Denver, CO (March 20, 2020)
ANB Bank is taking a number of steps to help customers relieve financial stress due to the COVID-19 outbreak’s significant economic impact, including offering a loan deferral program, effective immediately.
ANB recognizes that quarantines, event cancellations, school closures, and business closures are having a significant economic impact on many in the community.
Amid the current uncertainty and likely economic challenges ahead, ANB is taking the following actions to help alleviate financial stress for customers.
- Ensuring that borrowers with floating rate, prime-based loans receive the full impact of the Federal Reserve Bank’s two emergency rate reductions, which total 1.5 percent, by reducing ANB Bank’s prime borrowing rate and temporarily removing interest rate floors through Dec. 31, 2020.
- Offering a three-month deferral of payments for all consumer and commercial term loans that require a monthly principal and interest payment. This includes installment loans, mortgages, home equity loans, commercial real estate loans, equipment loans, and any other loan that requires a monthly principal and interest payment. All customers are eligible; there is no fee or penalty; and there are no requirements to prove need or impact from the coronavirus.
- Working directly with our customers if they are experiencing financial difficulties and need assistance beyond the two actions noted above.
ANB Bank is currently reaching out to all loan customers; however, customers are encouraged to contact their loan officer directly or call the customer care center at 866-433-0282 to proceed with the payment deferral or to discuss other options.
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.