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Michigan Heritage Bancorp Inc. (MHBC.OB) |
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CEOCFO Current
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This is a printer friendly page! Michigan Heritage Bancorp is meeting
the needs of customers as a community bank Michigan Heritage Bank (MHB) (the Bank), a
state-chartered commercial bank established in March of 1997. Michigan Heritage Bank
provides a focused core of banking services, primarily for small to medium sized
businesses and individuals. The Bank’s lending services are in commercial real
estate, equipment leasing and mortgage lending. The mortgage department offers a wide
range of products including variable and fixed rate mortgage loans, home equity lines of
credit and other forms of consumer lending. For commercial customers who seek additional
deposit services the Bank offers the convenience of our “Rapid Courier Service”.
This service offers prearranged pickup for all your business banking transactions. The
Bank’s commercial checking accounts also offer “Sweep” capabilities with
low or no fees. “In 1997, we began as a community bank at a
time when other banks were merging and becoming larger or actually going away because the
big banks were gobbling them up.” Offers Mr. Anthony S.
Albanese, President of Michigan Heritage Bancorp “We
felt there was a need for a smaller community bank to fill the void the larger banks left.
We have actually done that over the last six-and-a-half years that we have been in
business. Our IPO along with a few other local banks that went public during that time
period have created a good relationship with various customers who are not being serviced
properly by the larger out-of-state banks. At this point, I think we have done a good job
in providing that service.” When asked what business customers are getting
from Michigan Heritage that they aren’t from other community banks, Mr. Albanese responded, “When you are
looking at the other aspects of dealing with a larger bank, you rarely have the chance to
deal with the decision makers. You are dealing with a loan officer or in some cases, a
junior loan officer who has to go to a committee to get approval for any transaction size
and in many cases, to locations that are not part of your local communities. There are a
number of layers between you and the decision maker, but that is not true of the community
banks. We have the ability to make decisions quickly; it could be a yes or a no, but it is
usually done quickly. Often times the President or CEO of the bank is meeting with the
customer if not at his or her own establishment, then here in our bank building. There is
an element of the business man out there who is interested in getting to the decision
makers and doesn’t want to work through a loan officer.” On why people
come to Michigan Heritage for residential mortgages, Mr. Albanese
says, “People are going to Michigan Heritage because of
referrals; we tend to have mortgage loan officers that deal with customers they have dealt
with for years and they consider themselves to be advisors to these customers. When the
customer that they dealt with in the past has a seven-and-a-half percent mortgage, and
rates begin to decline, if it makes sense for that customer, they will call them back and
attempt to give them a better rate.” |
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