WASHINGTON – U.S. Senator Mary L. Landrieu, D-La., Chair of the Senate Committee on Small Business and Entrepreneurship made the following remarks after the U.S. Treasury Department announced the release of the next wave of Small Business Lending Fund (SBLF) capital totaling $418 million.
“We worked tirelessly to pass this public-private partnership last fall during the Small Business Jobs Act debate,” Senator Landrieu said. “The Small Business Lending Fund gives small businesses the necessary conduit—community banks—to provide an avenue for capital, a path to expand their business and create jobs.
“Today, First NBC Bank Holding Company stands among eighty community banks that are working to revitalize the U.S. small business economy, and I am pleased to see First NBC taking advantage of this critical program.”
According to the U.S. Treasury Department, First NBC Bank Holding was one of 37 banks that received SBLF funding as part of today’s announcement include:
• Oak Valley Bancorp (Oakdale, California) -- $13.5 million
• Silvergate Capital Corporation (La Jolla, California) -- $12.4 million
• Summit State Bank (Santa Rosa, California) -- $13.8 million
• BNC Financial Group, Inc. (New Canaan, Connecticut) -- $11.0 million
• SBT Bancorp, Inc. (Simsbury, Connecticut) -- $9.0 million
• Community Bank Delaware (Lewes, Delaware) -- $4.5 million
• Bank of Central Florida (Lakeland, Florida) -- $7.0 million
• Jefferson Bank of Florida (Oldsmar, Florida) -- $3.4 million
• Community Illinois Corporation (Rock Falls, Illinois) -- $4.5 million
• Tri-County Financial Group, Inc. (Mendota, Illinois) -- $20.0 million
• First Savings Financial Group, Inc. (Clarksville, Indiana) -- $17.1 million
• Equity Bancshares, Inc. (Wichita, Kansas) -- $16.4 million
• UBT Bancshares, Inc. (Marysville, Kansas) -- $16.5 million
• First NBC Bank Holding Company (New Orleans, Louisiana) -- $37.9 million
• Island Bancorp, Inc. (Edgartown, Massachusetts) -- $4.0 million
• Mercantile Capital Corporation (Boston, Massachusetts) -- $7.0 million
• New England Bancorp, Inc. (Hyannis, Massachusetts) -- $4.0 million
• Rockport National Bancorp, Inc. (Rockport, Massachusetts) -- $3.0 million
• Monument Bank (Bethesda, Maryland) -- $11.4 million
• Crestmark Bancorp, Inc. (Troy, Michigan) -- $8.3 million
• Select Bancorp, Inc. (Greenville, North Carolina) -- $7.6 million
• Community Partners Bancorp (Middletown, New Jersey) -- $12.0 million
• Kinderhook Bank Corp. (Kinderhook, New York) -- $7.0 million
• AmeriServ Financial, Inc. (Johnstown, Pennsylvania) -- $21.0 million
• DNB Financial Corporation (Dowingtown, Pennsylvania) -- $13.0 million
• Jonestown Bank and Trust Company (Jonestown, Pennsylvania) -- $4.0 million
• Valley Green Bank (Philadelphia, Pennsylvania) -- $5.0 million
• Carroll Financial Services, Inc. (Huntingdon, Tennessee) -- $3.0 million
• Evolve Bancorp, Inc. (Cordova, Tennessee) -- $4.7 million
• Independent Holdings, Inc. (Memphis, Tennessee) -- $34.9 million
• SmartFinancial, Inc. (Pigeon Forge, Tennessee) -- $12.0 million
• McLaughlin Bancshares, Inc. (Ralls, Texas) -- $6.6 million
• Third Coast Bank SSB (Humble, Texas) -- $8.7 million
• Heritage Bankshares, Inc. (Norfolk, Virginia) -- $7.8 million
• WashingtonFirst Bankshares, Inc. (Reston, Virginia) -- $17.8 million
• Peoples Bancorp (Lynden, Washington) -- $18.0 million
• Puget Sound Bank (Bellevue, Washington) -- $9.9 million
On July 21, 2010, United States Senator Mary L. Landrieu, D-La., and Senator George LeMieux, R-Fla., along with Senators Jeff Merkley, D-Ore., Senator Barbara Boxer, D-Calif., Maria Cantwell, D-Wash., Patty Murray, D-Wash., and Amy Klobuchar, D-Minn, introduced an amendment, S. Amdt. 4500, The Small Business Lending Fund, to increase capital to small businesses struggling to access lines of credit to hire workers, improve their infrastructure and grow their businesses. The LeMieux, Landrieu amendment was projected to inject billions of dollars through healthy community banks into the small business economy, making money for the taxpayer. On September 27, 2010, President Barack Obama signed the bill into law.
The Small Business Lending Fund was endorsed by several organizations including the Louisiana Bankers Association, Independent Community Bankers of America, the American Bankers Association, the National Small Business Association, the National Association for the Self-Employed, Small Business Majority, the National Bankers Association and the Conference of State Bank Supervisors, among others.
