Liberty Bank Hires New Business Development/Loan Officer

SALT LAKE CITY, UTAH  Liberty Bank announces the hiring of Joseph Porter as a Business Development/Loan Officer.  He will is responsible for the development and services of small business loans and commercial loans throughout the Wasatch Front.

Mr. Porter brings his experience in commercial loan marketing and fiance, as well as community bank development and growth strategies.  Mr. Porter has been a consultant in developing local community banking programs and services for over a decade.  He has been a part of several strong banking corporations throughout his career, including: Zions BankCorp and First Security Bank.

“I look forward to working with Liberty Bank in developing their small business lending and commercial loans”, said Mr. Porter.  ”I am focused on developing new business and growth  for Liberty Bank, servicing customers, and working to become a community contributor.”

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About Liberty Bank:  Liberty Bank, a locally owned community bank was founded in 1956 to provide personalized financial services for the Salt Lake City area.  Our experienced professionals are dedicated to providing our customers the highest quality of customized attention based on your needs.  At Liberty Bank we have in-depth knowledge of financial products, as well as our local and national economic conditions.  Our values stand for integrity, fairness and honesty throughout our business.

Media Contact:

julie@libertybankofutah.com

(801) 355-7411

www.libertybankofutah.com

Best Bet For A Small Business Loan- Your Community Bank

Banks vary widely in rejection rate for small-business loansA Biz2Credit study found a wide range in large institutions' rejection rate of small-business loan applications. Bank of America's rate is 13.5%, while PNC Bank's is 2.3%. The study suggests importance for small businesses in building a relationship with a community or smaller bank.Big banks are rejecting most small business loan applications.

Liberty Bank Loves Small Businesses!

Visit the girls at Dailey Method in Cottonwood Heights.
 www.daileymethod.com

Being  a local community bank we have the opportunity to meet amazing entrepreneurs and savvy business owners.  Working with these individuals is what we are all about.  Building and supporting local community businesses.  Come and see us to find out why we are the best choice for your business needs. We are here to help build, grow and maintain your business.  Visit us today at libertybankofutah.com

Small Business Lending on the Rise

To date, banks participating in SBLF have increased lending $4.8 billion over baseline levels — the average lending reported in the four quarters prior to the program's enactment. More than 68% of the program's 332 participants have increased lending by at least 10%, according to Treasury's latest report to Congress released Monday on the use of SBLF funds.

"The loans the participating institutions make mark important progress toward helping to support small businesses and local economies across the nation," Don Graves, Treasury's deputy assistant secretary for small business, community development and housing policy, said in a blog post on the Treasury website Monday.

SBLF participants also increased small business lending by a median of 21.5% over baseline levels, compared to a 1.1% median increase for comparable banks who are not in the program, Graves said.

The program was enacted in September 2010 as part of the Small Business Jobs Act, which allocated $30 billion in capital for eligible community banks, credit unions and community development financial institutions with less than $10 billion in assets.

Liberty Bank of Utah is ready to support small business growth in Utah.  A community bank for over 60 years that has brought many business dreams to reality.