River Bank & Trust Announces 2021 Paycheck Protection Program Results

Prattville, Alabama, August 20, 2021: Chief Executive Officer Jimmy Stubbs is pleased to announce that River Bank & Trust ranked third among 104 Alabama-based lenders who participated in the Paycheck Protection Program (PPP) in 2021. This year, River Bank & Trust funded 1,643 PPP loans totaling $84,555,922, bringing its overall PPP loan total to $250,214,159. Established by the CARES Act in 2020, the PPP was among the first COVID-19 small business economic aid programs, providing nearly $800 billion in economic relief to small businesses and nonprofits across the nation.  

"When the PPP launched, we immediately recognized an opportunity to make a positive impact during a time of great uncertainty," says Stubbs. "Our bankers walked hand in hand with local businesses and nonprofits, navigating the program and ensuring funds were received. Their dedication reflects our mission to support the essential role these organizations play in the communities we serve."

About River Bank & Trust

In 2006, River Bank & Trust opened with two main goals: 1) establish a community-focused financial institution that would support local decision making and 2) re-circulate money back into the communities it serves. Since then, River Bank & Trust has grown to be one of the largest state-chartered banks in Alabama with current assets of $2.25 billion, eighteen locations in Alexander City, Auburn, Clanton, Daphne, Dothan, Enterprise, Gadsden, Millbrook, Mobile, Montgomery, Opelika, Prattville, Thorsby, and Wetumpka, and a loan production office in Decatur. The bank's mission is to be a trusted partner and friend, helping neighbors and businesses in the communities they serve reach their financial goals. For more information, visit www.riverbankandtrust.com.

Contact: Marcia Johnson, Marketing Director | mjohnson@river.bank