Summary
This document is a client success story detailing the partnership between First State Bank of the Florida Keys and Baker Hill Solutions. The bank, which has been serving its community for over 65 years, faced challenges with its commercial lending workflows, particularly in statement spreading. In 2006, the bank implemented Baker Hill's Statement Spreading and Exception Tracking solutions to enhance efficiency and modernize its commercial lending processes. The solutions allowed the bank to streamline reporting, data collection, and credit decision-making. Following initial success, First State Bank expanded its relationship with Baker Hill by adopting the Baker Hill NextGen® Commercial Loan Origination platform, which integrated various functionalities to support the bank's lending needs. As a result of these implementations, First State Bank reported a 30 percent increase in loan volume over three years and improved its efficiency ratio from 70 percent to 55 percent. The bank is considering further solutions from Baker Hill to enhance its operations.
