Last weekend, Nodaway Valley Bank moved into its new building on the site of the old bank at 614 State Street and opened its doors for business Monday morning.  The temporary bank facility on West Seventh, which was leased, will be removed in the coming weeks.

The new building’s late nineteenth century classic architectural style, designed to complement historical buildings on State Street, carries over through the choice of heavy dark oak for the interior cornices and trim, as well as dark bronze door hardware.  There is also a nod to the area’s connection to wildlife and nature, featuring a chandelier made from deer antlers, wildlife taxidermy on display, and the use of other natural materials throughout.

“A thoroughly modern banking facility with the warmth of a hunting lodge,” Quick said.  “Plus,   we also incorporated many of the beloved Mound City streetscape pictures which many people admired in the old bank’s lobby.”

A new building afforded the opportunity to improve many important features, a few of which are the drive-up, onsite ATM and vault.  “The former drive-up window lacked efficiency for both customers and employees, while the new one has been thoroughly planned.”  Quick said.  “The new building’s elevation is higher in order to accommodate a level entrance off State Street, two drive-up lanes, an onsite ATM, ample off-street parking and an exit onto Seventh Street.” Quick said.

A spacious new vault replaces two small, connected vaults that traversed the middle of the old building.  New safe deposit boxes offering a wider choice of sizes have been installed along with.

NVB Paycheck Protection Program Concludes

With the Small Business Administration’s announcement today that funding has been exhausted, Nodaway Valley Bank has ceased accepting PPP applications.

During the past year, NVB has funded more than 1,600 PPP loans totaling $91.8 million, covering an estimated 12,000 jobs throughout northwest Missouri. The SBA has paid off approximately $52.3 million in loans to date. As their covered payroll periods expire, the bank will assist remaining clients with preparation and submission of their forgiveness applications.

NVB bank assembled a special team of lenders to guide clients through the online application and forgiveness process. DocuSign was used to exchange documents and signatures electronically.

“This was a new experience for us and our customers, and it proved to be efficient and convenient,” commented Seann O’Riley, Chief Lending Officer. “I anticipate we will continue to utilize similar documents throughout the bank, even as business returns to normal.”

As a result of closed lobbies, more applications for personal and residential real estate loans have been channeled through the bank’s online loan application program, a trend O’Riley expects to continue even though all lobbies have re-opened. “Loan customers have also become accustomed to making an appointment,” O’Riley said.

“Online loan applications are immediately assigned to a loan officer for review and follow-up, so the customer receives the same amount of attention whether they’re at home or at the lender’s desk. Furthermore, clients can submit back-up documents electronically instead of making a trip to the bank,” he said. “The pandemic has ushered some efficiencies in our application process.”

Initially, the Paycheck Protection Program targeted business and non-profit organizations employing 500 or fewer people. It was expanded to help self-employed and farmers. PPP clients which experienced a 25% quarterly decrease in revenue could apply for a second round of PPP financing.

“This program covered a wide variety of commercial loan customers,” commented bank President Cort Hegarty, “and it proved to be a financial lifeline for businesses and people affected by closures and accompanying revenue declines. As a community bank, we are proud of our role and pleased that we could be of help.”