Q: Red River Bank is known for its high level of service. What makes Private Banking different?
KP: One difference is having a dedicated representative for every need. Someone may be starting a business venture or coming to us for a home loan—whatever it is, we’re their person. We’re always their person. You get to follow that relationship for years.
EM: Often, the private banking customer wants to consider multiple solutions to a financial situation. We provide various options so they can pick and choose.
LC: It’s really a separate product group. For instance, we’re able to be much more flexible on the loan side because of the strength of liquidity or income in most cases.
Q: You mention loans. Are we largely talking mortgages?
LC: We can do a lot more than mortgage loans. We can do aircraft loans, yachts, second homes. It’s helping people achieve their goals and dreams, whether that means financing toys or a new building for their business.
EM: We’re able to offer Private Banking mortgages for clients who have multiple income sources. They may have more than one business, for instance, and even though they’re a high net-worth individual, the conventional mortgage process can get very tedious and frustrating—just the level of paperwork alone. We offer a much more streamlined alternative.
KP: Similarly, we’re able to work with doctors who are just out of school and help them get established with their first home and building their practice.
Q: It sounds like the solutions in Private Banking are highly customized.
KP: It’s a really personal approach, and in a lot of cases, it’s generational. An individual might want to make sure I’m taking care of their children who are going away to college or need help establishing their own credit.
EM: I’m my client’s dedicated representative, but I have the ability to connect multiple people within our organization to make sure needs get met. You get a lot of personal attention.
LC: That focus on the individual is very genuine here. You don’t find that a lot in banking anymore.
Q: We’ve addressed building a medical practice, but what about other commercial needs?
EM: I’ve helped with a number of clients’ businesses, from growing a practice to the complex needs of a multi-generational family investment group.
KP: The relationship is a perk, and that includes the commercial aspect, having the flexibility to tailor to different clientele and different circumstances.
LC: On the commercial side, Private Banking generally deals with the principals and taking care of their needs at home and at work. Again, it’s about achieving their goals. That’s the best part of our job.