SBA Honors Community Trust Bank, 2013 - 2014

SBA Honors Community Trust Bank as Kentucky’s Top SBA Community Bank Lender, 2013 – 2014

December 16, 2014

PIKEVILLE, KY. – 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 2013 – 2014. This is the sixth consecutive year that Community Trust has received this award from the SBA. 

In the federal fiscal year 2013 – 2014, Community Trust Bank funded 98 SBA loans for more than $17.5 million. In Kentucky alone, the bank funded 84 loans totaling $14,245,100 . In the last six years, Community Trust has funded more than 500 SBA loans, providing approximately $85 million for small businesses through its partnership with SBA.

Community Trust Bank, Inc. has been originating loans for over 111 years. They have been an active participant in the government’s SBA programs for many years. In all, 25 loan officers at Community Trust Bank's 81 locations in Kentucky, West Virginia and Tennessee were successful in obtaining SBA loans for their customers during the year.

  • Bob Watson in Versailles, Kentucky was the top SBA lender in number of loans for the sixth consecutive year. Mr. Watson closed or increased 22 SBA loans for $1,213,200. He received a special Louisville Slugger bat engraved with his name as a six-time member of SBA's Kentucky "All-Star" Team at the recent SBA Lender's Conference held at Churchill Downs in Louisville, Kentucky.
  • Larry Forester in Lexington, Kentucky had the second-highest number of SBA loans in the Company with 15 loans closed or increased for $1,354,800.
  • Steve Belcher in Pikeville, Kentucky had the highest dollar amount of SBA loans, with three new loans for $6,526,609.
  • Clovis Lawless in Summersville, West Virginia closed or increased six loans for $661,000. Mr. Lawless also recently accepted an award for Community Trust Bank from the West Virginia SBA Office recognizing CTBI as the West Virginia "Community Bank Lender of the Year."
  • Jody Thompson in Pikeville, Kentucky closed five new loans for $1,705,000.
  • Chris Castle in Versailles, Kentucky closed five new loans for $864,300 .
  • Evan Chick in Hazard, Kentucky closed five new loans for $220,000.
  • Robert Brewer in Frankfort, Kentucky closed four new loans for $1,028,000.
  • Tim Houck in Richmond, Kentucky closed or increased four loans for $386,000.
  • Kristy Gross in Ashland, Kentucky closed or increased four SBA loans for $354,200.
  • Nicole Newsome in Pikeville, Kentucky closed or increased four loans for $155,000.
  • Bruce Nichols in Danville, Kentucky closed or increased three loans for $230,000.
  • Reed Caudill in Whitesburg, Kentucky, Scott Osborn in Richmond, Kentucky, Skip Stocker in Harrodsburg, Kentucky and Jeannine Petell in Lexington, Kentucky each closed or increased two loans.
  • Willie Swatzell closed a 504 loan with the bank's portion being $1,236,031.
  • Barry Pennington, Berry Popp, Brett Keene, Brian Bentley, Calvin Capps, Ed Pope and Rhonda Longmire also closed SBA loans during the fiscal year

“We are pleased to once again 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 2015."

SBA has enjoyed a long and productive relationship with Community Trust Bank, and last year they continued to lead the group of community lenders in overall SBA loans in Kentucky,” stated Ralph E. Ross, SBA Kentucky District Director. “Terry Spears is the SBA expert within the Community Trust system. His hard work and know-how are an important reason why so many small businesses benefit from the Community Trust/SBA partnership. Community Trust is a big organization with a big footprint in the Appalachian Region. Jean Hale, Chairman, President and CEO of Community Trust Bancorp, Inc., ties the widely-scattered branches together with the back office in Pikeville, Kentucky. We are grateful for her ongoing commitment to the entrepreneurs of the region. Ms. Hale is a key leader in the Shaping Our Appalachian Region (SOAR) initiative, and SBA cannot thank Jean Hale and Terry Spears enough for their hard work and their continuing commitment to small business lending.

Terry Spears, SBA Officer for Community Trust, said 2015 should be a good year for small businesses seeking SBA-guaranteed loans.

"SBA has implemented some new policies which should greatly benefit small businesses in 2015," said Spears. " The SBA has continued its waiver of the guaranty fee for loans up to $150,000, so we will continue to take advantage of this opportunity to help our customers without having to pass along this cost. Additionally, SBA has continued and expanded its programs to assist veterans. The guaranty fee is waived on SBAExpress loans up to $350,000 for veterans and their spouses. For loans over $350,000, the guaranty fee is discounted 50 percent for veterans and their spouses.

" We plan to continue to use all lending tools available to continue helping 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 $3.7 billion, is headquartered in Pikeville, Kentucky and has 71 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.