Mar 31, 2023
In a previous episode, Tyler Knott enlightened us on what’s happening in our local banking and how it relates to real estate. Today, Tyler is back to share his banking career journey. Tyler’s family has owned the bank for 120 years, and they envision having it for over 110 years to come. Tyler began his career in banking as a teller, and he worked his way up.
If you are wondering how Tyler got to be the chairman and CEO of Bank 21, this episode is for you. Tyler shares his journey and some of the mistakes he has made along the way. Also, if you are worried about what the future holds for us economically, you must listen to Tyler’s prediction.
Listen and learn.
Key Talking Points of the Episode:
01:22 How Tyler grew up in banking
03:14 Positions that Tyler has had at Bank 21
05:16 Banking as a business
06:29 The symbiotic relationship between deposits and loan customers
09:09 What makes a good loan?
11:08 Why is real estate such a great piece of collateral
11:41 Debt coverage ratio
15:09 The different lending buckets that Bank 21 has
16:34 How Bank 21 pivoted through 2008
20:17 How Tyler’s law degree helps him as the CEO and chairman of Bank 21
22:17 Tyler’s goal for Bank 21 for the next five years
25:21 Impacts of the high-interest rates on the economy
26:39 Is there a drop in lending requests due to the high interest rates?
28:58 Do we have a recession coming?
30:33 Why Tyler loves single-family asset class
33:21 Qualities of SDP borrowers
36:34 Mistakes Tyler has done in real estate
38:42 Three people Tyler would golf with
“The best way that I can move this bank forward is to be in it and building the right systems to deliver excellence.”
“You only have so much time in a day and so if you’re having to hands on train every single person on every single aspect then you’re going to stay very small.”
“If there aren’t houses to buy, there’s got to be houses to rent.”
“You can have a great lender and someone that you trust, and you’re assuming that inspections are getting done, but never assume, you know, build those systems in place.”
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