The recent COVID crisis shone a spotlight on community banks and the vital connection they have to America’s small businesses.
WOODLAND PARK, COLORADO, UNITED STATES, September 10, 2020 /EINPresswire.com/ — Park State Bank & Trust (PSBT) recently announced that Kathryn Perry was hired as Vice President of Lending. In April, Perry joined PSBT as a temporary contractor to manage the PPP lending process during the height of the COVID crisis. As of August 1, she has become a permanent team member and continues to oversee COVID relief measures, manages the Loan Administration team and has taken on a mixed loan portfolio.
Perry is now available for both consumer and commercial lending. She has come full circle back into the banking world after beginning her banking career with the Resolution Trust Corporation and Citibank in the 1980’s and 90’s. Her love of the banking world stems from her passion for small businesses.
“I did not intend to go back into banking, but COVID changed a lot of things for many people. When PSBT committed to participate in the PPP program, I was able to offer additional assistance to facilitate the program, instead of the bank having to pull the loan officers away from continuing to serve and build their existing portfolios,” said Perry.
During the PPP process, in the April to August lending window, Perry processed applications from nearly 400 local small businesses, completing 215 loans for just over $5 million. “More than 1050 local jobs were protected, at least temporarily,” said Perry, “and we’re still working on more assistance and more recovery.” PPP loans were made to every qualified applicant, regardless of whether they were a current PSBT customer. “As we anticipate a second round of PPP lending for those businesses most severely impacted by COVID restrictions, PSBT stands poised, ready to facilitate getting help to those businesses as quickly as possible,” Perry added.
It was a natural segue for Perry to make the move into further developing the bank’s small business lending program in Teller, Park, Fremont and even El Paso counties. “If you can see Pikes Peak, PSBT wants to serve you. My goal is to get out and about into all those communities to let people know that if you are ready to take your goals to the next level, PSBT is here to serve you,” she said.
The recent COVID crisis shone a spotlight on community banks and the vital connection they have to America’s small businesses. Over 80% of PPP loans were originated by true community banks, demonstrating their ability to serve local businesses in a way that national banks cannot or will not.
“I love interacting with small businesses,” said Perry. “The challenges that our sole proprietors and our local small businesses face are numerous and ever changing. Most of our small businesses started from the owners having a unique talent. Being good at running a business doesn’t necessarily go hand and hand with that wonderful unique talent that’s serving the community, and that’s where we can support with resources to strengthen businesses.” Perry continued.
“I have spent many years mentoring small businesses, and my new position with the bank offers a further opportunity to invest in our local community and help small businesses grow. Some people think that they can’t qualify for a loan. I say that you never know until you try,” said Perry. “Sometimes getting a loan can be the springboard to take a family or small business to the level that they could have never achieved without that assistance. We have a wide array of options available and even if a loan is not the cards right now, our goal is to look at all the factors and determine what it will take to get to the approval.”
Perry explained that confidentiality is paramount to all of the staff at PSBT. “Any community member, no matter who they are, can feel completely safe, knowing that personal information and every other personal detail is kept strictly private, with only necessary team members involved in any transaction.”
When asked what makes Park State Bank & Trust different from other financial institutions that are available in our community, Perry said, “Particularly in this most recent crisis, locals got to see the beauty of having a true community bank. It’s all about relationships. I have lived in the community for nearly 20 years, raised my kids here. This bank understands the challenges that our local residents and our local small businesses face. We’re in the trenches with you – that’s what a community bank is all about. PSBT is still locally and privately held, and the majority owners have been in banking in Colorado now for four generations. We pride ourselves on being YOUR community bank.”
“Everybody knows that PSBT, along with other local banks, faced significant challenges during the last financial crisis. The difference with this financial crisis is that Park State Bank and Trust is as strong as it’s ever been. We are able to look outward to serve, not inward to recover. We are ready to stand with the community to get through these challenges. We are here to make investment in the community to see our small businesses expand and grow.”
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About Perry: After graduating from Texas Christian University with a Bachelor of Science degree, Kathryn went to work for the Resolution Trust Corporation (RTC) resolving failed savings and loans in Texas. In addition to consolidating the single family loan portfolios of 13 failed thrifts and selling that portfolio on the secondary market, Kathryn spent time in credit analysis, appraisal review and loan workout. Serving as an Assistant Vice President for Citibank in the 1990’s, she was responsible for financial analysis for the Insurance Division.
Most in Woodland Park know Kathryn as the CEO for many years of CHOICES, the pregnancy and parenting centers in Woodland Park and Cripple Creek. As a 20-year resident of Colorado and 17-year resident of Woodland Park, Perry is grateful for the privilege of living and working in this community.
About Park State Bank & Trust
A community bank locally owned and staffed. Member FDIC. Equal Housing Lender. NMLS#684265.
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Source: EIN Presswire