Banking experts can help businesses weather uncertainty

In a shifting economic landscape, small businesses need more than just financial services; they need true partners. Our panelists share insights on the value of community banking, personalized service and proactive financial planning. From accessing capital to navigating uncertainty, they offer a closer look at what it takes to thrive in today’s market and how banking partners can help.

PANELISTS

Crystal Dionne, president & CEO, Primary Bank, primarybanknh.com

John Bortolotto, senior vice president and Southern New Hampshire market leader, Mascoma Bank, mascoma.bank

Tina Lunderville, assistant vice president/commercial banker, Passumpsic Bank, passumpsicbank.com

Leanne M. Corning, SVP client experience, BankProv, bankprov.com

Crystal Dionne, president & CEO, Primary Bank 

What qualities should a small business consider when selecting a bank?

In today’s world, customization is everywhere. Thanks to advances in technology and artificial intelligence, most businesses can now tailor services to their needs like never before. Still, no amount of automation can replace the real, human connection that community banks provide.

For small businesses, that personal touch isn’t just a nice-to-have; it’s essential. Small business owners need to know their bank is a financial partner that truly understands their unique challenges, because in many cases, their livelihood depends on it.

Local banks remain firmly rooted in their communities. A local bank is not simply a service provider; we are your neighbors, your customers and your partners. We live and work in the same community and make decisions based on firsthand knowledge of our local economy.

How do community banks differentiate themselves from regional or national banks?

While today’s banking landscape offers more options than ever, from online services to fully virtual institutions, local banks remain essential. We don’t just provide financial support; we directly invest in the success and vitality of the clients we serve.

In many cases, community banks offer small businesses what big banks can’t: better access to capital, personalized and creative financial solutions, and exceptional customer service when it’s needed most.

Community banks offer personalized banking that is all about flexibility, creativity and truly understanding our clients. Unlike national banks that rely on standardized processes and automated systems, community banks like Primary take a hands-on approach, crafting financial solutions that fit your specific needs.

Why is it important for NH businesses to have access to banks that are also based in NH?

In New Hampshire, small businesses are the backbone of our economy. An incredible 99% of businesses in the state are categorized as small businesses, and they employ more than half of the Granite State’s workforce.

Primary was founded with one goal: to champion local banking and decision-making in a world where big, out-of-state banks are taking over, and community banks are disappearing. Just in the last six months, three local banks have been sold to out-of-state banks.

Our mission is to provide tailored financial solutions that help small and medium-sized businesses in Southern New Hampshire thrive. As a New Hampshire bank, we take the time to get to know our business clients, their vision, their history and their character. That means we can be more flexible, more creative and more understanding when it comes to lending decisions. Here, relationships matter, and business owners aren’t just account numbers; they’re valued members of the community.

Why is bigger not always better when it comes to banking?

Over the past two decades, the landscape of community banking has shifted dramatically. While 43 banks operate in New Hampshire, only 16 are headquartered here, including Primary Bank — and even fewer focus on serving small businesses.

This consolidation of community banks has real consequences for small businesses and our local economic landscape. When banks merge into larger institutions, lending decisions move further away from the people and businesses they impact. At Primary Bank, we believe there’s a better way. Business banking should be local, and we’re committed to keeping it that way.

Local banks play an intentional role in key foundational aspects that strengthen our communities, like lending for new housing, funding to help the growth of small businesses, or providing investment opportunities that allow municipalities to reinvest public funds into their own communities.

At Primary Bank, we believe that strong businesses build strong communities, and we’re here to make sure both continue to thrive.

John Bortolotto, senior vice president and Southern New Hampshire market leader, Mascoma Bank 

What are you seeing in the financial sector this year?

As 2025 unfolds, businesses face an increasingly volatile economic landscape. The International Monetary Fund (IMF) has recently warned that aggressive trade policies, including heightened U.S. tariffs and retaliatory measures from China, could lead to a $1 trillion loss in global output. These developments have introduced significant uncertainty, with the IMF projecting a decline in global growth from 3.3% in 2024 to 2.8% in 2025.

In this context, proactive financial planning becomes essential.

In an uncertain market, how can business owners best position themselves financially?

Planning ahead is key. Access to capital is much easier when your financials are strong and you’re not under pressure. Whether you’re preparing for growth or guarding against volatility, it’s smart to establish credit lines and financing options before they’re urgently needed. It gives you flexibility when the unexpected happens.

How do deposits factor into that strategy, and what should business owners consider?

Deposits play a bigger role than most people realize.

They’re important to the bank, and they often impact loan pricing and relationship value. Right now, with liquid funds earning competitive rates, idle cash can actually help offset borrowing costs. That makes your overall financial setup more efficient.

Are outdated processes holding businesses back from adapting to market changes?

Often, yes. If you’re still relying heavily on cash or paper checks, it’s time to modernize. These methods are slower, more expensive and less secure. Most financial transactions can now be done remotely and efficiently freeing up time (wage cost!), reducing risk and giving you better visibility into your cash flow.

Final thoughts for navigating a volatile market?

Use the same tools in calm and storm: credit, deposits and automation. The key is proactive planning. Stay connected with your banker, and treat them as a strategic partner, not just a service provider. That relationship can make all the difference when things shift.

How are you helping your customers through the planning process?

