OWENSBORO, Ky. – Independence Bank’s team of agricultural loan officers helped put the bank in the top 100 agricultural lenders by dollar volume in the country, according to the American Bankers Association. With a total of over $ 288 million in agricultural loans as of year-end 2020, Independence Bank was the only Kentucky bank recognized on the list compiled from the FDIC’s quarterly Call Report data.
“Over 18 percent of our current loan portfolio is agriculture-related,” said Greg Mullican, chief lending officer. “We made a conscious decision to position ourselves as a specialist in the field of agricultural loans. Agriculture is about more than just tax responsibility; It’s about preserving a legacy and reaping a harvest to be proud of, and our lenders know it. Many of them lived it. What we do every day in all areas of the bank is more than a transaction, it’s about relationships. And I think this kind of customer service has allowed us to stand out in this area. “
From traditional crops to honey bee farms to thoroughbreds, Independence Bank prides itself on being part of an industry that truly serves as a vital force for society, the bank said in a press release.