Interview: Rita Lowman

loans in the Tampa Bay region beyond $5 million, with four businesses having applied for the maximum $10 million. In aggregate, there are more than 80,000 active PPP loans in the region, totaling more than $6.6 billion. Florida as a whole generated close to 404,000 loans worth more than $31 billion.

The PPP loan forgiveness process stipulates that loans can be forgiven if it can be proven that a certain percentage was indeed spent on what those resources were meant for: payroll and other employee-related costs.

The four companies that went for the maximum allowable $10 million loan were Tampa-based nonprofit Lutheran Services Florida, which provides assistance to children, families, the elderly, refugees and natural disasters victims; Tampa-based vocational rehabilitation service company TrueCore Behavioral ( ) Rita Lowman

President Pilot Bank

How successful was Pilot Bank in administering PPP loans?

We helped over 800 clients. We wanted to assist as many in the community as we possibly could, and this helped us grow relationships. However, all of the banks did a great job on PPP. We had weekly calls with the American Bankers Association, Florida Bankers Association and various regulatory agencies updating all of our banks on what was happening regarding the pandemic and PPP. Communication was a key to the success of the banking industry and administering PPP loans.

How did your aircraft financing division perform in 2020?

We finance owner-owned, owner-flown planes only, so we’re not doing corporate jets or anything along those lines. Our aircraft division did a record year in 2020. It’s a great portfolio and we will continue to work with these clients. An aircraft is not a necessity for someone but they enjoy it. It’s part of their lifestyle and they maintain their finances to support that lifestyle.

How is Pilot Bank helping to improve financial literacy?

We visit schools and provide financial literacy lessons. We will continue to do that. It’s not only elementary and high school that we are assisting though; we’re also teaching adults. There are a number of people who don’t know how to write a check. Our team also serves as mentors. There are many ways to be successful in society but you need to understand the financial component of it.

What legislation are you hoping to see?

A big concern to me is that credit unions, the 10 to 15 largest ones, do not pay taxes. They’re not helping to pay for the roads, military or our education system. A family of four pays more in taxes than they do. As well, we’re hoping for simplifications regarding the Bank Secrecy Act and anti-money laundering legislation.