The USDA Rural Development recognized Northwest Bank as one of the state's top community bank loan originating and loan writing lenders during the past year with Rural Development's guaranteed housing loan program.
Northwest Bank was acknowledged with 112 loans totaling $11.2 million. With those 112 loans, Northwest Bank was also recognized for having the state's third-highest loan writing total.
"We are very pleased to have such a strong relationship with the USDA," said Greg Post, president and chief executive officer of Northwest Bank. "Partnerships are critical to our ability to help rural Iowans achieve their homeownership dreams."
Lenders accessed more than $230 million in guaranteed loans to make homeownership dreams a reality for more than 2,000 households in rural Iowa. With guaranteed lending, a loan is made to a borrower following the same basic steps as a conventional loan. Rural Development then agrees to reduce the loss the lender may have if the borrower falls short on their commitment.
Their mission is to deliver programs in a way that will support increasing economic opportunity and improve the quality of life of rural residents.
Northwest Bank is a $1.05 billion community bank that offers a full line of business, agricultural, mortgage, consumer deposit and lending services as well as wealth management services.
Northwest Bank has offices located in Algona, Arnolds Park, Ankeny, Belmond, Estherville, Fort Dodge, Humboldt, Milford, Spencer, Spirit Lake, Storm Lake, West Des Moines, and in Nebraska, Omaha and La Vista.