By a News Reporter-Staff News Editor at Investment Weekly News -- Zions Bancorporation subsidiary Amegy Bank, N.A. was recently named Small Business Lender of the Year by the Export-Import Bank of the United States (Ex-Im Bank). Amegy Bank has been a long-time lending partner of the Ex-Im Bank's Working Capital Program by promoting Ex-Im guaranteed loan facilities to qualified small businesses.
"We are honored that Amegy Bank has been recognized by the Ex-Im Bank as its small business lender of the year," said Zions Bancorporation Chairman and CEO Harris Simmons. "This award is a testament to our organization's commitment to lending to small businesses and a tribute to Amegy's International Division. Nearly 70 percent of Amegy's completed loans during the past three years have supported small business export sales. I am optimistic that the combination of our seasoned partnership with the Ex-Im Bank and our overall focus on small business customers will continue to drive strong growth."
"Amegy Bank has enjoyed a strong relationship with Ex-Im Bank and participating in its Working Capital Program for more than 20 years," said T.J. Raguso, Executive Vice President of the International Division at Amegy Bank. "We are an active middle market lender in the largest exporting state and frequently utilize the Working Capital Program to provide our customers with the export financing they need to compete globally and grow revenue."
Amegy Bank is now the largest participant in the program in Texas and the eighth largest lender in the United States in terms of total authorizations. In 2013, Amegy Bank received Fast Track Lender Status, which is a select distinction given to only 10 banks in the United States that have demonstrated skills in asset-based lending. Over the past three fiscal years, Amegy Bank completed nearly 70 working capital guarantees totaling more than $280 million. Last year, Amegy Bank reached an important milestone in its participation in the program by achieving more than $100 million in authorizations, of which more than 75 percent were small business transactions.
Keywords for this news article include: Banking and Finance, Zions Bancorporation.
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