Bank expands footprint
A local bank is re-introducing itself to a major market in the state.
Grand Rapids-based Mercantile Bank of Michigan said today it has opened a 4,000-square-foot commercial loan office in Troy, at 1700 W. Big Beaver Rd., with plans for the location to become a branch.
The new office marks a return to metro Detroit, which hasn’t been home to a Mercantile bank, since the closures of Ann Arbor and Novi locations in 2009.
“The greater Detroit area is a logical extension of Mercantile's current service area, and we are encouraged by the strength of the region's economy and business environment,” Mercantile Bank CEO Robert Kaminski said.
“Starting with our initial team of experienced commercial lenders, we believe we will have the opportunity to grow over time and hire additional staff, as we deploy the same kind of strong, relationship-based banking philosophy that has been successful for us in our other markets.”
Big Beaver location
To lead the new location, Mercantile Bank has hired Violet Gintsis, who has more than 35 years of commercial banking experience in the southeast Michigan market.
“I am delighted to have the opportunity to join the Mercantile team, particularly in light of the company's commitment to relationship banking,” Gintsis said.
Mercantile Bank is leasing the space, which currently houses six employees as it operates as a loan production office.
As the location expands to become a branch, the office will grow to 10 to 14 employees. Kaminski said Mercantile is working to realize those plans “in the near future.”
Mercantile Bank was founded in 1997 and said it's the third-largest "Michigan-domiciled" bank.
Mercantile currently operates 48 banking offices, primarily in western and central Michigan.
It manages about $3 billion in assets and provides services to businesses, individuals and government units.