As the Chief Lending Officer at Cross River, I’ve witnessed firsthand the resilience that defines our journey, especially over the past year. Despite the high interest rates and tight credit market, we’ve successfully closed 69 loans nationwide, totaling nearly a billion dollars. This achievement is not just a number; it’s a testament to our unwavering commitment to our clients during challenging times.
Cross River was born in the midst of the 2008 financial crisis, a time of unparalleled challenges across the credit market, banking sector, and real estate market. The lessons learned from that era have been instrumental in shaping our approach to the current economic landscape. We believe challenges present opportunities for growth and innovation, and our recent successes reflect this philosophy.
Our strategy has always been client-centric. We focus on building real relationships, not just transactions. This means understanding our clients’ needs and crafting tailored solutions that go beyond the numbers. It’s not always about offering the lowest rate; it’s about providing value through customization and creativity, coupled with our unwavering commitment to credit quality.
As we look ahead to 2024 and beyond, we anticipate that the current conditions will persist. And many of us view this as the ‘new normal’ and an opportunity to earn our clients’ trust by working through their challenges together.
Our diversified business model has been key to navigating the post-pandemic realities, particularly in the office and retail space. We’ve ensured that our portfolio remains robust, even as we face headwinds in the market. Our focus on diversification allows us to mitigate risks and continue supporting our clients across various assets, sectors, and markets.
The journey of Cross River is one of perseverance, innovation, and a deep commitment to our clients. We are more than just a bank; we are relationship builders, problem solvers, and community supporters. As we embrace the new year, we remain dedicated to our mission of making a positive impact in the lives of our clients and communities.