Haddock to lead Small Business Division at FNBC
FNBC Bank, the $700 million asset lender headquartered in Ash Flat, has hired Edward Haddock to lead its Small Business Division, according to President & CEO Marty Sellars. Haddock, who began his new role on Dec. 5, brings over a decade of experience working for the U.S. Small Business Administration.
“In October, we shared with our employees at a company-wide meeting that we intended to become a leader in SBA lending in Arkansas,” said Sellars. “That’s a big statement to make. It’s exciting to take this strategic step toward achieving that vision. Edward’s experience, knowledge and leadership will provide so much value for our existing and prospective small business clients as they look to expand an existing business or finally launch the business they’ve dreamed of opening.”
In this new role, Haddock is tasked with leading the growth of FNBC’s small business portfolio, as well as recruiting and developing a team of business bankers to realize FNBC’s vision of becoming the small business bank of choice.
“As a CDFI, FNBC’s mission closely aligns with my previous work and passion to provide financial products and services that foster economic development throughout each market we serve, including a focus on underserved communities,” said Haddock. “I have devoted the past 11 years of my career to supporting inclusive economic development and am especially passionate about ensuring we provide greater access to opportunities that increase economic mobility,” said Haddock. “I am excited to begin this new chapter of my career at FNBC, where together we can bring additional value, support and success to the business community in Arkansas.”
Most recently, Haddock served as the District Director for the Arkansas District of the U.S. Small Business Administration where he oversaw training and development of all facets of SBA lending to the Arkansas lending market, developed and led local, state and national strategic partnerships and joint businesses planning for entrepreneurial support organizations, and led the successful delivery of more than $7 billion in SBA Covid relief lending across the district.
“FNBC is fortunate to have recruited one of the best SBA minds and leaders in Arkansas,” said Chad Hudson, Regional President & Chief Lending Officer. “Edward and I have served together on the Arkansas Small Business & Technology Development Center advisory board for the last several years, and I have gained immeasurable respect for his vast knowledge of SBA. Having him at the helm of our Small Business Division with our already strong SBA team will bring even more value and opportunities for our clients.”
Haddock has a Master of Business Administration with a Finance concentration from The State University of New Jersey, Rutgers Business School. He has twice been recognized as Arkansas Business 250 Most Influential Leaders in Economic Development.
FNBC, which has 14 offices throughout North Central and Northeast Arkansas, and Southeast Missouri, formed its Small Business Division in 2018 and became an SBA Preferred Lender by the U.S. Small Business Administration later that same year. In 2019, FNBC was named Arkansas SBA Lender of the Year for Banks $400-700 million in assets. It also disbursed more than $42 million in Paycheck Protection Plan, or PPP, funds during the Covid-19 pandemic in 2020, leveraging its Preferred Lender status to guarantee funds for customers more readily.
In 2016, it was awarded Community Development Financial Institution designation by the CDFI Fund, part of the U.S. Department of Treasury, which indicates the bank has devoted at least 60 percent of its total lending, services and other activities to benefit low-income communities. This designation allows FNBC to be eligible for grant opportunities to ensure fair access to financial resources for underserved people and communities.