Building Bossier

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Citizens National Bank discusses its success in residential construction loans

Bossier’s growth not only extends to a technology and retail industries, but housing is seeing a steady stream of new rooftops going up all over the parish. Perhaps more than any company in Bossier Parish, Citizens National Bank has been on the front lines of the home building industry. In fact, the bank has financed four out of every 10 homes built in Bossier over the last decade.

The locally-owned, Bossier-based financial institution has been responsible for 2,446 construction loans from 2008 to YTD 2017.

In that same period, 1,661 loans were for projects in Bossier. Only 3,044 permits total were issued, which gives CNB more than half of market penetration.

Jason Smith, president and CEO of Citizens National Bank, said their great service and added value to the process is what keeps companies and individuals coming to his bank for loans to build out more of Bossier.

Jason Smith

“A contractor, and really any business owner, needs to find a bank that is focused on a relationship, not just a transaction — a bank that can partner with them to realize their dreams.  I hope we are that bank for our clients and that we can be that bank for those who need that type relationship,” Smith said.

He added it is “incredibly fulfilling” to have contributed so much towards the growth of Bossier.

“Every day when I drive around town, I see the fruits of our labor,” Smith said. “And when I say ‘our,’ I mean the bank, the partners, and clients we have had the privilege of working with.”

Having more than half the home construction market, CNB’s contribution to the quality of life in Bossier is undeniable, which relates back to the bank’s goal of supporting the community.

“Our bank was founded in Bossier with the idea that the community would always need a community bank.  This is still true today,” Smith said. “Our community had expanded in to all of northwest Louisiana, but our roots still run very deep in Bossier.”

To have this much success with home construction loans comes down to two things, according to Smith: commitment and efficiency.

“I believe our success in the construction sector comes from a combination of being committed to and believing in the area, and having the systems and procedures in place to serve this sector efficiently while effectively managing the risk that comes with it,” he said.

While the major sectors of growth in the parish are the northern and eastern portions, Smith said CNB is financing loans all over the parish, explaining, “We see less activity in the city limits, but we love being involved in development throughout the area.”

And there are no signs of that development slowing. Bossier City and Bossier Parish are expected to experience a boom in population over the next few years, with Bossier City already experiencing a steady growth of 8,500 people from 1990 to 2010.

But in only four years, between 2015 and 2019, the city is expected to add another 12,000 residents. According to data from the Greater Bossier Economic Development Foundation, Bossier City’s population could rise to over 80,000 residents by 2019.

Bossier Parish itself is also looking at growth through 2019, rising from 125,175 people in 2015 to 133,090 in 2019, according to GBEDF data.

Smith said CNB is doubling down on its success in financing loans in order to meet the needs of its clients and partners.

“The bank’s success is dependent on the success of the local community. We are all in!”