Rising Together
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RISING TOGETHER 2020 COMMUNITY IMPACT REPORT AS WE LOOK BACK AT 2020, we see lives and livelihoods that have been upended. We also have witnessed amazing resolve and resilience. As neighbors and friends, we have been there for each other. As a community bank, we have been there for you — and the St. Louis region. COMMUNITY VALUES CUSTOMER A NETWORK FOCUSED BASED CENTRIC FOR GOOD Our purpose is to help our Every person, every business, Our customers deserve We can all play a role in regional communities thrive. every community deserves customized financial RISING TOGETHER, and it is Main Street is our street, too, the right to DREAM BIG. That solutions. We meet you where as easy as choosing where you and has been since our begins with access to capital. you are and help you get to bank. At Midwest BankCentre, founding in 1906. where you are going. $95 of every $100 deposited locally stays in the region to build businesses and families. THE RIPPLE EFFECT STARTS WITH YOU. TABLE OF CONTENTS LETTER FROM OUR CHAIRMAN & CEO WHEN I WROTE those words last year, I had no idea what lay ahead in 2020. I had no idea that a global pandemic would create a tidal wave that would wash Systems are either designed to help, over Main Street businesses. I had no idea that breadwinners in our communities would be furloughed from their jobs or lose them all together. And, I had no idea maintain status quo or hurt…. Those who we would lose family members and friends to this virus without even a chance to have been on the losing end are more say our last goodbyes. Three months later, the second wave hit: the people’s protests took to the streets likely to stay there unless we collectively around the country after the death of George Floyd. That event, and others that have occurred since, opened people’s eyes to inequities and systemic flaws not change our behavior, invest more, and only in the justice system, but in housing, health care, employment and education. EXPECT MORE FROM COMMUNITY-BASED This has put a spotlight on diversity and inclusion. There is a new awareness of the need to have many and varied voices at the table if we ever hope to address our BANKS who are not insulated from nation’s biggest problems. the needs of local communities and In this time of disconnection and social unrest, I find room for hope. Our 2020 Community Impact Report is about resilience. It is about persistence. It is about Main Street and the people who live here. It is about the heroism of frontline businesses.” —COMMUNITY IMPACT REPORT, 2019 workers who showed up at hospitals, at grocery stores and, yes, at banks to ensure that essential services continued uninterrupted. Thank you all. While there are feelings of disconnectedness, there is also, paradoxically, a new awareness of our interconnectedness. We — Midwest BankCentre and you — are on the threshold of creating a next normal. Because you have chosen to Bank Your Values, your checking and savings accounts and loans create the first ripples of positive change in our communities. Our promise at Midwest BankCentre is that $95 of every $100 deposited locally stays in our region to build our local businesses and support the dreams of our local families. In these uncertain times, the fact that each $95 of those dollars will circulate throughout the economy OUT OF EVERY $100 six times, demonstrates the difference you are making by deposited locally the simple choice of choosing where you bank. stays in the St. Louis region. ORVIN T. KIMBROUGH Chairman & CEO TABLE OF CONTENTS 2020 COMMUNITY IMPACT REPORT 3 Let me take a step back and talk about what we mean when we say, Again, you might think: with all the stresses and all the “Bank Your Values.” It is built around these core beliefs: that Main Street must uncertainty, how can I feel so unabashedly optimistic? prosper as well as Wall Street; that small businesses and small business owners It is because I know communities matter. I am proud of TABLE OF CONTENTS are the lifeblood of communities and deserve our support. Most importantly, the ways we have pulled together; relationships mean more it means all members of our community need and deserve the opportunity now than ever. to access reasonably priced capital. That is the door that opens the way to COMMUNITY FOCUSED dreams. Dreams to buy a home, to start or scale a business, to educate our In this report, we will meet some of the business owners who children. This is what it means to RISE TOGETHER, to have diverse and came to Midwest BankCentre for Paycheck Protection Program 7 PPP Success Stories IT DOESN’T