Southern Nevada’s community-led bank has exceeded $100 million in core loans since completing its first loan in August 2019.
LAS VEGAS, May 11, 2022 — Lexicon Bank, Nevada’s community-focused banking partner, has exceeded $100 million in core loans since completing its first loan in August 2019. At the close of Q1 2022, Lexicon Bank reported assets totaling $254.9 million.
Lexicon Bank was envisioned and created by experienced members of the Vegas community. Their vision, which the Bank champions today, is to be the approachable, private banker for businesses—no matter the size.
Throughout the pandemic, Lexicon Bank served a critical role in supporting local small businesses and keeping doors open through the Small Business Administration’s Paycheck Protection Program (PPP). Since the Bank’s opening in August 2019, Lexicon Bank has made a total of $341.1 million in loans and unfunded lines of credit through Q1 2022, of which $185.0 million were Paycheck Protection Program (PPP) loans.
In February 2022, Lexicon was officially recognized as a “U.S. Small Business Administration Preferred Lender.” This SBA designation gives the bank the ability to provide small business loans to more companies faster than ever before. With this newly delegated authority, Lexicon Bank has the power to approve loans under the SBA 7(a) guarantee program on its own without the separate approval of the SBA.
Lexicon Bank is based in Las Vegas, Nevada at Tivoli Village and serves clients across Southern Nevada. Client services include personal, business and non-profit checking, money market accounts and personalized lending options from Small Business Administration loans to construction loans to commercial real estate loans. The Bank’s primary clients are small businesses, non-profits, business owners, entrepreneurs and professionals in Southern Nevada.
“Since writing our first loan in August 2019, we have seen such incredible demand from our clients and we are delighted to have helped so many already. As a local community bank, we are positioned to be more agile and more flexible than other banks in providing personalized, locally-led solutions for businesses and non-profits. We remain steadfast in fast-tracking lending solutions needed now by our clients,” said Leo Moschioni, Lexicon Bank Executive Vice President and Chief Credit Officer.
“Lexicon bankers know the needs of our community from start-ups to large businesses and everything in-between,” added Stacy Watkins, Lexicon Bank President & CEO. “Since opening, Lexicon has consistently demonstrated our value as a collaborative partner in helping our clients grow, create new opportunities and prosper.”
For more information on Lexicon Bank’s lending services and how to apply visit lexiconbank.com.
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ABOUT LEXICON BANK
Founded in 2019, Lexicon Bank is Nevada’s community-focused banking partner. Lexicon Bank provides private, personal, comprehensive banking services to business and personal banking clients, placing an emphasis on creating and nurturing a long-term relationship. By providing personalized services to all clients, Lexicon Bank helps to foster Southern Nevada’s economy and community – ultimately helping to grow and develop Las Vegas’ local businesses. The bank is redefining banking as it should be in Southern Nevada by creating a private bank for businesses no matter the size. Lexicon Bank is located in Tivoli Village at 330 S. Rampart Blvd., Suite 150. The bank is open from 9 a.m. to 5 p.m. Monday through Friday, 10 a.m. to 2 p.m. on Saturdays, and can be reached by phone at (702) 780-7700 or online at lexiconbank.com. Follow us on Facebook, Instagram, LinkedIn and Twitter @lexiconbank. Lexicon Bank is a member of the Federal Deposit Insurance Corporation (FDIC).
Media Contacts
Stephanie Downing
Revenue Media Group
p: +1 833-202-1300, ext. 404
c: 502-472-7458
e: stephanie.downing@revenuemediagroup.com
