BILLINGS, Mont., July 29, 2021 (GLOBE NEWSWIRE) – Rocky Mountain Bank, supported by HTLF (Heartland Financial USA, Inc. – NASDAQ: HTLF), has introduced a new home improvement loan for low- and middle-income consumer borrowers. … The new loan product is structured to help low to moderate income borrowers gain access to much needed credit.
“We are proud to launch this new lending product to help the communities we serve,” said Tod Petersen, President and CEO of Rocky Mountain Bank. “Rocky Mountain Bank is committed to meeting the needs of our customers by providing access to credit. The new loan to improve housing conditions will provide loans to those who need it the most. “
The new home improvement loan is secured by the borrower’s primary residence. The loan term is 60 months, the loan amount is from 5,001 to 14,999 US dollars.
This new product is part of a broader Rocky Mountain Bank and HTLF initiative to help consumers in need of credit. IN Forbes Best Bank significantly increased consumer lending in 2021:
- Created a new popular Buy Local loan, which provides a loan of up to $ 5,000 for incidental expenses or to complete your next project while shopping at local stores to support your favorite small businesses.
- Launched a new HELOC promotion in January 2021.
- In January 2021, he launched a new special program for a loan secured by home equity in installments.
Rocky Mountain Bank’s decision to increase consumer lending came at a time when some of the nation’s larger trillionaire banks announced they would end lending, including ending HELOCs for new loan applicants or terminating their personal lines of credit.
“HTLF is a consortium of local banks in 12 states. We have the size and strength of a larger regional bank, but we work with local leadership and make decisions. This enables us to deliver the products and services our customers and communities need, ”said Kevin Karrels, Executive Vice President, Head of Retail Banking.
About Rocky Mountain Bank
Rocky Mountain Bank, a subsidiary of Heartland Financial USA, Inc. and operating under the HTLF brand, is a $ 647 million community investment bank. Rocky Mountain Bank is headquartered in Billings, Montana with offices in Bigfork, Bozeman, Kalispell, Plains, Plentivewood, Stevensville and Whitehall and specializes in business and retail lending and deposit services. Rocky Mountain Bank is an FDIC member and peer housing lender. For more information visit www.rmbank.com or call 406.655.5112.
Heartland Financial USA, Inc., under the HTLF brand, is a $ 18.37 billion financial services company. HTLF has banks serving communities in Arizona, California, Colorado, Minnesota, Iowa, Kansas, Minnesota, Missouri, Montana, New Mexico, Texas, and Minnesota. HTLF is committed to its core commercial business, backed by active retail operations, and provides a diversified portfolio of financial services including treasury management, residential mortgages, wealth management, investment and insurance. Additional information is available on the website www.htlf.com…