Gerald Anthony Guidry
July 28, 2009
Florett "Flo" Johnson
July 30, 2009
As Synergy Bank celebrates 10 years of community-focused customer service, bank President Jerry Ledet Jr. credits the bank’s stability to its commitment to see that the Houma-Terrebonne area continues to grow and prosper.
Ledet said the institution takes an active role in community affairs and a leadership role in organizations that are important to Terrebonne’s future.
In early June, the bank was recognized for its decade of success. The American Banking Association’s journal recognized Synergy as a best-performing community bank having between $100 million and $3 billion in total assets.
The ranking is based on figures from the highest regulatory reporting level available for each institution. Ledet said Synergy ranked 14th.
“Being ranked among the nation’s top community banks is a significant achievement and a great honor for Synergy,” he said. “It is a result of the hard work by our dedicated team of banking professionals who are 100 percent committed to providing the Houma-Terrebonne area with community banking services that are second to none.”
The national ranking is just one of many awards the bank has received. Last year, the U.S. Small Business Administration honored Synergy with the 2008 SBA Rising Star Award, which is given to those banks that commit the largest percentage of loans to small businesses. Synergy Bank was the only bank in Louisiana to receive the award in 2008.
Locally, the Houma-Terrebonne Chamber of Commerce named Synergy its 2007 Large Business of the Year.
Those accolades, Executive Vice President Ben Borne said, are a testament to the bank’s solid leadership. He said that with the community’s help, the bank is stronger.
Synergy was formed after a merger between Terrebonne’s community banks in the 1990s. Back then, eight community banks were headquartered in Terrebonne.
Through the ’90s, all but one merged or was acquired by regional or national banks. According to Ledet, the choices for individuals and businesses drastically changed. Synergy saw the void and acted.
“Through all of 1998, we went through the organizational process of starting a community bank,” he explained. “We had to get regulatory approval from state examiners and the Federal Deposit Insurance Corporation.”
To open, Synergy had to raise $5 million. In January 1998, the bank went public and sold company shares at $10 a share. By the end of that year, Synergy had raised $6.5 million in capital. Today, the bank has about 310 business shareholders from the community.
With its recent incorporation of a bank in Gray, Synergy has four branches in Terrebonne Parish to help maintain its total assets of close to $265 million.
The first location was built in March 1999 on West Tunnel Boulevard, Ledet said. The East Houma location on Grand Caillou Road followed in January 2002.
By 2005, the bank was outgrowing its West Tunnel location, which served as the main branch, and purchased property on Martin Luther King Boulevard.
In September 2006, Synergy moved into the West Houma location on Synergy Center Boulevard, which now serves as the main branch.
Synergy offers financial products and services tailored to meet businesses’ and individuals’ needs.
The bank offers businesses real estate financing, lines of credit and equipment financing.
Ledet said Synergy also offers mortgage lending to meet the growing demand in the Houma-Terrebonne real estate market.
IRAs and retirement investments options are available. And Ledet said the bank hosts social and educational events tailored for retirees.
Synergy also has all the modern banking conveniences: debit card services, ATM usage and online banking.
Borne said a number of Synergy customers rely on the Internet to check statements and pay bills. The bank offers a number of online options and, through a newsletter mailed twice weekly, attempts to keep customers abreast of how to utilize those services.
“Banking is constantly changing and it is becoming more technology-centered. Customers are using the Internet for online bill paying and banking at a greater rate than they were even five years ago,” he said.
With a plethora of banking options in the Tri-parishes, Borne said Synergy has adopted an “above and beyond” approach. The bank offers extended hours and sponsors a number of community events like Kids Day.
“We are locally owned and all the decisions are made locally. We are a true community bank,” he said. “Our employees are really active in an array of charitable organizations. And we are very active in the classrooms.”
Synergy adopted Oakshire Elementary, Boudreaux Canal Elementary and St. Matthews Episcopal schools, all of which participate in Penny’s Club.
As part of the program, Penny the Pelican visits the schools to teach elementary students about saving money. Students open accounts – no service fee is charged – and bank officials visit the class monthly so students can make deposits into their accounts.
“We want to teach them how to do that so when they turn 18 or 21 they have enough saved to put a down payment on a car for college,” he said. “We have been asked to come into schools that are not our adoptive schools to teach the same concept. That whole community spirit is something that is attractive to customers.”
Ledet said Synergy will stay its course and continue to focus on the banking fundamentals that have kept it afloat for the last decade.
“Service excellence, responsiveness, respect and attractive products and pricing will be all the things that keep customers coming back to Synergy for their banking needs,” he said.
In early June, the American Banking Association recognized Synergy Bank for its decade of success by. Executive Vice President Ben Borne (left) and bank president Jerry Ledet Jr. and credit the bank’s stability to its commitment to growth in the Houma-Terrebonne area. * Photo by SOPHIA RUFFIN
