In 2007, Bank of Michigan established itself as a major presence in southeast Michigan and was named by Crain’s Detroit Business as the fastest growing bank in the region. We put the proper staffing and safeguards in place to serve our growing niche of money service businesses. This has made Bank of Michigan a place where entrepreneurs want to take their business.
Further activity and interest in the bank was generated by hosting quarterly networking sessions on various topics. For example, attorney and bank board member Randall Denha shared his professional knowledge on living trusts with a group of the bank’s high net-worth customers. These “roundtable” events were well attended and very popular.
| Named by Crain’s Detroit Business as the fastest growing bank in the region… |
Board members Burt Kassab and Neil Desai helped host a group of their respective clients from the medical field at a local country club to network and introduce them to Bank of Michigan and some of our team members. This event has resulted in several large relationships.
In the fall, Bank of Michigan sponsored a reception for CPAs where a legal expert presented the topic “LLCs vs. S Corporations on Formation.” Three board members who are CPAs — Desai, Pat Gregory and Al Yaldo — were instrumental to the success of the event.
This past year, we added two customer service representatives to continue our emphasis on personal banking. We also significantly expanded our free courier program to take our friendly service directly to the customer.
Bank of Michigan continued its proud tradition of community involvement. We participated in the American Cancer Society’s Relay for Life by raising money and sponsoring a booth. I had the privilege of co-hosting Covenant House of Michigan’s 10th anniversary celebration, which raised more than $150,000 to help take care of homeless youth.
In September, Bank of Michigan and three other Capitol Bancorp affiliate banks co-sponsored a real estate conference with more than 200 attendees. Capitol Bancorp Chairman & CEO Joseph D. Reid was the keynote speaker.
We look forward to doing much more business at the bank and work in the community as we further improve the bank’s performance.
— Michael G. Sarafa, President & CEO