With loans of $100,000 or less, the typical bank breaks even or loses money. But one Florida community bank is betting faster turnaround times on small-business loans can help the bottom line.
Huntington Bancshares says it is especially well positioned to benefit from a commercial lending boom that could accompany a revival of U.S. heavy industry, but other lenders also say they are upbeat.
Total loans increased nearly 17% to $19.4 billion as the company’s three main business units each added more than $100 million of new loans year over year.