Case Study: First State Bank of the Florida Keys boosts commercial lending efficiency with Baker Hill

First State Bank of the Florida Keys boosts loan volume 30% with Baker Hill

First State Bank of the Florida Keys, a locally-owned financial institution, faced challenges with inefficient and time-consuming manual commercial lending workflows, particularly in statement spreading. To modernize its processes and better serve its growing market, the bank partnered with vendor Baker Hill to implement its Statement Spreading and Exception Tracking solutions.

Baker Hill's solution, later expanded to its flagship Baker Hill NextGen® Commercial Loan Origination platform, centralized and streamlined the bank's lending process. This resulted in a 30% increase in loan volume over three years and a record-setting $100+ million in commercial loan production without additional staff. The partnership also improved the bank's efficiency ratio from 70% to 55%, significantly ahead of its peers.

First State Bank of the Florida Keys