PREBLE COUNTY — Somerville National Bank has brought in a new face to help take their agricultural loan department to the next level.
Earlier this month, Pete Ferriell was hired at Eaton’s south branch, as the new vice-president. He brings 35 years of agricultural lending experience with him.
“It was an opportunity,” he said. “I worked for the Farm Service Agency for the United States Department of Agriculture. This is a new challenge, a new opportunity, and it’s just something that presented itself and I was excited to fill the part.”
Ferriell has a bachelor degree in agriculture and economics from Wilmington College as well as a master’s degree in business and administration from the University of Dayton.
He was worked in other FSA or USDA offices in Greenville, Wilmington, and eastern Ohio as well as a variety of experience in agricultural lending throughout the state.
Ferriell was attracted to Somerville National Bank because of their relationship with clientele.
“It’s a very personable bank. They know their customers very well,” he said. “It’s a bank that can give personal service to meet credit needs of not only agricultural customers but also other commercial loan customers.”
Currently, he and the rest of the staff are very busy helping customers with end of the year operating expenses such as fertilizer prices and helping them set up for operations in 2016. At the first of the year, Ferriell will be busy renewing existing lines of credit and processing new request for new lines of credit for new customers.
He hopes to bring in a few new services as well.
“I’ll be able to bring forward some expertise in the USDA guaranteed loan programs where the bank provides credit and the USDA works closely with them to guarantee those loans,” said Ferriell. “That will allow us to participate and assist financially some larger customers and younger, beginning, expanding customers. We hope to use that program and any other program that will assist our program.”
Somerville National Bank currently has six offices established throughout Preble County.