HOW CAN WE PARTNER WITH YOU?
We connect affordable housing developers with the financial resources of the banking industry, enhancing communities and enriching lives across six Southeastern states.
Baxter Street Flats, Charlotte, NC
Developer: Laurel Street Residential
Baxter Street Flats is a new, 30-unit multifamily project located in Charlotte, NC, providing a mix of one-, two- and three-bedroom units to households earning 60% or less of area median income. The development is located in the Cherry community, which is one of Charlotte’s most historic neighborhoods and oldest African American communities.
Centrant Community Capital provided an $860,000 mortgage loan to help meet the project’s permanent financing needs. The loan is structured as an 18-year term with a 35-year amortization, at a fixed rate of 5.50%. Funding commitments for the loan were provided by twenty Centrant member banks.
HEAR FROM A DEVELOPER
Mountain Housing Opportunities has had a great experience working with Centrant on permanent financing for our community development and affordable housing complexes. Centrant is easy to work with, staff are knowledgeable, professional, and have a “can-do” attitude. Requests for information are generally answered with one business day, and responses are thorough and detailed. We cannot say enough about how happy we are to be working with Centrant, and we would highly recommend them to any affordable housing or community development organization.
Cindy Visnich Weeks
Vice President & Director of Community Investment
Mountain Housing Opportunities, Inc.
THREE NEW BANK MEMBERS
Even as the banking industry continues its steady trend toward consolidation through mergers and acquisitions, Centrant was excited to welcome three new member banks in 2019.
By joining Centrant’s lending consortium, these institutions have expanded the pool of funding capital available to finance quality affordable housing across Centrant’s lending footprint:
HEAR FROM OUR MEMBERS
We immediately understood the potential Centrant could provide to us by sharing projects beyond our normal scope to provide us additional opportunities for CRA.
PRESIDENT/CHIEF CREDIT OFFICER
BUSINESS BANK OF TEXAS (AUSTIN, TX)
Renasant Bank strives to impact the communities we serve. We believe the partnership with Centrant Community Capital will help us to identify loan participation opportunities for affordable housing in our footprint.
VP/DIRECTOR OF COMPLIANCE
We are enthusiastic about a partnership with a seasoned lending operation that understands the needs of banks and affordable housing developers alike.
SENIOR VICE PRESIDENT & SENIOR RISK OFFICER
BENCHMARK BANK, PLANO TX
2019 IN REVIEW
December marked the conclusion of Centrant’s 29th year of operation – a long legacy of affordable housing finance that began when the North Carolina Bankers Association incorporated its new, wholly-owned subsidiary known as “CICNC” on December 19, 1990.
As we begin our 30th year of service to the banking and affordable housing industries, I’m particularly grateful for the partnerships that make our work possible. Thank you for your trust in Centrant.
Look at what we accomplished together:
In 2019, we surpassed $346 million in closed loans and over 20,000 units financed. We finished the year with a pipeline of $62.8 million in active loan commitments, which will help to bring another 2,500 affordable housing units to market upon closing.
For the 7th straight year – and for 10 of the past 11 years – we’ve exceeded $20 million in new loan commitments. This year’s pool included our 320th loan commitment in North Carolina – as well as our first loan commitment in Texas.
totaling $25 million
million in total
development costs leveraged
via new loan commitments
in loan originations
in outstanding loan
active loan servicing
created or preserved
We are actively servicing
in loan products
PEOPLE MAKE PARTNERSHIPS POSSIBLE
The staff of Centrant Community Capital brings over a century of cumulative professional experience in banking, real estate and affordable housing to each transaction. More importantly, the team brings a genuine passion for service to our members and partners, and pride in the role that we play to support community development in the markets that we serve together.
David has more than 20 years of experience in banking, affordable housing finance and community development. He joined the organization in 2012 as Marketing Director, and assumed the role of Executive Vice President in 2014.
DAVID R. BENNETT
EXECUTIVE VICE PRESIDENT
SENIOR VICE PRESIDENT
CREDIT & LENDING
John brings a broad and valuable depth of experience from more than 13 years of experience in the affordable housing industry. His previous experience includes several years as a staff attorney supporting the acquisitions group of a national tax credit equity syndicator.
Vikki has almost 20 years of experience in the affordable housing industry. She joined the organization in 2015 as a Portfolio Analyst and is primarily responsible for on-going financial analysis, annual audit reviews and site inspections for loans in our portfolio.
VIKKI CONLEY IKARD
Shellie serves as Servicing and Closing Manager for Centrant Community Capital. Shellie joined the organization in 2005 as an administrative assistant and assumed the role of Servicing and Closing Manager in 2007.
SERVICING & CLOSING MANAGER
BOARD OF DIRECTORS
Centrant Community Capital operates under the guidance of an experienced and dedicated Board of Directors. Board members represent the business, credit, community development and geographic interests of our member banks and provide critical feedback to ensure that Centrant is meeting the dual mandate of its mission: leveraging the resources of the banking industry to finance affordable multifamily housing in a safe and profitable manner.
Mr. Stephen Dixon
Senior Vice President & CRA Officer
Bank of Tennessee
Johnson City, TN
Mr. Jim Fielding
EVP & Senior Credit Officer
Mr. Laurence S. Bolchoz, Jr.
President & CEO
Coastal Carolina National Bank
Myrtle Beach, SC
Mr. Scott Goodwin
Senior Vice President
First Citizens Bank
Ms. Ruth Johnson
EVP & Chief Credit Officer
West Jefferson, NC
Mr. Christopher Robbins
Senior Vice President
Mr. Allan Carter
President & CEO
Kingstree Federal Savings
Mr. Peter Gwaltney
President & CEO
North Carolina Bankers Association
Mr. Michael Kerr
Chief Credit Officer
First Federal Bank
Mr. Ted Whitehurst
President & CEO
Rocky Mount, NC
Mr. Scott Farmer
North Carolina Housing Finance Agency
Mr. Edward McKelvey
Senior Vice President & CRA
Officer South State Bank
For over a decade Centrant Community Capital has been honored to co-host Housing Works!, the North Carolina Affordable Housing Conference with our industry partners, the North Carolina Housing Coalition and the North Carolina Housing Finance Agency.
In 2019, the conference surpassed a new milestone, welcoming more than 1,000 registered attendees from twenty-two states. The strong partnership between Centrant, NCHFA and NCHC, as well as the broad yet complementary reach of our various missions, is the primary reason that the North Carolina Housing Conference has grown over the years.