Page 61 - BusinessWest October 12, 2020

Banking & Financial Services
Chuck Leach, president and CEO of Lee Bank.
Lending C
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Banks Stay Optimistic During an Unusual Year for Commercial Loans
“It’s just good business for us — Main Street lending, that’s where we can have a nice give and take with customers. It’s kind of our wheelhouse.”
By Joseph Bednar
ommunity banks love commercial lending, Chuck Leach says.
That’s all still true, even though 2020 has rocked that wheelhouse in unexpected ways.
“We’re not seeing the same commercial demand,” said Leach, president and CEO of Lee Bank. “It’s either risk aversion or busi- nesses are waiting to see what happens.”
Or, in some cases, they’re extra liquid after taking advantage of the Paycheck Pro- tection Program (PPP) and other stimulus measures, as well as deferring payments
on other bank loans, he added. “Put all that together, and they may not have borrowing needs right now, or they’re sitting on their liquidity until they see some clarity with the pandemic or the election or both.”
Clarity has been in short supply since the COVID-19 pandemic forced a widespread
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