Business View Magazine | July 2022

127 BUSINESS VIEW MAGAZINE VOLUME 9, ISSUE 7 F I RST NAT IONAL BANK OF GROTON This factor, along with experiencing a slowdown in our local loan demand added to our liquidity. Many, like us, looked to deploy those deposits to get some sort of spread. With all the extra cash on hand, we turned to buying loans through the BHG Financial (formerly Bankers Healthcare Group) program. We were new to the program and the staff at BHG Financial helped us through the entire process. We found purchasing the loans turned out to be quick, safe and easy, and has had a nice effect on our bottom line.” As First National Bank of Groton moves past the pandemic and into the future, they hope to keep pushing to add new technology and new services for their customers, while maintaining that friendly, familial, community-focused mission that they’re known for. While mergers and consolidations may be happening to smaller banks across the country, it’s not in the cards for this community bank. “We obviously want to remain independent,” Andrew says. “That’s what we’ve always been focused on being and I don’t think our shareholders would like it if we were no longer to be that small, community bank that we’ve always been. As far as our growth potential goes, I think it all lies in the technology being able to match what the larger banks have, and thankfully, our partners are able to help us remain competitive in that aspect.”