adding
business.

You may have read that the credit markets have been in turmoil
for the past three years and the loans are hard to come by.  The
data below suggests that Newark's community bank, Park
National Bank, has stepped up its game.  Whether you care to
measure by dollar volume or loan volume, Park National is
leading the pack in making financing available in Licking
County.

Here is an extrapolation of statistics of mortgage lending
in Licking County for the year 2010.  It is based on data
available from the office of the Licking County Recorder and if
not 100% accurate, it is close enough to paint the picture.


                                                                              Dollar
                                            Number of            amount of
            Lender                      mortgages            mortgages

The Park National Bank...........1,386..............$151,846,118

JP Morgan Chase Bank..............369................$52,222,299 

Fifth Third Mortgage Co............268.................$41,823,777

Wells Fargo Bank NA..........  .....242.................$37,852,664

Huntington National Bank..........394.................$36,963,793

First Federal S & L Newark..  ....363.................$35,721,221

Union Savings Bank...................187.................$28,045,114

First Place Bank........................136..................$23,664,528

Third Federal S & L
Cleveland..................................122..................$20,930,975

Hopewell Federal Credit
Union........................................197..................$18,425,691

PNC Mortgage............................89...................$13,871,287

Fiberglas Federal Credit
Union.......................................211...................$13,768,920

Farm Credit Services of Mid-
America FLCA..........................66....................$12,671,101

Bank of America NA.................58......................$8,046,921

Heartland Bank..........................66......................$7,718,236

Peoples Bank NA................................................$7,025,000

PNC Bank NA............................86......................$6,667,347

Fifth Third Bank.........................85......................$6,531,097

Century National Bank
(Park Affiliate)...........................38.......................$6,031,438

Real Living Mortgage LLC.........39.......................$5,040,207

                                               ___________________________

Total ................................................................$534,867,734

1 comment:

  1. Steve,

    Thank you for bringing this to our attention and let's also note the local credit unions are doing their share as well.

    Jim Johnson
    President/CEO
    Hopewell Federal Credit Union

    ReplyDelete