CARMEL, Ind.--(BUSINESS WIRE)--Baker Hill, a leading provider of technology solutions for common loan origination, risk management, relationship management and smart data analytics, announced that First Bank selected Baker Hill’s consumer lending and online loan application solution to support the bank’s continued growth in the most efficient manner.
First Bank, the largest community bank headquartered in North Carolina (Southern Pines) with $5.6 billion in assets and 102 locations, prides itself on serving the local community and empowering its customers to reach their financial goals. Following multiple mergers that increased the community bank’s size, First Bank needed a loan origination system that would generate efficiencies and enable the bank to better meet the needs of their customers. First Bank also sought a tool that would support fast and easy completion of loan applications and ultimately, streamline the decisioning process.
“Given my familiarity with the company’s technology and the direction they are taking with the Baker Hill NextGen® platform, our team felt that Baker Hill’s consumer loan origination system and online loan application would be the best solutions on the market to accommodate First Bank’s needs,” said George Lewis, senior vice president, credit administration. “The ongoing support we have received throughout the onboarding process paired with the company’s longstanding reputation within the industry makes this a valuable partnership for us. We look forward to the benefits these implementations bring to both our customers and our employees.”
Baker Hill’s consumer lending solution automates the entire consumer loan origination process from submission to booking and reporting. This will help reduce the number of manual processes around loan applications, decrease our time from application to decision, and better support our strategic growth objectives, all while controlling risk to the bank. With Baker Hill’s online loan application solution, First Bank will streamline the loan application process for both customers and employees, respectively. These solutions facilitate sharing of information between the field and underwriting, which improves transparency and expedites decisioning. Together, these solutions will empower First Bank to achieve and maintain profitable loan growth, as well as improve the overall lending experience.
“Our goal at Baker Hill is to help community financial institutions, like First Bank, generate efficient and profitable growth,” said John M. Deignan, President and CEO of Baker Hill. “With the support and expertise of our team, combined with the intuitive design of our solutions, First Bank is positioned to maximize its growth potential and more importantly, best serve its customers by providing a positive lending experience.”
About Baker Hill
Baker Hill empowers financial institutions to work smarter and drive more profitable relationships. The company delivers a single unified platform with solutions that streamline origination and portfolio management for business, consumer direct and indirect lending. The Baker Hill NextGen® platform also delivers sophisticated business intelligence and revenue enhancement solutions that support sound business decisions to mitigate risk and generate growth. Baker Hill is the #1 provider of member business lending services, serving 500 financial institutions, including more than 20% of the top 150 U.S. banks and 20% of the top 25 U.S. credit unions. For more information, visit www.bakerhill.com.
About First Bancorp
First Bancorp is the holding company for First Bank and is headquartered in Southern Pines, North Carolina, with total assets of approximately $5.6 billion. Its principal activity is the ownership and operation of First Bank, a state-chartered community bank that operates 102 bank branches in North Carolina and South Carolina. Since 1935, First Bank has taken a tailored approach to banking, combining best-in-class financial solutions, helpful local expertise, and technology to manage a home or business. First Bancorp’s common stock is traded on the NASDAQ Global Select Market under the symbol “FBNC.” Visit the website at www.LocalFirstBank.com. Member FDIC, Equal Housing Lender.