We take a consultative approach by helping clients plan ahead with flexibility in mind, focusing on liquidity, credit access and operational efficiency. In a volatile market, it’s about identifying blind spots, like outdated payment processes or idle cash, and turning them into strategic advantages. Rather than pushing products, we act as partners, helping clients position themselves for growth or resilience, not just for today, but for what’s ahead.

Tina Lunderville, assistant vice president/commercial banker, Passumpsic Bank 

What kind of service does Passumpsic provide?

In its popular “Bank of the Wild” advertising campaign, Passumpsic Bank features a fictional bank branch located deep in the woods. It is situated there for the convenience of hikers, bikers and anyone else with a passion for adventure. It’s an exaggerated reflection of Passumpsic’s commitment to being wherever their customers need them. Aligned with that “wherever” customer promise is another pledge of “whatever” — meaning whatever their customers need, Passumpsic will provide. That includes commercial lending.

The business line is a key ingredient that has helped Passumpsic Bank continue to grow after 172 years in a market constantly facing new competition and an increase in mergers. It’s also a key ingredient for many of Passumpsic Bank’s business customers. But while Passumpsic offers a variety of business loans, including commercial real estate, Small Business Administration and lines of credit, they believe their brand of local, personalized service is the secret sauce.

The Passumpsic Bank’s way of working with local business owners is to see that every client interaction is unique. We thrive on the challenge of working with them to formulate a great plan and “lending story.”

Why has Passumpsic Bank been successful in the commercial lending space for so long?

It has to do with our service. It’s top notch. We’re a lender that’s going to do the background work, dig a little deeper and explore every option. We give every client the service they deserve, because everyone who walks in this door is different and every commercial loan is different. How did you find your dream? What’s your niche? I want to learn about their passion because that gives me insight into what they want to accomplish and whether it’s a reality. We are honest. We are going to be clear on expectations, and I think people appreciate that.

What does the idea of personalized service really mean for a commercial lending customer?

It’s about customized financial solutions. The best part about commercial lending is that every loan and every client, every story, is different. We take the time to learn every situation, sit down and ask questions, do a site visit. We get to know each subject and each client. Do your job, do it thoroughly, and the client will get something created specifically for them. And the relationship doesn’t end when you sign the closing docs.

What are the advantages of working with a lender that is part of a bank’s overall team?

You can get comprehensive financial advice because we offer more than just loans. Sometimes people don’t know what they need. These people are trusting me, and if I see an avenue that will benefit them, I’m going to say something, make a referral. It’s my job to make sure I am laying the land for them, whether it’s a commercial loan, a checking account, or a 529 for their child going to college in a few years.

What are the advantages of working with a local lending team?

The decision-making happens locally; we don’t answer to a higher corporate entity. When you are a local bank like Passumpsic, you are more in touch with your local people. Unless you’re in the community, you don’t really know what’s happening or understand what steps a client wants to take. If you take the time to learn about your client, their background and their “why,” then that helps to formulate a successful lending story.

Leanne M. Corning, SVP client experience, BankProv

What are the advantages of banking locally with a community-driven bank?

Banking with a community-focused institution like BankProv means you’re not just a number; you’re a valued partner. Local banks understand the unique challenges and opportunities of the communities they serve. Decisions are made closer to the customer, resulting in faster responses, more flexibility and personal attention you simply won’t get from national banks.

Plus, we’re invested in the success of the local economy. When you bank with a community bank, your dollars help support small businesses, nonprofit organizations and neighborhood development. It’s a relationship built on trust, shared goals and long-term success.

What product do you recommend for businesses to protect against fraud?

We recommend positive pay. It’s one of the most effective tools for protecting against check and automated clearing house (ACH) fraud. With positive pay, your business submits a list of authorized checks and ACH transactions to your bank. If anything doesn’t match — like the check amount, number or payee — the transaction is flagged or rejected. It’s a proactive layer of protection that can catch fraud attempts before the money leaves your account.

For ACH, businesses can set parameters or block unauthorized debits, adding further control. Given the rise in fraud targeting small and medium-sized businesses, positive pay is no longer a “nice to have” — it’s essential.

Is positive pay difficult to set up or maintain?

Not at all. Banks typically offer online portals where businesses can easily upload or automate their issued check files. Ongoing maintenance is minimal, especially compared to the time and cost of resolving fraud after it occurs.

Is deposit insurance important for businesses, and how does it work?

Deposit insurance is a critical layer of protection for business finances. The Federal Deposit Insurance Corporation (FDIC) insures deposits up to $250,000 per depositor, per insured bank, per ownership category.

At BankProv, we go a step further with Depositors Insurance Fund (DIF) coverage, which insures every dollar above the FDIC limit. So if your business keeps $1 million on deposit, the first $250,000 is covered by FDIC and the remaining $750,000 is fully insured by DIF — automatically and at no cost to you.

Even better, DIF coverage is available to all BankProv clients, regardless of where they or their business are located. Whether you’re based in New Hampshire, Massachusetts or anywhere across the U.S., your deposits are fully insured through this unique combination of protection.

If you’re unsure how your deposits are covered or want to break down coverage by account type, the FDIC offers an online calculator to help you estimate your FDIC insurance coverage. It’s a great tool to double-check your coverage and better understand how your funds are protected.

Are there other steps business owners should take to protect their accounts?

Layered security is key. In addition to positive pay and deposit insurance, we recommend:

• Dual control settings for account transactions

• RSA Tokens for online banking access

• Account alerts for unusual or large transactions

• Regular account monitoring by authorized staff