property tax assessment

Consistency and Quality Help State Bank Expand Their Regional Footprint With Outsourced Commercial Appraisals

A small-town feel with a big bank agenda, the Bank of Idaho uses MountainSeed’s outsourced appraisal management services to grow their community offerings and scale while still holding on their local, home-grown values and excellent customer service.

in assets

customers

commercial reviews in 2018

The Background

 

Starting as a community bank in 1985, the Bank of Idaho quickly found a niche in rural Idaho, helping local communities build for tomorrow. With a focus on people, the Bank of Idaho expanded its footprint in the state and found success financing ranchers and the agriculture industry. As they began to look to the future, their first step was extending to all markets and growing their home equity line of credit offerings.

The Challenge

 

With an institution of their size, the Bank of Idaho could never justify an internal team dedicated to commercial appraisals. For years, different groups managed evaluations internally, and over time, the expense and regulatory issues grew. They needed a partner who could match their unique culture and appraisal demand with a solution that was cost-efficient and personal.

For a bank of our size, the MountainSeed solutions are perfect. Everything from the consistency to the efficiency of our commercial appraisals has improved. They really understand our consumer loans, and they always provide 100% quality.

Warren RobertsVice President Credit Administrator at Bank of Idaho

We love the MountainSeed team. We’re in constant contact — always emailing with new requests and questions — and they always make sure we’re taken care of. We feel like their only customers, even though we know we’re not.

Warren RobertsVice President Credit Administrator at Bank of Idaho

The Solution

 

After discovering MountainSeed, the Bank of Idaho saw almost an overnight improvement in the consistency, turn around time, and value of their commercial appraisals. As the nation’s largest commercially focused appraisal management company with experience on all types of appraisals, MountainSeed was able to improve and increase efficiency at their institution and provide much-needed assistance as the Bank of Idaho began to scale their operations.

“Our favorite part of working with MountainSeed is the personal touch,” says Warren Roberts, Vice President Credit Administrator at Bank of Idaho. “But we were genuinely surprised by the affordable service offerings that helped us save money and provide more value to our customers. They really support us as a small bank in handling the regulations, which improves our quality and ability to grow.”

The Results

By adding Mountainseed as a partner, the Bank of Idaho was able to improve their internal workload, streamline their processes, and deliver better results for their customer base.

“We absolutely plan to continue using MountainSeed to do all of the commercial ordering and reviews,” says Roberts. “The team has been a lifesaver.” “They are also helping us on the loan participation side, which enables us to do bigger deals. As we expand into purchasing more participations, we’re excited to partner with them on a more frequent basis.”