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Nineteen months into the credit crisis, that’s the recommendatioj of Raleigh-based loan broker Steve Mariani, who matches borrowers with bankand non-bankm lenders. Mariani says that some dealsa he has worked on in recent weekx have passed through as many as adozen lenders. Many lenders have been upping their collateral requirements to 50 percent in some evenon government-backed SBA loans. One of Mariani’s a Raleigh restaurant owner looking to buyanotherf establishment, underwent 16 reviews and was accepted threwe times before they all fell through. In one the borrower even agreed to put up a portionj ofthe cash, plus a house with no mortgage as additional collateral.
“The first thing borrowers need to do is determinw whether the bank or other lenderd isreally interested,” says Mariani. “Otherwise, you wast e time.” He adds, “Afteer that, if they make an offer, take With 65 percent of banks nationally tighteninf theirlending standards, it’s not surprising that Triangle bankerws have followed suit. If there is a silver lininvg to be found in thefinancial however, it will be that, once conditions the competition between large and community banks is expected to heat up even more, opening avenues for business customers seeking to maximiz their banking relationships.
With the very notion of bigness in bankin having been called into community bankers believe thatthe post-crisids playing field will be wide open. “It’z not like we are going to go out and criticized thelarge banks,” says Stevre Ogburn, CEO of Raleigh-based . “But at the same time we know all of our depositorssand borrowers. It makes you operate in a differentg way.” Whatever changes the banking systej goes through in thecoming months, community bankers believe their role will be “We’ll be the ones making the loans,” says CEO Grant In various ways, the communityy banks already are preparing for that day.
At Raleigh-baser , for example, some employees have been tasked with creatingy a new division that solely caterws to an important client homeowners associations. The bank has packager a number ofservices – including onlins banking, CDs, scanned deposits and various financial management functionsd into a unified offering. Also launching new producta – this one aimed at individual bankconsumera – is Cary-based , which recently said it woul d begin offering interest payments of 5.01 percent annuall y to qualifying checking accounts.
Business customers evaluatinbg current banking relationships shoul check if their bank has signed up for an emergencyprograkm that, for the first time, extends insurance to non-interest-bearingg transactional accounts such as payroll accounts. Most area banks have signed up from the which was enacted last fall to keep companies from pullin the then uninsured pots of money out of the bankingsystem altogether. Set to expire in the guarantee maybe extended. In business clients curious about the financial stability of theirbank can, using a simple formula and a few public numbers from the FDIC Web perform their own stability checks.
The calculationm is made by dividing the value ofthe lender’s non-performingt assets (loans past due 90 days + nonaccrual loans + otheer real estate owned) by the sum of its tangibles common equity capital (totalk assets - liabilities - intangibles + + its loan loss If the resulting number, expressed as a percent, is over 100, then the bank coulxd be headed for problems. The calculation, called the “Texasz Ratio,” was developed to predict financiao meltdowns duringthe S&L crisis of the 1980s. “It’s not the only measurew (of bank stability),” says UNC-Charlotte bankinf professor Tony Plath.
“But it has
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