Lake City Bank's Todd Bruce joins Indiana Community Business Credit Corp. loan committee

Todd Bruce, Senior Vice President at Lake City Bank of Warsaw, has been named to the Indiana Community Business Credit Corporation's statewide loan committee. The Indiana Community Business Credit Corporation manages a $25 million pool of risk capital to provide loans to Indiana businesses. The pool is provided by 31 Indiana member banks, including Lake City Bank. "Since 1872, Lake City Bank has continually looked for new ways to help our clients reach their goals. The Credit Corporation is a great partner; it has helped us generate much-needed capital for several small companies. For that reason, I'm excited about helping the Credit Corporation's loan committee evaluate new loan applications," Bruce said. Jean Wojtowicz, Executive Director of Indiana Community Business Credit Corp. said, "The Credit Corp. offers banks a way to stretch further than they can on their own. A Credit Corp. loan is called 'mezzanine financing' because it fits between the senior debt and the equity portion of the balance sheet. "The loan committee is vital to our success, and we are pleased that Todd is taking on this new role in addition to his other duties with Lake City Bank, Wojtowicz says." The Credit Corp. has participated in projects for 140 companies totaling $280 million, with over $56 million provided by the Credit Corp., since its founding in 1986.