Commercial Banking
The cornerstone to the success of our commercial lending group is the consistent drive to achieve the highest level of customer satisfaction by providing expertise, extraordinary service and fast loan approvals. Our Commercial Loan Officers take the time to build lasting relationships with their customers. This involves personally meeting with business owners and commercial developers at their place of business or project site in order to learn about the business venture and gather the necessary information to process the loan request. Our customers appreciate this approach, because it affords them the opportunity to discuss various issues at length, on a one-on-one basis.
As a result of the commercial lending group's commitment to customer service, the Company has experienced significant growth in the volume of commercial loans. In 1998, the commercial loan closings grew 50% to $263 million.
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Dwight G. Reynolds, Michigan District Director, Small Business Administration and Barry J. Eckhold, Vice Chairman, President and Chief Executive Officer, Republic Bank |
#1 SBA Lender in the State of Michigan
Republic Bancorp's banking subsidiary, Republic Bank, approved more small-business loans than any other SBA lender in Michigan and, for the fifth year in a row, was recognized by the Small Business Administration as the top provider of SBA loans to Michigan businesses. Republic Bank is also designated as a Preferred Lender by the Small Business Administration in the State of Michigan. The Preferred Lender status allows Republic Bank to provide direct approval on small business loans, thus enabling our Commercial Loan Officers to respond quickly to small-business owners' requests for financing.
"Republic Bank has been the top SBA loan producer five years in a row," said Dwight G. Reynolds, Michigan District Director of the Small Business Administration. "Their knowledge and experience in the SBA loan program has insured top quality loan packages. We're excited about the opportunities Republic provides small businesses and are impressed with their commitment to the small business community."
As a result of the efforts and accomplishments of our Commercial Loan Officers, the volume of SBA loans closed in 1998 increased 37% to $39 million.
Retail Banking
Deposit products, home equity loans and personal banking services are delivered to customers through 40 retail bank branches in Michigan, Ohio and Indiana. As a result of the Company merging Republic Savings Bank with Republic Bank, all of our Michigan and Ohio customers are now on the same computer system and ATM network. This allows our customers the convenience to visit any of our branches or ATMs in Michigan and Ohio.
We are committed to providing a pleasant environment in which our customers feel comfortable handling their banking needs. Therefore, each branch is designed to allow individuals to conduct their banking transactions with their own Personal Banker.
Our Personal Bankers are knowledgeable people who are trained to manage retail banking transactions and focus on providing one-on-one service to customers. They greet each customer with a smile and a willingness to help. Every customer of Republic is assigned a Personal Banker they can count on for assistance during each and every visit. Our Personal Bankers help our customers free of charge, unlike other financial institutions that may assess fees on customers for providing personal service. Our customers know by the positive attitudes of our Personal Bankers that we care about treating them well and going the extra mile to meet their needs.
During 1998, the retail banking group grew total deposits to nearly $1.4 billion, an increase of 17%.
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