By Robert Hadley
The financial industry in Greater Louisville and Southern Indiana is tough to beat. According to the Federal Deposit Insurance Corp., in 2016 the Louisville-Jefferson County market had more than $25 billion on deposit at its 40 financial institutions, almost triple Kentucky’s second largest market in Lexington-Fayette County.
Mortgage lending in Louisville appears to retain its post-recession bump, according to a real estate economic outlook presentation sponsored by the Homebuilders Association of Louisville last September. Jefferson County is among the state’s lowest in delinquencies, with 2-4 percent in default 90 days or longer compared to many counties in Eastern Kentucky with delinquencies of between 4 and 10 percent. Home price appreciation is up 6 percent.
This year, the Metro area not only retains all the superlatives it has enjoyed in years past, but has added a couple to sweeten the pot.
Hilliard Lyons ranking
In a move that enhances its reputation as a premier financial services firm, Hilliard Lyons told The Lane Report in March 2016 that Mitch Settle and Elias “Yaz” Hassan were named to Barron’s annual America’s Top 1,200 Financial Advisors list.
“These advisors represent an elite group and are true industry leaders,” said CEO Jim Allen. “They exemplify the exceptional quality and service that all Hilliard Lyons advisors continually strive to deliver.”
This marks the seventh year in a row that Settle, a senior vice president working out of the Owensboro office, earned a spot on the prestigious list – in fact, his No. 3 ranking was five points better than last year.
Hassan, a Murfreesboro, Tenn.-based vice president for the firm, was rated No. 11 among Barron’s financial advisors in Tennessee.
International firm opens doors
First came the February announcement by Ernst & Young LLP that it is opening a $4.35 million support center in downtown Louisville. Based in London, England, EY is a $29 billion professional services firm currently listed on Forbes magazine’s best management consulting firms and ranked 11th on the magazine’s list of America’s largest private companies.
The company – considered one of the world’s “Big Four” accounting firms – provides insurance, tax, transaction and advisory services to many of the world’s largest companies
In announcing the new facility’s opening, Gov. Matt Bevin mentioned Louisville and the state’s strong business reputation.
“Kentucky is quickly becoming the destination of choice for corporate and shared-service centers, thanks to our skilled professional workforce, high quality of life and low business operating costs,” Bevin said. “We are confident that EY’s Louisville-based, executive support team will be able to effectively serve their executives across the United States.”
EY partner Brent Summers, leader of the firm’s Americas enterprise support services division, was involved in the site-selection process. Pointing out that the center was a newly conceived location, rather than a relocation, he mentioned six reasons behind the Metro’s selection.
“Louisville has an attractive cost of labor and real estate, a stable economy, capable workforce and good transportation infrastructure, especially following recent significant upgrades,” Summers said, as well as a “large college and university system, and a supportive state and local government.”
Small business loans
The Louisville area is not just a hub for business loans from commercial banks, as a trio of deals announced in the first quarter of 2017 attest. METCO, the city’s Metropolitan Business Development Corp., loaned $410,000 in seed money to help launch three local businesses..
Andy Blieden, owner of three downtown properties through Butcherblock Properties LLC, will use three loans to upgrade the facades and accessibility of properties on Wenzel, Washington and Main streets in the Butchertown neighborhood.
Nathaniel and Holly Gravely and Cory and Kelly Buenning, owners of Gravely Brewing LLC, received a $200,000 loan for renovate property on Baxter Ave (just east of downtown) into a brewery and taphouse. Music will also be served.
Jamie Keith and Mary Jefferson received $15,000 to help The CERA Group LLC, an educational consultancy, to open offices downtown.
The recent accolades, openings, and loans prove that Greater Louisville’s financial services scene is friendly to businesses of all shapes and sizes.
American Founders Bank
The Bank – Oldham County
Louisville – bbt.com
Bedford, Ky. – bedfordbank.com
Louisville – centralbank.com
Louisville – chase.com
Citizens Deposit Bank
Emminence, Ky. – cdbt.com
Citizens Union Bank of Shelbyville
Shelbyville, Ky. – cubbank.com
Commonwealth Bank & Trust Co.
Louisville – cbandt.com
Louisville – eclipsebank.com
Farmers Bank of Milton
Milton, Ky. – fbmilton.com
Fifth Third Bank
Louisville – 53.com
First Citizens Bank
Elizabethtown, Ky. – first-citizens.com
First Capital Bank of Kentucky
Louisville – fcbok.com
First Harrison Bank
Corydon, Ind. – firstharrison.com
First Savings Bank, F.S.B.
Clarksville, Ind. – fsbbank.net
Louisville – forchtbank.com
Kentucky Home Bank
Bardstown, Ky. – mylnb.com/
King Southern Bank
Louisville – kingsouthernbank.com
Meade County Bank
Brandenburg, Ky. – meadecountybank.com
Mid-Southern Savings Bank
Salem, Ind. – mid-southern.com
The New Washington State Bank
New Washington, Ind. – newwashbank.com
Old National Bank
PBI Bank Inc.
Louisville – pbibank.com
The Peoples Bank of Bullitt County
Shepherdsville, Ky. – pbofbc.com
Peoples Bank Mt. Washington
Mt. Washington, Ky. – peoplesbankmtw.com
The Peoples Bank of Taylorsville
Taylorsville, Ky. – tpbtaylorsville.com
Louisville – pnc.com
Southern Indiana – regions.com
Louisville – republicbank.com
River City Bank
Louisville – rivercitybankky.com
River Valley Financial Bank
Madison, Ind. – rvfbank.com
Springfield State Bank
Springfield, Ky. – springfieldstate.com
Stock Yards Bank & Trust
Louisville – syb.com
Town & Country Bank and Trust Co.
Bardstown, Ky. – mytcbt.com
United Citizens Bank & Trust Company
Campbellsburg, Ky. – unitedcitizensbank.com
Louisville – usbank.com
Wilson & Muir Bank & Trust Co.
Bardstown, Ky. – wilsonmuirbank.com
New Washington State Bank
New Washington, Ind. – newwashbank.com
Louisville – baldwincpas.com
Louisville – bkd.com
Blue & Co. LLC
Louisville – blueandco.com
Beutow LeMastus & Dick PLLC
Louisville – bldcpa.com
Crowe Horwath LLP
Louisville – crowehorwath.com
Dean Dorton Allen Ford PLLC
Louisville – ddafcpa.com
Louisville – deloitte.com
Deming Malone Livesay & Ostroff PSC
Louisville – dmlo.com
Ernst & Young LLP
Louisville – ey.com
Harding Shymanski & Co. PSC
Louisville – hsccpa.com
Henderman, Jessee & Company PLLC
Louisville – hjcocpas.com
Jones Nale & Mattingly PLC
Louisville – jnmcpa.com
Louisville – kpmg.com
Louis T. Roth & Co. PLLC
Louisville – ltroth.com
Mather & Co. CPAs LLC
Louisville – matherandcompany.com
Monroe Shine CPAs
New Albany, Ind. – monroeshine.com
Mountjoy Chilton Medley LLP
Louisville – mcmcpa.com
Louisville – pwc.com
Rodefer Moss & Co. PLLC
New Albany, Ind. – rodefermoss.com
Strothman & Co. PSC
Louisville – strothman.com
Louisville – welenken.com