Denver, CO (April 9, 2020)
ANB Bank responded quickly to provide assistance to businesses in need of the Small Business Administration’s Paycheck Protection Program (PPP), with approximately 1,200 PPP approved loans, for a total of $208 million across its market footprint.
“Our teams have been diligently preparing and reaching out to customers over the past few weeks prior to the rollout of the SBA Paycheck Protection Program,” stated Todd Crowley, chief credit officer of ANB Bank. “This program is a lifeline for many of our customers and the funding is limited. Our early outreach and preparation enabled us to ensure our customers have access to these desperately needed funds.”
As a community bank, ANB has focused on personally speaking to our customers and businesses within our communities who have been economically impacted by the COVID-19 outbreak. After directly assisting all businesses through the entire PPP application process, ANB expects these businesses to have funds within the next week.
In addition to speaking directly to customers about the SBA PPP program, ANB Bank banking teams proactively called more than several thousand customers with installment loans, offering a three-month loan deferral program. The teams also called those borrowers with a floating rate to inform them that ANB temporarily removed the interest floors through Dec. 31, 2020.
While ANB has limited capacity with people and resources, ANB will continue to try to provide assistance to others while the PPP program is open. ANB Bank will also continue to work directly with current customers and businesses if they are experiencing financial difficulties and need assistance during the COVID-19 outbreak.
Across the ANB Bank (ANB) footprint, the bank has over 30 banking centers serving customers in Colorado, Wyoming, and the Kansas City metro area. Its parent company is the Sturm Financial Group, Inc., headquartered in Denver, Colo. ANB Bank has financial strength embodied in $2.6 billion in assets, ranks in the top 8 percent of banks nationwide by size and is a true community bank with an unwavering commitment to excellence. The bank helps each of its communities prosper through investment, sponsorship, philanthropy, and employee volunteerism. It is a passion ANB has for banking that makes the difference.