Area Growth Reflected in Banking

As part of our series on the banking systems here in Seymour, it was discovered that the largest percentage of growth in the banking market has been in home financing. Growth in the Seymour area has skyrocketed in the past five years. With a rate of 180% growth in population, one major system effected is the banking industry. Home loans and construction development financial contracting has lead the way to major growth in the systems of banking here in Seymour. Over half of banking capital growth came in the category of mortgage lending.

Home equity loans, geared to reconstruction, have had phenomenal effects for the small businesses dealing in home repair and redecoration. “We have had more business in the past 19 to 24 months than we had in the last 4 years. Nothing can compare to it,” quoted D.L. subcontractor for a large construction firm.

Home mortgage lending, as researched by totals for growth in the past 12 months, has had the greatest effect on banking systems within the Seymour district. Banks and home developing markets have documented upwards of 85% growth in their total income has come from home building.

“Of all the aspects of finances we handle, home mortgage lending has been the one that leads the way. We have seen an 83% growth in the mortgage-lending department. It has been the best ever, as recorded in recent history here. Although we are a full service facility with availability at all extensions, mortgage lending has had the greatest effect on our business here in Seymour,” responded Larry Stoffle, vice president of Home Federal Bank of Seymour. “We consider our customers the number one priority and try to facilitate them in any way we can. Home mortgage lending is the most effective way to accomplish that. Over 20 million dollars has come our way in the past 12 months, 100% of the total for new loans being residential. Processing is handled as quickly as possible to allow for the customer to fulfill their dream for a home,” Stoffle said.