John D. Steinmetz - Small Banks to Play in Big Leagues

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Saving the Mid-Sized
Companies - Small banks
to play in the big leagues

HVista aBannk ding out big loans

Established as a community bank, Vista Bank is giving
out loans of up to $300 million to help save midsize
companies in Texas.

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108 year old Bank

15 location community bank is taking part in
the one of the biggest loan programs
introduced in the US.

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$1 Billion loan handout

One of the 19 lenders in Texas to
participate in the Federal Reserve’s
Main Street Lending Program.
Vista Bank CEO John Steinmetz
says that they could do $ 1 Billion in
loans.

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PPP was introduced for companies
with less than 500 employees with a
loan amount of $10 million in total.
Main Street loans range from
$250,000 to $300 million for
companies with 15,000 or fewer
employees.

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Setting up an example

As a requirement for the bank to take 5%
share in the program, Vista Bank could
loan out #300 million compared to the
normal lending limit of $20 million. John
D. Steinmetz, the first CEO outside the
family told that they could use the 5% rule
to go beyond the regular limit.

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“It’s given us the opportunity to compete
with big banks like Wells Fargo that are
normally too large to compete with due to
our legal lending limit,” John Steinmetz
said.

Contact

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