Lyon County State Bank Supports Startups and Small Businesses Across the Region

Residents and business owners across Emporia have access to one of the best community banks in the region. Lyon County State Bank (LCSB) has been a staple of the area since 1913 and continues to serve customers with the same care as it did 112 years ago.

“Our staff is made up of local people who believe in building up the community,” says Russ Bonitatibus, Senior Vice President at LCSB. “We are on a first-name basis with most of our customers and put a lot of emphasis on customer service.”  

The bank's mission is to build families, friends, and futures. Not only has this mantra made LCSB an asset to the community, but it has propelled it into a financial leadership position in the region. When COVID-19 threatened to shut down the nation, this team of banking professionals was ready to act.

Keep reading to discover why there is so much value in having a quality community bank in the county. 

The Bank is a Preferred Lender Through the SBA

LCSB has several long-tenured employees who have become experts in loans and financing over the years. Bonitatibus has been a commercial lender for 28 years and has worked at LCSB for 24 years. When the 9/11 attacks rocked the United States – and the world – Bonitatibus was in his first week of work.

This expertise is evident in the relationships LCSB staff have with the community and with loan organizations. The bank is part of the Preferred Lender Program (PLP) by the U.S. Small Business Administration (SBA). This means the bank can make loan and credit decisions without going through the SBA for approval. Business owners benefit by getting the financing they need faster when they qualify.  

“Entrepreneurs and small businesses drive our community,” says Bonitatibus. “We are advocates for startups, acquisitions, and existing businesses in Lyon County.”

The team at LCSB also looks for creative solutions to help business owners and entrepreneurs get the financing they need. If an applicant doesn’t have a large down payment or enough collateral, they work to identify options to help these commercial borrowers achieve their goals.  

Experience With the SBA Was Invaluable During the Pandemic

A trusted relationship with the SBA is always valuable, but LCSB’s knowledge and understanding of government loans were essential for Emporia business owners during the COVID-19 pandemic. The government launched the Paycheck Protection Program (PPP) in March 2020, which allowed businesses to receive emergency funding with opportunities for loan forgiveness. While the program was beneficial, it was also brand new, and many banks didn’t know how to navigate the process of applying for and issuing loans.

“We took off Easter Day, but other than that, we were working 10-hour days, seven days a week, to help businesses get PPP financing,” says Bonitatibus.

LCSB was so effective in helping businesses with PPP financing that companies outside of Lyon County started contacting them for help. And it was a good thing they did. The $349 billion allocated for PPP funding ran out by April 16, leaving many applicants without the financing they had hoped for.

“This is what it means to be a partner within the community,” says Bonitatibus. “The average person didn’t understand the PPP loan because it was so complex, and they relied on Lyon County State Bank to learn about their options.”

It’s impossible to know what Emporia’s economy would look like today without LCSB staff working tirelessly during the pandemic, but it's clear that many businesses are better off because of it. 

LCSB Staff Are Actively Involved in the Emporia Community

LCSB employees are actively involved in several regional organizations, including the Emporia Area Chamber of Commerce, Emporia Main Street, and United Way of the Flint Hills. LCSB staff have also supported and worked with the Emporia Regional Development Association (RDA).

“We all try to participate in local organizations,” says Bonitatibus. “It shows our commitment to being a good community partner.”

This could mean sitting on various committees and boards or simply volunteering for something a team member is passionate about. For example, Bonitatibus was a volunteer firefighter for 14 years and is actively involved in Emporia’s Unbound gravel bike race (amongst other races) throughout the year.  

One of LCSB's most notable traditions is hanging banners of local veterans outside the bank in November. In any given year, between 20 and 40 banners are displayed around the building, honoring people in Emporia who have served their country, including Russ Bonitatibus (shown above), who has served our country with the same commitment and dedication that he serves his customers and community today.

Adding a banner is free for anyone who wants one. This connects the community to their friends and neighbors who have served. Residents stop by to see the banners of loved ones, while customers recognize the names and faces displayed around the building.  

Emporia is Strong Because of Its Community Partners

Lyon County State Bank is part of the fabric of Emporia. It supports entrepreneurs and small business owners in reaching their financial goals, which develops and diversifies the local economy. Whether Bonitatibus and his team meet with a coffee shop owner or a local manufacturer, they understand the value these businesses provide residents.

Learn more about Emporia’s economy and the companies choosing to operate here. From ample education opportunities to workforce development programs, the people in Emporia have the skills employers need to thrive here.