MATTER vibrant communities, to have a place to dine, shop and bank where we know loans, because we answered their calls when national banks did 15 Recognition where you are on your the cooks, shop owners and team, and they know us. They know that we not. We helped them through the process because they are our 16 Helping Regional Communities Thrive take two creams in our coffee and that we like our withdrawal in small bills, financial journey, we neighbors, and we share a commitment to our communities. $5s and $10s, or struggle with that one bank app. will meet you there and You will meet some of our employees who stepped up in their help you get to where roles as essential workers (and in so many other ways), so It doesn’t matter where you are on your financial journey. We will meet you VALUES you want to be.” our customers knew that their money was safe and available. BASED there and help you get to where you want to be. That could be financing a You will also meet an 81-year-old widow who can stay warm retirement home in the Rockies, or loaning you emergency funds to help 19 Bank Your Values this winter thanks to an emergency Life Happens™ loan by get you back on your feet. Midwest BankCentre has digital and physical 20 Access to Capital Midwest BankCentre. And, we will take a close look at a study is the Starting Line locations in some of our most economically challenged neighborhoods and we conducted in partnership with Washington University that 24 High Impact Investments some of our most affluent ones. And, I am excited to announce that we have just measures the regional economic impact your deposits have 25 Reimagining Community Banking opened an office in O’Fallon, expanding our footprint into Illinois. We continue made in marginalized communities. to invest heavily in technology to bring banking to your fingertips with our new online banking services. In this 2020 Community Impact Report, you will see what it CUSTOMER CENTRIC means to be part of our Network for Good and the important role you play. Together, we are on the verge of creating a 27 High-Touch and High-Tech new normal. One that is built on our newfound awareness of 28 Economic First Responders EVERY DOLLAR CIRCULATES IN ST. LOUIS’S ECONOMY 6x our interconnectedness. One that points the way to shared 29 Rising Analytics prosperity. Thank you for being a customer of Midwest BankCentre. And, if you haven’t found your way into our doors NETWORK or onto our portal, please join us. These are exciting times. Nonprofit FOR GOOD Faith Based Let’s all DREAM BIG and RISE TOGETHER. 31 Creating the Ripple Effect 32 Quantifying the Ripple Effect 33 A Seat at the Table Mid-market oanes 34 Advisory Board & CHECKING Board of Directors LOANS ORVIN T. KIMBROUGH Chairman & CEO & SAVINGS 36 Awards & Recognition 38 Working Together to Rise Together ales 41 Financial Solutions TS EN M I AY Sall Hoes NTEREST P Bsnesses 4 MIDWEST BANKCENTRE 2020 COMMUNITY IMPACT REPORT 5 BUILDING COMMUNITY THROUGH PPP LOANS BUILDING COMMUNITY THROUGH A Vibrant Main Street The shock waves of the pandemic hit early throughout weekends to ensure that our and hard on Main Street. By mid-March, customers could get some relief a business that sells donuts to one that from the Paycheck Protection Program sells diamonds closed. Service companies while the limited funds were available. that install and maintain heating and MBC was also there at this critical time cooling systems faced new challenges for non-customers who did not receive delivering in-home services to diverse as much as a return phone call from communities from Crystal City to South their national banks. While the businesses St. Louis City. Nonprofits that fill such vital vary, they are all vital to the vibrancy roles in our communities faced uncertainty of our communities. as well. The Federal CARES Act threw Meet some of these Main Street out a lifeline, and Midwest BankCentre business owners and nonprofit leaders associates worked well into the nights and who are bravely weathering the storm. COMMUNITY The Coronavirus Aid, Relief, and Economic Security Act (CARES FOCUSED Act) was a $2.2 trillion TOTAL FUNDS economic stimulus bill 1,400+ passed by the 116th U.S. $205M+ LOANED PPP LOANS SECURED Congress and signed into law on March 27, Our purpose is to help our 2020 in response to the economic fallout of the regional communities thrive. COVID-19 pandemic in the United States. Main Street is our street, As part of the CARES OF PPP LOANS Act, $669 billion was WERE UNDER too, and has been since our designated for the 80% $34,179 Paycheck Protection $150K AVERAGE LOAN SIZE (UNDER $150K) founding in 1906.