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Which Birmingham Banks are Lending the Most?
Birmingham, AL – For years, businesses have been citing a lack of lending from banks as an obstacle to growth.
As I noted yesterday, however, Birmingham banks are clearly lending more. Locally headquartered banks had a 7.7 percent increase in total loans and leases for the first quarter, with commercial and industrial loans accounting for the bulk of the growth.
But which banks’ loan portfolios are posting the most growth? I crunched the most recent to find out.
AloStar Bank of Commerce saw its total loan outstanding grow the most at 82.7 percent. The bank posted $570.5 million in total loans and leases at the end of the first quarter, compared to $312.3 million a year earlier. AloStar Bank of Commerce’s total commercial and industrial loans were to $486.2 million, up 161.6 percent from $185.8 million at the end of the first quarter in 2013.
National Bank of Commerce and Cadence Bank were neck-and-neck percentage wise with balances increasing by 26.8 percent and 25.7 percent, respectively. National Bank of Commerce, whose parent company recently made a big buy in Florida, reported $567.6 million in total loans and leases as of March 31. Its commercial and industrial loans grew by 26.3 percent over the previous year to $72.7 million. Cadence Bank posted $5.1 billion in total loans and leases as of March 31. Its commercial and industrial loans were up 46.8 percent to $2.8 billion.
Other banks that reported at least 10 percent growth in total loans outstanding were ServisFirst Bank (18.8 percent to $2.5 billion), First Partners Bank (17.5 percent to $126.3 million), BBVA Compass (15.3 percent to $45.8 billion), Oakworth Capital Bank (13.9 percent to $179.8 million), Central State Bank (13.4 percent to $106.4 million) and The Hometown Bank of Alabama (10 percent to $158.6 million).
Lending at Birmingham’s largest bank, Regions Bank, was flat over the previous year . It reported $76.1 billion in total loans and leases as of March 31.