Paducah Bank was recently named one of the nation's top commercial lending banks by the Independent Community Bankers of America (ICBA).
"There’s no doubt that 2019 looked very different than 2020 in all areas of life, and community banking was no exception," said author Ed Avis. "But our top lenders’ exceptional performance last year has set them up for success even in a time of turmoil."
Paducah Bank was one of only two Kentucky banks to make the list for top commercial lenders and the only one in the $500 million to $999 million category.
“In the midst of a health crisis in our country and in our own community, we feel so grateful that our bank has not only been able to maintain a solid financial foundation, but also be able to assist so many individuals and businesses during this truly challenging time,” said Paducah Bank President Mardie Herndon. “This recognition by the Independent Community Bank Association serves as a true validation of our mission to serve our clients and our community with integrity and best practices. Even though we are committed to this mission on a daily basis, it is always very rewarding to have an objective organization confirm our success. This designation speaks volumes about the quality team we have created at Paducah Bank and the passion with which we operate each and every day.”
ICBA identified top lenders by using 2019 FDIC data to score community banks. The score combined the average of the bank's percentile rank for lending concentration and for loan growth over the previous year in each lending category. Scores were adjusted for loan charge-offs in each category at certain percentile thresholds.
Paducah Bank was recently voted as "Best Lender" in the 2020 Paducah Sun Readers' Choice Awards. It was the ninth consecutive win for Paducah Bank. In June, Paducah Bank was notified that it had earned the highest rating that BauerFinancial awards. The bank has earned this 5-star rating for 44 consecutive quarters. The bank also received the distinction of exceptional performance bank from BauerFinancial, a status reserved for banks that have earned Bauer’s highest rating for 10 consecutive years. Paducah Bank also assisted 600 businesses obtain more than $60 million of the Paycheck Protection Program dollars.