First National Bank of Pennsylvania: SBA business acquisition lending record
First National Bank of Pennsylvania (home state PA) approved 199 SBA 7(a) loans to buy existing businesses since FY2018, totaling $173M. The median loan was $568,000. It ranks number 46 of 280 lenders by count and made 0.4% 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 $225,000 and $1,220,000. If your deal sits well outside that band, this lender may be less practiced at it.
- Geographic reach. North Carolina is the largest state (23% of loans). Loans appear in at least 15 states, which points to a national lender.
- Industry concentration. All Other Specialty Trade Contractors is 5% of its acquisition loans. The mix is spread across several industries.
- Overall 7(a) volume. 732 SBA 7(a) loans of any purpose since FY2020, totaling $675M. 65% 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 FY2018 to FY2021: 6.5% charged off, 84% higher than the 3.5% national average.
First National Bank of Pennsylvania acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 3 | $2.1M | $475,000 | |
| FY2019 | 12 | $12.5M | $955,000 | |
| FY2020 | 16 | $12.8M | $631,100 | |
| FY2021 | 46 | $38.4M | $562,750 | |
| FY2022 | 25 | $24.4M | $424,200 | |
| FY2023 | 23 | $23.2M | $426,400 | |
| FY2024 | 32 | $26.1M | $784,000 | |
| FY2025 | 40 | $31.6M | $566,500 | |
| FY2026 | 2 | $1.8M | $877,250 |
How often do these acquisition loans fail?
Of the 77 First National Bank of Pennsylvania acquisition loans approved from FY2018 to FY2021 (the seasoned cohort, every loan at least about five years old), 5 have been charged off by the SBA, a rate of 6.5% by loan count and 2.2% by dollars. 34 have already been paid in full.
For comparison, the charge-off rate across all SBA 7(a) acquisition loans in the same cohort is 3.5%, so First National Bank of Pennsylvania is 84% higher than the acquisition-loan average. 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.
The purchase agreement decides what you bought, not the loan approval.
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States served
| # | State | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | North Carolina | 46 | 23.1% | $40.5M | |
| 2 | Pennsylvania | 44 | 22.1% | $29.5M | |
| 3 | Florida | 21 | 10.6% | $19M | |
| 4 | Virginia | 18 | 9.0% | $17.8M | |
| 5 | Maryland | 13 | 6.5% | $9M | |
| 6 | Ohio | 12 | 6.0% | $12.3M | |
| 7 | Illinois | 11 | 5.5% | $10.2M | |
| 8 | South Carolina | 7 | 3.5% | $5.9M | |
| 9 | New York | 5 | 2.5% | $4.8M | |
| 10 | Massachusetts | 5 | 2.5% | $3.7M | |
| 11 | New Jersey | 4 | 2.0% | $3.9M | |
| 12 | Michigan | 3 | 1.5% | $5.3M | |
| 13 | Kentucky | 2 | 1.0% | $991K | |
| 14 | Georgia | 2 | 1.0% | $528K | |
| 15 | Tennessee | 1 | 0.5% | $2.4M |
Industries financed
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | All Other Specialty Trade Contractors | 10 | 5.0% | $8.7M | |
| 2 | Plumbing, Heating, and Air-Conditioning Contractors | 8 | 4.0% | $6.1M | |
| 3 | General Automotive Repair | 8 | 4.0% | $5.8M | |
| 4 | Full-Service Restaurants | 7 | 3.5% | $7M | |
| 5 | Child Care Services | 6 | 3.0% | $4.4M | |
| 6 | Landscaping Services | 6 | 3.0% | $2.2M | |
| 7 | Commercial and Industrial Machinery and Equipment (except Automotive and Electronic) Repair and Maintenance | 5 | 2.5% | $5.7M | |
| 8 | Limited-Service Restaurants | 5 | 2.5% | $3.1M | |
| 9 | Offices of Lawyers | 5 | 2.5% | $1.5M | |
| 10 | Finish Carpentry Contractors | 4 | 2.0% | $6M |
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Franchise brands financed
| # | Franchise | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Ford Motor Company | 2 | 1.0% | $1.5M | |
| 2 | Home Instead | 1 | 0.5% | $4.1M | |
| 3 | Do it Best | 1 | 0.5% | $2M | |
| 4 | The Goddard School | 1 | 0.5% | $1.6M | |
| 5 | PuroClean | 1 | 0.5% | $1.1M | |
| 6 | SpeedPro Imaging | 1 | 0.5% | $999K | |
| 7 | Moe's Southwest Grill | 1 | 0.5% | $931K | |
| 8 | Image360 | 1 | 0.5% | $475K | |
| 9 | Kiddie Academy | 1 | 0.5% | $451K |
Questions buyers ask
Does First National Bank of Pennsylvania make SBA acquisition loans?
Yes. First National Bank of Pennsylvania approved 199 SBA 7(a) loans to buy existing businesses from FY2018 to FY2026, ranking number 46 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 First National Bank of Pennsylvania's acquisition loans?
The median was $568,000, with the middle half between $225,000 and $1,220,000. The national median is $645,250, so this lender's typical loan is 12% lower than the national figure.
Which states does First National Bank of Pennsylvania lend in?
North Carolina (46), Pennsylvania (44), Florida (21), Virginia (18), Maryland (13), Ohio (12). Its loans span at least 15 states.
Which industries does First National Bank of Pennsylvania finance?
All Other Specialty Trade Contractors (10), Plumbing, Heating, and Air-Conditioning Contractors (8), General Automotive Repair (8), Full-Service Restaurants (7), Child Care Services (6). The top industry is 5% of its acquisition loans.
How have First National Bank of Pennsylvania's acquisition loans performed?
Of 77 loans approved FY2018 to FY2021: 6.5% charged off, 84% higher than the 3.5% national acquisition average. Charge-offs reflect the borrowers and industries a lender serves as well as its underwriting.
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Related
- North Carolina acquisitions
- Pennsylvania acquisitions
- Florida acquisitions
- All Other Specialty Trade Contractors
- Plumbing, Heating, and Air-Conditioning Contractors
- General Automotive Repair
- All lenders
Figures are aggregates of public SBA data. This page is not provided or endorsed by First National Bank of Pennsylvania.