Citizens Bank made most SBA loans upstate, but HSBC leads statewide

Citizens Financial Group of Rhode Island made the most loans under the U.S. Small Business Administration programs in upstate New York, but HSBC Bank USA takes the top spot statewide in both number of loans and total dollars.

The claims by the two banks show the eagerness with which the industry seeks to tout its involvement with small business lending. It also points up the difference between number of loans, and size of loans.

Rhode Island-based Citizens, a subsidiary of Royal Bank of Scotland Group Plc that entered New York and the Midwest through its purchase of Charter One Financial of Cleveland, is nationally known for being an active lender to small businesses. It's ranked No. 2 nationally in number of loans, behind Bank of America Corp.

Since completing its purchase of Charter One, it has been aggressively expanding its small business lending throughout its new markets, and has quickly touted its success in achieving the top ranking in each area. But many of its loans are small in size, and it's not usually the top lender in dollars.

By contrast, HSBC and cross-town rival M&T Bank Corp. tend to make fewer, but larger small business loans. And both have a more statewide presence than Citizens, with branches in the lower Hudson Valley and New York City.

Citizens had previously been awarded the top spot for number of loans in the Buffalo district alone, which serves eight counties of Western New York. M&T was No. 1 for dollars approved.

In its first full year of operating in New York state, Citizens had more than 1,300 SBA loans approved in the Buffalo and Syracuse districts, which cover upstate and the upper Hudson Valley. It's also the No. 1 SBA lender in the Mid-Atlantic region and the No. 2 lender nationally for the fourth straight year.

However, statewide, HSBC was the top SBA lender overall in both number of loans and total dollars in New York for the third year in a row. The Delaware-based bank, Buffalo's largest by deposit market share, had 1,843 SBA loans approved for $138 million. Nationwide, HSBC rose from 10th to 8th, with 2,171 loans for $163 million.

Citizens was second in number of loans statewide, with 1,546. M&T was second in dollar volume in New York, with $68 million, less than half of HSBC's total.

What are people saying about mortgages today:

Rates on 30-year mortgages edged down last week to a seven-month low. Mortgage-giant Freddie Mac reported Thursday that 30-year, fixed-rate mortgages fell to 6.3 percent, down slightly from 6.31 percent two weeks ago. It put rates at the lowest level since they were at 6.24 percent the first week of March.

Bank of Hawaii, Central Pacific Bank, Territorial Savings Bank and Wells Fargo Home Mortgages all cut their 30-year mortgage rates to 5.75 percent this week.

Most people think of a mortgage as a means to an end. After all, you buy a house, not a home loan. But a mortgage is much more than the path to homeownership. It is a financial instrument that must be managed, just like any other financial investment.