Independence Bank, Owensboro’s largest with $1.06 billion in deposits, Thursday announced several leadership changes as it begins transitioning to employee ownership in the future.
Independence Bank has been recognized at the national level for its dedication to agricultural lending.
Kayla Altman with Independence Bank says their talented team of Agricultural Loan Officers landed the bank in the top 100 farm lenders by dollar volume in the nation, according to the American Banker Association. She says with over $288 million in total farm loans at year end 2020, Independence Bank was the only bank in Kentucky recognized on the list that was compiled using the quarterly Call Report data available from the FDIC.
Chief Lending Officer Greg Mullican says over 18 percent of the banks current loan portfolio is agriculture related. He adds that’s because they have made a conscious decision to position themselves as specialists in the area of ag lending. He says farming is about more than fiscal responsibilities; it’s about maintaining a legacy and reaping a harvest that you can be proud of and their lenders know that. He notes what they do every day across all ar