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money in the short term, but eventually, customers will go elsewhere. You need to maintain balance between all three constituencies.'*
Notion that the community has been supportive of the new venture. Ewing said that there are benefits to starting a bank at a time with the financial industry is down. Hiring talented people and picking up business from banks in trouble offer potential tor Oak Hill.
“Another thing that's important in today's market is asset quality. We don't have any bad loans on the books." Ewing said, pointing out that they don't plan to add any. “(The loan) has to be (food for the borrower and the lender. If you make somebody a loan that they can’t pay, you're not doing them a favor. You're hurting them. On the other hand, we'll do everything we can to find a solution to help somebody.
“We’ve been in this market. We know the customers we'll be working with, many of whom we've been working with for decades."
Starting a new bank, as one might imugine. is a challenging proposition.
Having started with a business plan, created by year's of experience in the banking industry, organizers are raising tunds and clearing regulatory hurdles, as well as developing branch locations and hiring employees.
“It has put us in the position of what a lot of our small-business customers go through" Ewing said. “We've got a lot better perspective of what it takes to start a small business. Everything needs to be put in place. tVom telephone service to core processing services to hiring people to finding locations."
During this organizational process, the bank is looking to raise between $13 million and $18 million for start-up costs, real estate purchases, customer
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