WEBVTT 1 00:00:00.110 --> 00:00:02.020 Hi, I'm Mike Keim, I'm President of 2 00:00:02.020 --> 00:00:03.670 Univest Bank and Trust Company. 3 00:00:03.670 --> 00:00:06.000 So, we're a four and a half billion dollar bank, 4 00:00:06.000 --> 00:00:08.230 line:15% located in Souderton, Pennsylvania. 5 00:00:08.230 --> 00:00:11.030 line:15% I'm responsible for running all facets of the operations 6 00:00:11.030 --> 00:00:14.440 line:15% of the bank, from the lending side of the business to 7 00:00:14.440 --> 00:00:19.160 line:15% our operations side and also on the technology side. 8 00:00:19.160 --> 00:00:20.930 line:15% We have two other companies that are part 9 00:00:20.930 --> 00:00:24.873 line:15% of our global company, which is an insurance business 10 00:00:24.873 --> 00:00:26.790 line:15% as well as a wealth management business. 11 00:00:26.790 --> 00:00:31.050 line:15% So, the technology operation that I oversee 12 00:00:31.050 --> 00:00:33.180 manages technology for both the insurance and 13 00:00:33.180 --> 00:00:35.060 wealth management operations as well. 14 00:00:35.060 --> 00:00:37.560 So, we're broken down into our commercial side 15 00:00:37.560 --> 00:00:39.410 of the business and more of a business 16 00:00:39.410 --> 00:00:41.650 lender as well as the consumer side. 17 00:00:41.650 --> 00:00:44.070 On the business side, we will do loans, 18 00:00:44.070 --> 00:00:45.670 commercial real estate loans, which are 19 00:00:45.670 --> 00:00:48.290 called commercial and industry loans. 20 00:00:48.290 --> 00:00:50.330 Those are to help businesses do 21 00:00:50.330 --> 00:00:52.360 what they do and continue to grow. 22 00:00:52.360 --> 00:00:55.020 As well as, we do, tax exempt financing 23 00:00:55.020 --> 00:00:57.430 for local municipalities, non-profits, 24 00:00:57.430 --> 00:00:59.280 colleges and universities, et cetera. 25 00:00:59.280 --> 00:01:02.890 line:15% So, we look at their full set of financials and we look at 26 00:01:02.890 --> 00:01:06.490 line:15% their ability to cover and service the debt. 27 00:01:06.490 --> 00:01:08.340 line:15% We look at the number of years that they've been in 28 00:01:08.340 --> 00:01:11.410 business, the experience of the personnel, the lines of 29 00:01:11.410 --> 00:01:13.290 business that they do because 30 00:01:13.290 --> 00:01:14.980 that's important to us as well. 31 00:01:14.980 --> 00:01:16.530 We really want to get to the point of, 32 00:01:16.530 --> 00:01:18.220 are they able to repay the debt? 33 00:01:18.220 --> 00:01:20.030 Are they in a business that we feel comfortable 34 00:01:20.030 --> 00:01:22.390 with, if it can grow longer term? 35 00:01:22.390 --> 00:01:23.580 And, is this somebody... 36 00:01:23.580 --> 00:01:25.540 I have a very simple philosophy that it says, 37 00:01:25.540 --> 00:01:28.070 if this was your own money, would you lend it to them? 38 00:01:28.070 --> 00:01:30.450 That's the first question that we ask our lenders. 39 00:01:30.450 --> 00:01:33.320 From a individual or consumer perspective, 40 00:01:33.320 --> 00:01:36.370 the underwriting criteria is a little bit more 41 00:01:36.370 --> 00:01:39.360 established and consistent across the industry. 42 00:01:40.860 --> 00:01:43.100 line:15% On the mortgage side, we sell directly to Fannie Mae and 43 00:01:43.100 --> 00:01:45.660 line:15% Freddie Mac, so they have an automated underwriting engine, 44 00:01:45.660 --> 00:01:49.440 line:15% that says how much was my debt to income ratio, 45 00:01:49.440 --> 00:01:51.210 line:15% what's the value of my property. 46 00:01:51.210 --> 00:01:54.620 There's pretty strict criteria that we would lend against. 47 00:01:54.620 --> 00:01:56.700 We have a little bit more flexibility when we put that 48 00:01:56.700 --> 00:01:59.230 loan on our balance sheet, in terms of what we do. 49 00:01:59.230 --> 00:02:00.750 And, at the end of the day, it's similar to 50 00:02:00.750 --> 00:02:01.970 the commercial side of the business, 51 00:02:01.970 --> 00:02:04.730 which is do we think we're going to get paid back? 52 00:02:04.730 --> 00:02:06.396 Do we think we have a good customer 53 00:02:06.396 --> 00:02:09.570 here and can we help them? 54 00:02:09.570 --> 00:02:11.020 So, that's what we go by. 55 00:02:11.020 --> 00:02:13.550 I spend more and more of my time getting out, 56 00:02:13.550 --> 00:02:17.350 involved in community organizations, 57 00:02:17.350 --> 00:02:19.880 line:15% meeting with folks, meeting with customers. 58 00:02:19.880 --> 00:02:23.010 line:15% And, really, it's a general business development effort. 59 00:02:23.010 --> 00:02:26.430 line:15% Then, when I come back into the office is, how can I work 60 00:02:26.430 --> 00:02:30.170 line:15% with the folks that work for me to set strategic direction 61 00:02:30.170 --> 00:02:32.540 and then give them the level of independence and freedom to 62 00:02:32.540 --> 00:02:34.970 go carry those out on a tactical basis.