2021 CSBS Community Bank Case Study Competition Journal

2021 COMMUNITY BANK CASE STUDY COMPETITION

these individuals were not knowledgeable about how they could become qualified for a loan or how to work with a bank to improve their credit scores or opportunities to access banking products. He believes that encouraging financial literacy for minorities would help the Bank provide assistance to and reach out to these individuals, as all banking agencies and associations have financial literacy programs that can be used to educate (T. Williams, Zoom, March 10, 2021). Participating in financial literacy programs would provide large dividends for all involved stakeholders. Conclusion TriStar is a true community bank, and its two largest general loan categories, real estate and commercial loans, make up an average of 88.6% of its total loan portfolio composition. Two types of construction loans grew during 2016–2018 because TriStar supported the growth of the communities it serves. TriStar’s loan portfolio composition experienced overall growth during the past five years because of TriStar’s continued support of small businesses. TriStar’s participation in the Paycheck Protection Program (PPP) resulted in approximately four times its monthly loan volume for April 2020. When a larger bank could not fulfill a $1.8 million PPP loan for a local manufacturing firm, TriStar approved the loan for the firm and the sustainability of the community. Immediately after the Bank had to close its lobbies due to COVID-19 concerns, TriStar made plans and took precautions to reopen for business as quickly and safely as

possible. Once TriStar reopened its lobbies with full staff, the Bank established a call center to help concerned customers as its staff continued to work to serve individuals in its community. TriStar prioritizes workplace diversity by offering employee training and diversified hiring. TriStar seeks the opinions and viewpoints of community members through a diverse community council, community meetings, events, and programs. TriStar also recognizes the importance of supporting local counties through education and created an innovative program that rewards children for academic success. Bank CEOWilliams believes that encouraging financial education for minorities would improve TriStar’s ability to promote diversity, inclusion, and economic fairness. The findings of this case study clearly demonstrate that TriStar Bank is a success story on its own in many ways. Its caring and committed staff and its dedicated, hands-on officers and Board of Directors, as well as its ability to maintain integrity, flexibility, and community awareness in business has given TriStar the distinction of being a leader in a time when true leaders are needed.

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