How Banks Will Deal with the Coronavirus Aftermath - Is Bank Failure Imminent?

Scott McComb, CEO and Chairman of Heartland Bank joins us for a unfiltered discussion about COVID-19 and how banks will deal with the aftershock resulting from the virus.

First off, he shared a not-so-well-known fact - that there is still money available for small business owners that can be accessed today (at 10:30am on Friday, May 1st). Heartland had already built the infrastructure to handle the PPP and other relief packages before the pandemic even began, so reach out to them to get your questions answered and to apply before it's too late!

Scott mentions that at least so far, since people aren't spending their money due the stay at home order, while he's beginning to see delinquencies in credit card payments amongst certain demographics, he isn't seeing balances rise like they'd originally worried. He does believe that the American economy will come back strong, but that it's going to take some time.

Heartland Bank has been around since 1911 and is ranked by American Banker’s Magazine as one of the top 200 publicly traded community banks in the U.S.

Scott McComb is an admired entrepreneur in the banking world. He graduated from The Ohio State University, the Ohio School of Banking, the OBA Leadership Institute, and the Graduate School of Banking at the University of Wisconsin. He joined Heartland Bank in 1999 as the Director of Internet Banking at a time when almost no other regional or community banks had any sort of internet banking presence.

Over time, Scott was promoted within the bank to the Senior Management Team, then promoted again to Executive Vice President and COO in 2004, then in 2008 he was promoted to President, in 2009, just a year later, he was promoted to CEO, and for more than 9 years now – since 2011 – he’s acted as both the Chairman and CEO of a very successful, admired Heartland Bank.

You can contact Scott at: [email protected] or 614.337.4600

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Adam Koos, CFP®, CMT® is a CERTIFIED FINANCIAL PLANNER and one of only 2,600+ Chartered Market Technicians (CMT) worldwide, as well as a Certified Financial Technician (CFTe®) thru the International Federation of Technical Analysts (IFTA). He’s been named by Columbus Business First as one of their 20 People to Know in Finance, was a recipient of the Forty Under 40 award, is ranked by Investopedia as one of America’s top 100 Most Influential Advisers, and is the winner of the coveted Better Business Bureau Torch Award for Ethical Enterprising. Adam serves his clients as the president and portfolio manager at Libertas Wealth Management Group, Inc., a Fee-Only Registered Investment Advisory (RIA) firm, located in Columbus, Ohio.

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