Bank expanding into market
A community bank based on the state’s east side is moving into the “robust” West Michigan market.
Farmington Hills-based Level One Bank said yesterday that it is scheduled to open a branch in Grand Rapids, at 2355 Burton St. SE, in December.
The bank will officially acquire the lease of the 7,000-square-foot building, the former site of a PNC Bank, tomorrow.
The branch will be Level One’s first outside of metro Detroit, where it operates 12 locations.
West Michigan expansion
Level One President and CEO Patrick Fehring cited the city’s strong and quickly growing economy, low unemployment rate and consistent recognition as one of the best places to live as factors for the bank’s move into the market.
“We are incredibly attracted to the robust market that Grand Rapids offers for a community bank, and we look forward to serving this city well, with an eye toward future expansion here,” Fehring said.
In the next several months, Level One will begin the process of remodeling the building to suit the needs of a full-service bank.
Level One will hire 12 to 13 employees to work out of the new space, looking to fill its need for commercial lenders, mortgage loan originators, business development officers and other branch personnel, including a banking center manager.
Level One Bank has been recognized as the U.S. Small Business Administration’s Community Lender of the Year and as one of Inc.’s 5,000 fastest-growing private companies in America.
The bank provides personal services and a range of services for commercial customers, including lines of credit, term loans, leases, commercial mortgages, SBA loans and more.
It has about $1 billion in assets.