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Cardinal Bank CEO Bernard Clineburg and Gold Coast Bank CEO Joseph Perri on the benefits of community banks for small businesses and consumers.
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700 million dollars it's amazing -- my next guest says.
That running banks you don't have to take a bailout.
And by the way his bank is thriving in its lending.
-- co CEO Joseph Perry and cardinal CEO.
Bernard Kleinberg -- both -- it's not a Mostar would view a joke because.
If it's it's just absolutely amazing how these banks that didn't take any money.
Aren't threatening the US economy.
Are killing that's what these seem to be the ones that are doing the most business with regular people.
Gupta will absolutely where we're more our bank is.
Lending money we've -- Colbert -- million dollars in the last couple of months over fifty million dollars the past year.
And what we do which we basically concentrate.
On exclusively on small businesses where you have the large banks that's not there.
-- Focus how do you what do you make -- this you know we remember the old folks who maybe were met the size of a little bit but -- folksy thing where you can just look the guy any you know you've known -- for about -- Bob for fifteen years and even though the numbers don't add up you know he's -- -- I think are you able to make those -- -- loans are you still have a process that people have to you know sort of make all the parameters well.
Well that's a little bit.
Different now than it was Baghdad but the process.
We do have a process that does that only you don't necessarily approve.
We've developed a process.
And small businesses really like it we're.
They can come in and talk to the president of the bank.
In thirty minutes.
Are -- will give them an indication on their loan.
Bernard -- go to you because again you guys having extraordinary successes while.
Why why -- you guys so successful when the big banks continue to struggle.
But we are relationship focus than most of the time you'll see.
Larger banks they've they zero in on the transactions as opposed to the relationships.
We will go -- to a small business.
Work with the owner.
-- it doesn't matter what -- business and then we have a bank it work program where will send in.
Actually actually have deposit officers that go into each of these businesses.
And work with the individual employees to help them.
Also come over so pricing comes down when you have a relationship as opposed to -- transaction.
And makes it much easier for for all the employees of the bank in the business but we have had double digit lung growth for the last 45 years.
And it has it is just.
Rip me apart when I hear on the TV that.
Banks won't lend money and we're we're doing double digit loan growth one year we were 20% loan growth.
And you're -- little word little bit larger than Joseph but but so that means it's even more money -- -- doubt.
-- yeah here's the thing though Bernard.
Two weeks ago.
The Bank of America -- a little -- another 161000 people we're gonna cut out mortgage operations we're gonna shut down branches and and you know and -- It just kind of baffles the mind.
Do you have any resentment and all that they can always stop up.
To the federal government have at.
Access the taxpayer money by the way was never get that thirteen trillion dollar secured bond that the Fed provided form do you have any resentment at all about this.
Well no we don't we don't bash the big banks but please put my phone number up for those good loan officers that are gonna get laid off.
I would really appreciated we are are tentatively hiring actively hiring.
Don't ask hero quick and I agree with that -- wanna ask you.
When them what do world's falling apart there was a debate about letting these handful of banks -- really say about it was really like six banks everything else is just a cover up.
Letting them go under and.
-- there's thousands of banks in this country.
Every once said if you let them go under we all -- wonder but couldn't those thousands of banks beneath them.
Could have moved up -- -- and I think it would have been messy but couldn't they have stepped in and fill the breach absolutely what would you that is.
You have like regards banks some of the some of the larger banks would have picked up some of the larger companies that you have banks like ours where we focus on small business.
All the community banks across the country.
We have lots of money -- -- And we would have stepped up for -- that so.
In essence we could've picked up the slack yes little messy but it would -- -- Well you don't want to -- great I hope hope I hope everybody watching remembers this.
Next time because I'm afraid these big banks in my mind -- guys they're scary they're opaque they're in trouble.
It's guys like you gotta keep America running my hat's off the -- the -- and we appreciate you coming on tonight.
But I think -- as soon.
