22nd State Bank, A Division of 22nd State Banking Company: SBA business acquisition lending record
22nd State Bank, A Division of 22nd State Banking Company (home state AL) approved 141 SBA 7(a) loans to buy existing businesses since FY2018, totaling $185M. The median loan was $990,000. It ranks number 69 of 280 lenders by count and made 0.3% of all SBA acquisition loans nationally.
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What this tells a borrower
- Deal size it funds. Half of its acquisition loans fell between $500,000 and $1,825,000. If your deal sits well outside that band, this lender may be less practiced at it.
- Geographic reach. Florida is the largest state (11% of loans). Loans appear in at least 15 states, which points to a national lender.
- Industry concentration. Residential Remodelers is 5% of its acquisition loans. The mix is spread across several industries.
- Overall 7(a) volume. 334 SBA 7(a) loans of any purpose since FY2020, totaling $390M. 86% of its acquisition loans were processed under the Preferred Lenders Program.
- Franchise share. 10% of its acquisition loans involved a franchise brand, against 18% for all lenders.
- Seasoned performance. Of its loans from FY2019 to FY2021: none charged off, against the 3.5% national average.
22nd State Bank, A Division of 22nd State Banking Company acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 0 | $0 | - | |
| FY2019 | 2 | $918K | $459,000 | |
| FY2020 | 8 | $12.5M | $958,500 | |
| FY2021 | 21 | $21.1M | $747,000 | |
| FY2022 | 14 | $19.3M | $1,252,500 | |
| FY2023 | 37 | $49.6M | $1,000,000 | |
| FY2024 | 40 | $57M | $1,047,800 | |
| FY2025 | 10 | $13.4M | $998,500 | |
| FY2026 | 9 | $11.4M | $721,000 |
How often do these acquisition loans fail?
Of the 31 22nd State Bank, A Division of 22nd State Banking Company acquisition loans approved from FY2019 to FY2021 (the seasoned cohort, every loan at least about five years old), none have been charged off by the SBA. 7 have already been paid in full.
For comparison, 22nd State Bank, A Division of 22nd State Banking Company has none charged off, against the 3.5% average across all SBA 7(a) acquisition loans in the FY2018 to FY2021 cohort. Non-acquisition 7(a) loans (every other stated purpose) approved FY2018 to FY2021 charged off at 6.2%.
"Charged off" is the SBA's final loss action on a defaulted loan after collection efforts. It lags default by a year or more, which is why only older cohorts are measured. It is not the same as a delinquency rate, and loans still outstanding can still fail. See charge-off in the glossary.
Seller note standby terms and third-party consents are reviewed before closing.
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States served
| # | State | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Florida | 16 | 11.3% | $20.5M | |
| 2 | California | 12 | 8.5% | $12.5M | |
| 3 | Colorado | 9 | 6.4% | $17.6M | |
| 4 | Texas | 8 | 5.7% | $9.7M | |
| 5 | Arizona | 7 | 5.0% | $9.7M | |
| 6 | Georgia | 6 | 4.3% | $6.5M | |
| 7 | Wisconsin | 6 | 4.3% | $6.4M | |
| 8 | North Carolina | 5 | 3.5% | $9.2M | |
| 9 | Alabama | 5 | 3.5% | $5.8M | |
| 10 | Pennsylvania | 5 | 3.5% | $3.7M | |
| 11 | New Jersey | 5 | 3.5% | $2.5M | |
| 12 | Washington | 4 | 2.8% | $8.3M | |
| 13 | Nevada | 4 | 2.8% | $6M | |
| 14 | Massachusetts | 4 | 2.8% | $5.2M | |
| 15 | Hawaii | 4 | 2.8% | $5M |
Industries financed
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Residential Remodelers | 7 | 5.0% | $10M | |
| 2 | Plumbing, Heating, and Air-Conditioning Contractors | 6 | 4.3% | $10.6M | |
| 3 | Full-Service Restaurants | 5 | 3.5% | $7.4M | |
| 4 | Limited-Service Restaurants | 5 | 3.5% | $3.6M | |
| 5 | Janitorial Services | 4 | 2.8% | $5.1M | |
| 6 | All Other Specialty Trade Contractors | 4 | 2.8% | $4.9M | |
| 7 | Home Health Care Services | 4 | 2.8% | $4.7M | |
| 8 | Electrical Contractors and Other Wiring Installation Contractors | 3 | 2.1% | $11.1M | |
| 9 | Landscaping Services | 3 | 2.1% | $4.4M | |
| 10 | Hotels (except Casino Hotels) and Motels | 3 | 2.1% | $3.9M |
The purchase agreement decides what you bought, not the loan approval.
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Franchise brands financed
| # | Franchise | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | The UPS Store | 2 | 1.4% | $2.5M | |
| 2 | Motel 6 | 2 | 1.4% | $2.1M | |
| 3 | Firehouse Subs | 2 | 1.4% | $894K | |
| 4 | Edible Arrangements | 1 | 0.7% | $1.2M | |
| 5 | Little Caesars | 1 | 0.7% | $1M | |
| 6 | Garage Living | 1 | 0.7% | $833K | |
| 7 | The Maids | 1 | 0.7% | $772K | |
| 8 | Petland | 1 | 0.7% | $596K | |
| 9 | Home Instead | 1 | 0.7% | $432K |
Questions buyers ask
Does 22nd State Bank, A Division of 22nd State Banking Company make SBA acquisition loans?
Yes. 22nd State Bank, A Division of 22nd State Banking Company approved 141 SBA 7(a) loans to buy existing businesses from FY2018 to FY2026, ranking number 69 of 280 lenders with 25 or more such loans. The SBA file shows past approvals only; it cannot tell you whether the lender will approve a particular buyer or deal.
How large are 22nd State Bank, A Division of 22nd State Banking Company's acquisition loans?
The median was $990,000, with the middle half between $500,000 and $1,825,000. The national median is $645,250, so this lender's typical loan is 53% higher than the national figure.
Which states does 22nd State Bank, A Division of 22nd State Banking Company lend in?
Florida (16), California (12), Colorado (9), Texas (8), Arizona (7), Georgia (6). Its loans span at least 15 states.
Which industries does 22nd State Bank, A Division of 22nd State Banking Company finance?
Residential Remodelers (7), Plumbing, Heating, and Air-Conditioning Contractors (6), Full-Service Restaurants (5), Limited-Service Restaurants (5), Janitorial Services (4). The top industry is 5% of its acquisition loans.
How have 22nd State Bank, A Division of 22nd State Banking Company's acquisition loans performed?
Of 31 loans approved FY2019 to FY2021: none charged off, against the 3.5% national acquisition average. Charge-offs reflect the borrowers and industries a lender serves as well as its underwriting.
That draft favors the seller. We review it for the buyer, line by line.
Submit Transaction DetailsAlex Lubyansky leads every engagement.
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Related
- Florida acquisitions
- California acquisitions
- Colorado acquisitions
- Residential Remodelers
- Plumbing, Heating, and Air-Conditioning Contractors
- Full-Service Restaurants
- All lenders
Figures are aggregates of public SBA data. This page is not provided or endorsed by 22nd State Bank, A Division of 22nd State Banking Company.