ANB Bank has announced steps designed to relieve the financial stress customers face as a result of the coronavirus outbreak.
The bank offers a three-month deferral of payments on commercial and consumer loans that require monthly principal and interest payments. That includes loans for commercial real estate and equipment as well as mortgages and home equity and installment loans.
The bank also ensures that borrowers with floating rate, prime-based loans will receive the full amount of two emergency rate reductions by reducing the prime borrowing rate and temporarily removing interest rate floors through Dec. 31.
“We want our customers to know our ANB team is here for them,” said Koger Propst, president and chief executive officer. “Our low-moderate risk underwriting, our privately held model and the fact that all our loans are portfolio loans puts us in a unique position to respond to this challenge in a truly meaningful manner — one that will provide financial and emotional relief to our ANB customers in this challenging time.”
ANB Bank operates more than 30 banking centers, including locations in Grand Junction. For more information, visit www.anbbank.com.