Simmons First National Corp. (Nasdaq: SFNC) was dethroned as the Springfield-area market leader in U.S. Small Business Administration-backed loans after an 18-year run at the top.
For fiscal 2017 ended Sept. 30, OakStar Bank led in both total loan volume and number of loans, according to data provided by SBA’s Kansas City office showing the top 10 SBA lenders in the five-county Springfield MSA, ranked by total loan value. OakStar issued 43 SBA-backed loans worth a combined $15.3 million during fiscal 2017. However, that’s down from $22.5 million loaned in fiscal 2016, when the bank trailed only Simmons.
Simmons slid to No. 3 with 33 loans totaling $9.8 million. Simmons Bank in 2015 acquired Liberty Bancshares Inc., continuing the company’s SBA lending lead in the Springfield metropolitan statistical area between 1998 and fiscal 2016, according to Springfield Business Journal reporting and list research.
At No. 2, Jefferson City-based Rural Missouri Inc. issued 17 loans in the Springfield market totaling $12.6 million, according to the SBA.
The fiscal 2017 top 10 SBA lenders in the Springfield MSA, by total loan value, are:
• OakStar, $15.3 million;
• Rural Missouri, $12.6 million;
• Simmons, $9.8 million;
• Guaranty Bank, $5.7 million;
• The Bank of Missouri, $4.6 million;
• Springfield First Community Bank, $3.3 million;
• BancorpSouth, $2.7 million;
• Southern Bank, $2.5 million;
• St. Charles County Economic Development Council, $923,000; and
• Mid-Missouri Bank, $782,000.
Search sponsored by:
The 21-year-old is working to graduate in May while cultivating her small business.
“It’s been hard for me to choose. There is a point when I knew I needed to focus on one of these businesses,” says Elle Feldman, owner of Elle’s Patisserie and Lavare Spa (now rebranded as …