Central National Bank Supports Small Business
By K.J. WEBB
Editor at Large
Central National Bank has been serving Oklahoma communities for nearly 100 years. Established in 1913 in Enid, Okla., the bank has grown to eight locations with the most recent branch opening in Tulsa at 48th Street and Lewis Avenue. Other branches serve the Enid, Bartlesville, Blackwell, Woodward and Mooreland communities. The bank serves primarily agricultural customers in the western part of the state and small businesses in the eastern region.
Senior Vice President and East Regional Manager of the Tulsa Branch, Kip Herburger, has spent his entire career in banking. “I started working in banking in college, really liked it and have stayed with it.”
Herburger worked for ten years at Bank of Oklahoma followed by his move to Central National two years ago. “Central National Bank is a community bank that offers larger services to our customers, both commercial and individual. We are very strong on the tech products offering Internet banking, electronic bill pay, and remote deposit transfer from anywhere in the U.S. just by scanning a check directly to the bank.”
This scanning service allows customers to bank from their offices for nearly every need. Once equipped with the system, customers can scan in deposits saving time and gas spent driving to the bank. Herburger says that Central National Bank is very focused on not only serving customers’ needs, but also anticipating them.
“We try continuously to stay one step ahead. We take pride in our advanced technological capabilities and feel that this is one of the factors that differentiates us from the competition,” Herburger says.
Another important characteristic of Central National’s strategy is its local, personalized focus and commitment to small business. “We are oriented toward personal relationships with our customers. We deal directly with our individual and commercial customers. Instead of relying on the government to provide stimulus to small businesses, we do.”
Dealing directly means traveling to their locations to develop personal relationships and a good understanding of their customers’ businesses and needs. “We really make an effort to support our customers in all ways possible. We believe very strongly in supporting economic growth and growing jobs by supporting small businesses rather than small businesses having to rely on the federal government.”
This belief is evident from Central National’s recent program to support the growth and success of small business, both agricultural and commercial. Herburger explains, “In the beginning of December we started a campaign that ran for two months to help expand small businesses, provide jobs and grow the economy. We set aside $10 million specifically for small business loans. The program offered loans at lower rates, a quick turn around, less paperwork and less red tape.”
The response to the program was enthusiastic with up to $250,000 per loan being made to businesses to purchase agriculture equipment, business equipment and to cover other expenses that business incur when starting up or expanding. “This program was successful because it is based on the American Way, self-reliance and finding solutions without relying on D.C. to step in and solve every problem. We do all we can to support this principle.”
When asked about the increasing regulation that banks face, Herburger says, “There is increased regulation but it hasn’t affected us to the degree it has other banks. Regulators have tightened up the consumer sector of banking with more restrictions on how you can make consumer loans and commercial loans.” Herburger attributes some of the banking industry problems to venturing outside of the typical markets. “A lot of banks expanded into other markets and other parts of the country, places where the economy is really struggling. We have been insulated to a degree in the Midwest, and we stayed in our markets and have been able to maintain strong books.”
He adds, “We feel optimistic about Oklahoma’s economy and opportunity for growth. Our customers’ balance sheets are strong and getting stronger. We will continue to do all we can to support our customers, small business, and do what we can to help grow the economy and jobs.”
For more information visit www.cnb-ok.com.
Updated 03-01-2012
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