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Patrick True

Patrick True is Risk Manager, Lending Solutions Division. Patrick is a 25 year veteran of the financial industry. He started his career with Commerce Union Bank in 1986 as a commercial lending officer. As Commerce Union eventually became Bank of America, Pat managed portfolios up to $100 million dollars as well as central underwriting functions for the bank’s Tennessee small business and SBA lending units. He is a graduate of Belmont University with a master’s degree from Middle Tennessee State University. Pat began his current position in 1995 and now serves as a Risk Manager for ProfitStars’ commercial lending solutions. He is the author of numerous banking journal articles as well as a motivational book recalling eight years he worked as a riverboat pilot on the Cumberland River prior to his banking career.

Recent Posts

A Four-Pronged Strategy for Growing Core Deposits

Posted by Patrick True

Fri, Nov 22, 2019 @ 08:30 AM

As 2020 draws near, community-centered financial institutions are facing increased challenges when attempting to grow core deposits. In the most-recent CSBS Survey of Community Banks, released in October, core deposit growth ranked higher than any other challenge faced.

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Topics: Commercial Lending, Financial Institution, Digital and Community Banking

The Seven Deadly Sins of Credit Management

Posted by Patrick True

Fri, Nov 15, 2019 @ 08:30 AM

Most of us have heard of the seven deadly sins, but did you know there are also seven potentially damaging actions or inactions that can lead to credit loss? Lenders of all types should consider this list throughout every stage of the loan cycle and for all types of credit. These sins can show up at any time. While in some cases they are the primary cause of a credit loss, they are more likely what causes a loss to be greater than it otherwise would have been had the situation been handled differently. As you begin the new year, consider an open discussion with your consumer and commercial lending staff to ensure no one commits the seven deadly sins of credit management.

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Topics: Commercial Lending, Risk/Fraud

Five Ways Lenders Can Grow Portfolios During Slower Economic Cycles

Posted by Patrick True

Fri, Aug 23, 2019 @ 07:30 AM

Throughout much of 2019, the economic debate has been whether the US economy would enter a recession in the next year or two. In the short term, it appears that the economy keeps moving along, albeit more slowly in some industry sectors. Most economists are predicting slower GDP growth in 2020 than the previous 2 – 3 years. That brings challenges for commercial lenders that wish to grow their loan portfolios during the next twelve months. But there are strategies that can be deployed to nurture growth in any economic cycle. Here are five methods that should be considered when attempting to grow your portfolio, even as the current cycle begins to slow.

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Topics: New & Trending, Commercial Lending, Credit Unions, Community Banks

Four Lessons We Can Learn from Online Lenders

Posted by Patrick True

Fri, Jul 26, 2019 @ 07:45 AM

Each year, the New York Federal Reserve releases a valuable survey that sheds light on the mindset of business owners and their borrowing preferences. Surveys conducted in the past three years point specifically to both the challenges and opportunities community-based lending institutions have in competing with non-chartered online lenders. Here are the key takeaways from the 2019 survey.

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Topics: Commercial Lending, Digital

Tools of the Trade Series, Part Six - Automating Loan Renewals for Future Growth

Posted by Patrick True

Fri, Apr 05, 2019 @ 07:00 AM

We have reached the last segment in our Tools of the Trade series, but in many ways, it is the most important. The act of renewing a loan or line of credit represents the continuation of an existing relationship. While it may not generate as much income as a new loan request, it supports an existing revenue stream and opens the door to future growth.

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Topics: Commercial Lending, Community Banks

Tools of the Trade Series, Part Five - Financing Accounts Receivable

Posted by Patrick True

Fri, Mar 22, 2019 @ 08:00 AM

Non-employer businesses, 24 million strong here in the United States, are critically important to the nation’s economy, comprising 81% of all small businesses, employing 17% of the American workforce, and generating $1.2 trillion in annual sales.* But how are these businesses doing, really? The Small Business Credit Survey (SBCS), a national collaboration of the 12 Federal Reserve Banks, revealed last year that non-employer firms are performing positively overall… despite “notable financial challenges.”

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Topics: AR Financing, Commercial Lending, Small Business, Community Banks

Tools of the Trade Series, Part Four - Creating Efficiencies Throughout the Life of the Lending Relationship

Posted by Patrick True

Fri, Mar 08, 2019 @ 07:00 AM

In part three, we discussed how technological innovations have changed the landscape of loan origination in recent years. That, in fact, has been where most tech investment in commercial lending seems to have been directed. But loan origination is just the beginning. So much more can be done to create efficiencies throughout the life of each lending relationship. As in the case of loan origination, these efficiencies will streamline the efforts of both borrowers and lenders and create a richer experience.

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Topics: Commercial Lending, Fintech, Digital and Community Banking, Digital, Community Banks, FI Operations, Data and Analytics

Tools of the Trade Series, Part Three: Using Loan Origination Strategies to Create Efficiency

Posted by Patrick True

Fri, Feb 22, 2019 @ 07:00 AM

In recent years, financial institutions have been evaluating their commercial and small business loan originating processes. This has included a close look at the experience currently offered to loan applicants, credit officers, and credit administration staff. Recent trends in technology have created a renaissance in commercial lending.

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Topics: Commercial Lending, Fintech, Digital and Community Banking, Digital, Community Banks

Tools of the Trade Series, Part Two: Omnichannel Delivery Creates the Ultimate Customer Experience

Posted by Patrick True

Fri, Feb 08, 2019 @ 07:00 AM

 One of the most important topics of conversation among financial institutions in recent years has been the issue of delivery channels. This has taken two forms. Some articles have focused on demographic shifts, including the growing number of millennial clients and the beginning of baby boomer retirement trends.

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Topics: Commercial Lending, Fintech, Digital and Community Banking, Community Banks

Tools of the Trade Series, Part One: Enhanced Digital Banking Experiences

Posted by Patrick True

Fri, Jan 25, 2019 @ 07:00 AM

 

What can we do to enhance customer experiences, grow revenue, and increase efficiency? The senior management teams at every financial institution should be asking this question each morning when they arrive at work.

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Topics: Commercial Lending, Fintech, Digital and Community Banking, Community Banks

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