Another breakout year by Las Vegas’s first community-chartered bank in more than a decade is attributed to its speed, agility, and local leadership serving businesses throughout the pandemic.
LAS VEGAS, August 3, 2021— Lexicon Bank, Las Vegas’s first community-chartered bank in more than a decade, celebrates its second anniversary serving Southern Nevada this August 2021. To commemorate this milestone, Lexicon Bank is doubling down on business lending services and community engagement to meet the most urgent needs of local businesses and nonprofits.
President & CEO Stacy Watkins will participate in Nevada Business Magazine’s “Banker’s Roundtable” on Thursday, August 5th to discuss relevant banking issues and trends with top industry leaders that will be reported in the September issue of Nevada Business Magazine.
In partnership with Better Business Bureau of Southern Nevada, Lexicon Bank’s Chief Credit Officer Leo Moschioni will lead a lending-focused webinar on National Startup Day on Wednesday, August 18th at 10am PT to offer entrepreneurs, startups, and other businesses across Nevada tips on growing their business. The Q&A-oriented event will dive into Small Business Administration (SBA) loans and commercial lending products that support business sustainability and expansion.
Businesses can sign up for the webinar here.
In October, Lexicon Bank will also lead a lending seminar and networking event for women-owned businesses and their leadership in partnership with the National Association of Women Business Owners (NAWBO) to kick off National Women’s Small Business Month.
Throughout the pandemic, Lexicon Bank served a critical role in the community by helping numerous small businesses, including restaurants, nonprofits and sole proprietors, stay open through the aid of a U.S. Small Business Administration Paycheck Protection Program (PPP) loan and/or commercial lending product. Since the Bank’s opening in August 2019, Lexicon Bank secured over $280 million in funding for business clients and preserved thousands of jobs.
Lexicon Bank’s speed, agility, and local leadership serving the business community led the Bank to record back-to-back profitable quarters in Q1 and Q2 2021 since its opening in August 2019, a feat very few DeNovo institutions can hit in their first two years of operation. This explosive growth has doubled the size of the team to serve its client base, which appreciates the on-demand private banking relationship and ability to fast track lending requests compared to other banks, which has become a competitive advantage for the community lender.
Total assets as of June 30, 2021, totaled $290.34 million, an increase of 16.83% YoY. The rise in assets is a combination of core growth and additional PPP lending.
“We are so proud to be celebrating our second anniversary,” recounts Stacy Watkins, President & CEO of Lexicon Bank. “This past year was one of resilience, and our incredible clients and team showed great tenacity overcoming the many challenges hitting Southern Nevada. These challenges remain and we continue to stay focused on delivering solutions that matter most to our business and nonprofit community.”
Year two kicked off Lexicon Bank’s annual Community Spotlight program in the fall of 2021, a monthly initiative that highlights local nonprofit organizations that are making a difference in the Southern Nevada community. In addition to Board leadership, Lexicon Bank’s support ranges from volunteering to giving a cash donation to generating awareness of the cause. 2020-2021 community spotlights included:
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October – Junior Achievement of Southern Nevada
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November – Three Square
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December – Opportunity Village
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January – Nevada Ballet Theatre
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February – American Heart Association
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March – The LGBTQ Center of Southern Nevada
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April – Collaboration Center Foundation & Grant A Gift Autism Foundation
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May – Operation Homefront
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June – Discovery Children’s Museum
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July – Communities in Schools of Nevada
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August – JDRF
The Bank is thankful for the loyalty of its clients, support from its shareholders, and the relentless dedication and passion of its Board and team members.
Lexicon Bank is an A+ rated financial institution on BBB of Southern Nevada and an active business ambassador in the professional community, including memberships with the Vegas Chamber, Henderson Chamber of Commerce, Nevada Bankers Association, Certified Commercial Investor Member (CCIM), Commercial Real Estate Women (CREW), International Women’s Forum (IWF), and National Association of Women Business Owners (NAWBO).
For more information on Lexicon Bank products and services, 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 customers, placing an emphasis on creating and nurturing a long-term relationship. By providing personalized services to all customers, Lexicon Bank helps to foster Southern Nevada’s economy and community – ultimately helping to grow the Las Vegas local business economy. The bank is redefining banking as it should be in the Las Vegas Valley and Southern Nevada by creating a private bank for small 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. Lexicon Bank is a member of the Federal Deposit Insurance Corporation (FDIC).
Follow us on social media at @lexiconbank on Twitter, Instagram, LinkedIn, and on Facebook at facebook.com/lexiconbank/.
Media Contact
Zoë Kellner
Revenue Media Group
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