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  • Comment Detail

  • Date: 10/12/22
    First Name: Christopher
    Last Name: Wente
    Email: cwente@goldenbeltbank.com
    Organization Type: other
    Organization: Golden Belt Bank

  • Comment

    Golden Belt Bank is a $300 million asset bank located in Western Kansas with 3 branches, including one in Fort Morgan, Colorado. FHLB helps our bank meet the needs of our customers in the communities that we serve, through increasing our banks liquidity, First-Time Homebuyer grants, and providing us with a long-term fixed rate mortgage product.
    FHLB is our funder of choice to assist our bank with it's liquidity needs through advances or lines of credit. This is very relevant currently as our liquidity is getting tight and we have the ability to quickly borrow. The staff at FHLB works with us to match advance that fit our specific duration or to help us create funding for larger long term fixed rate loans for commercial customers.
    Over the past two years we have provided $212,500 in their HSP grants to First-Time Homebuyers in our communities. This is an excellent program that allows young people the opportunity to purchase their first home. Without this resource, I believe that many borrowers would struggle to qualify for the purchase of a home.
    The MPF program is very important to Golden Belt Bank, as it provides us with a long term fixed rate mortgage product for our borrowers when purchasing homes. This program allows us to sell the loan, but still retaining the servicing with our customers to ensure their needs throughout the loan are met, but we don't have to take on the interest rate risk on our balance sheet. Through this product over the past three years we have saved our customers millions of dollars through refinancing their mortgages at all time low rates.
    We also appreciate the close proximity of the FHLB in Topeka, Kansas. This provides us with easy access to staff that can visit our bank and help explain their products and services. They are also beneficial in providing economic updates and webinars about what is going on in the banking industry.
    I hope that the FHFA understands the importance of the FHLB to our community banks and should you have any questions, please feel free to contact me at anytime at (785) 625-7345.

    Sincerely,

    Christopher Wente