United Bank has Less Lending

Speaking of the market slowdown and banks, we’re hearing a little more about that nasty, inevitable word that comes with a downturn: layoffs.

Craig Young, CEO of United Holding Co., the holding company to United Bank of Springdale, said the thrift laid off four employees recently and has decided to not fill a few positions that had previously been open. The positions were related to the bank’s lending team, he said.

In 2005, the Business Journal estimated there were a total of 2,200 bank employees in Benton and Washington counties, a number that surely climbed for another year. We’ll be interested to see how the industry fares at the end of 2008.

On the up side, Young said the United-Built Homes division of UBH had a great year in 2007 and is looking to beat that in 2008. United-Built Homes, diversified in 17 markets, builds pre-designed homes and supplies financing.

Young said the company has seen the decision process lengthen between the point of contact and final commitment, but that people are still buying.