The loan product, which allows consumers retroactively to adjust a payment amount, illustrates how community-based institutions are trying to reach technologically savvy consumers.
Florida and Texas are normally major sources of mergers, but bankers in those states likely will take a break to assess damage from the hurricanes before returning to dealmaking.
Banks could be busy supplying credit to manufacturers, hotels, multifamily developers and other businesses that will be helping residents get their lives back on track after two fierce storms.
The agency has earmarked all funds from a Hurricane Harvey recovery package for direct relief, despite calls to get more bankers involved in the process. It remains to be seen how the agency will handle the cleanup for Hurricane Irma.
Texas bankers recovering from Hurricane Harvey are reflecting on their experiences, identifying what went right and what they could do better. Their views could prove useful to Florida bankers hurriedly preparing for the nation's next big hurricane.
“You can’t serve the public if your employees are shellshocked,” said one top banker, comments echoed by other institutions dealing with the aftermath of Hurricane Harvey.
The long-term recovery for thousands of Texans whose homes were decimated by Hurricane Harvey rests with a Trump administration government outsider who wants his agency's budget cut by billions of dollars.
The Houston company doesn't expect any material impact on its commercial-and-industrial book, though there is potential risk tied to residential mortgages. Management, meanwhile, has started rolling out programs to help customers recover.
