trending Market Intelligence /marketintelligence/en/news-insights/trending/cv8yocep1i74lkrsaph7rg2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Affordable housing loan servicer AmeriNat to open bank for SBA lending

Street Talk Episode 68 - As many investors zig away from bank stocks, 2 vets in the space zag toward them

Street Talk Episode 66 - Community banks tap the debt markets while the getting is good

Street Talk Episode 67 - Veteran investor tabs Mick Mulvaney to help with latest financial stock-focused fund

Street Talk Episode 65 - Deferral practices trap US bank portfolios in purgatory

Affordable housing loan servicer AmeriNat to open bank for SBA lending

The unique structure of industrial loan corporations may offer a way for companies already working in environmental, social and governance activities to become more involved in the banking space.

AmeriNat Bank, which has submitted a de novo application in Nevada, will be an industrial banking unit of AmeriNational Community Services Inc., which provides mortgage loan servicing to governmental and nonprofit entities such as Habitat for Humanity and through channels such as Property Assessed Clean Energy programs.

Industrial banks provide the only opportunity for a commercial entity to operate a bank. Only a few states have issued them. AmeriNat will be the fifth industrial bank headquartered in Nevada, while 16 are headquartered in Utah, the most of any U.S. state. There are three headquartered in California, and one each in Hawaii, Indiana and Minnesota.

SNL Image

According to its application, AmeriNat Bank will offer Small Business Association loans "as a logical extension" of its current offerings, focused on its current client base. Areas of expertise include "economic development (job creation), green energy and affordable housing," according to the bank's application. "It is a nice opportunity to bring the existing services back under a banking umbrella," said Adrienne Thorson, CEO of the proposed bank.

AmeriNat has a large client book already through its mortgage loan servicing business. "The benefit is that they can come in and offer banking products and services to their customers," said Ray Specht, CEO of Specht Leadership and a consultant to the industrial loan corporation, or ILC, industry. Having the banking charter will provide it with "greater flexibility and efficiency" than its current structure, he said.

Specht added that ILCs such as AmeriNat would not compete directly with traditional banks. "You don't see industrial banks looking to open branches. ... They typically focus on their customer base and there really isn't a competition factor," he added.

SNL Image

Nevada is working to diversify its business strategy, and attracting banks under this charter type is a goal of economic development associations in the area, according to Kylie Rowe, vice president of economic development at the Las Vegas Global Economic Alliance.

"There were no new [industrial bank] charters for a really long time," said Rowe, but the new FDIC Chairwoman Jelena McWilliams has expressed openness to the charter type. "The opportunity is, now, to approve industrial loan corporations," said Rowe.

SNL Image

SNL Image

SNL Image

Did you enjoy this analysis? Click here to set up real-time alerts for data-driven articles on the U.S. financial sector.

To view S&P Global Market Intelligence's Banks in Organization page, click here.