Ann Arbor State Bank is growing on a number of different fronts, expanding its loan portfolio, adding to its staff and opening new offices. The downtown Ann Arbor-based bank launched in 2009 and has grown to $187 million in assets with $153 million in deposits. It has grown its assets by $29 million in the last year, partly thanks to $20 million in new deposits over that same period. "Our growth is easily filled with deposits," says Peter Schork, president & CEO of Ann Arbor State Bank. "We have no triggers to stop making loans besides loan demand." Ann Arbor State Bank opened a mortgage office in downtown Ann Arbor last year, which now has a staff of 10 people. The bank also opened a loan office in Jackson with a staff of two people. Its commercial loans have grown from $83 million last year to $103 million today. "We have done very well in terms of growth and loan portfolio," Schork says. Ann Arbor State Bank has hired seven people in the last year. It now has a staff of 32 employees and the occasional intern. Source: Peter Schork, president & CEO of Ann Arbor State Bank Writer: Jon Zemke Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.

HistoSonics is getting ready to start clinical trials later this year, which will mark the beginning of the last product development phase for the Ann Arbor-based start-up. The 3.5-year-old firm, a spin-off from the University of Michigan, is developing a medical device that uses tightly focused ultrasound pulses to treat prostate disease in a non-invasive manner with robotic precision. The company's name, HistoSonics, is a combination of histo (meaning tissue) and sonics (meaning sound waves). HistoSonics recently finished its regulatory approval process and institutional board of review approval. It is now prepping to begin its first clinical study, which will take up to one year to complete. "I expect we will have this done in the next month or so," says Christine Gibbons, president & COO of HistoSonics. She adds that the main clinical study after that will take two to three years to complete. The company is currently looking to add two clinical research managers to its team of 10 employees and one intern. Making that possible is the $11 million in venture capital HistoSonices scored in 2009. It is in the process of raising a Series B round of seed capital. Gibbons hopes to land between $12 million and $15 million in the Series B. Source: Christine Gibbons, president & COO of HistoSonics Writer: Jon Zemke Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.

No longer is the carryout pizza counter just a blank place to stare at empty boxes and count down the minutes. Now, picking up the pizza is an event an itself. Excerpt: "With bright colors, a beverage cooler and staff showing off its pizza-tossing skills, Domino's hopes its customers will think they're in an old-time pizzeria. But they'll probably be taking their dinner home. Dubbed "pizza theater" by the Ann-Arbor, Mich.-based fast-food chain, the new store design reflects a growing carryout business and a newfound pride in the primary product... Last summer, Domino's said it was dropping "pizza" from its name and planned to redesign its stores, making the pizza-making process more transparent and its stores more comfortable for consumers stopping by to pick up their dinner rather than dialing the store once they get home." More here. 

U-M has just gotten its inaugural class of entrepreneurs out the door, evidence that there is a defined route to being your own boss. Excerpt: "The University of Michigan is ideally positioned to deliver such a program," said Ross School Dean Alison Davis-Blake. "Our top-ranked business and engineering schools have a long history of successful collaborative ventures. This new joint degree program gives students access to real-time technology and resources to turn a business idea into a market-ready venture within 12 months."  ...Many of the students have undergraduate degrees in science, technology or engineering and want to bring about positive social change. For example, one student wants to improve infant mortality rates through new uses of warming technology." More here.

The Thompson Block commercial and loft space in Ypsilanti's Depot Town now has a Twitter handle. Get the latest word here.

Source: Rob D'Oria, Bits and Pizzas Writer: Natalie Burg

Arbor Brewing Co spent much of 2012 setting the stage for some significant growth both at home and abroad. This is the year the Ann Arbor/Ypsilanti-based craft brewery begins to reap some of those gains. The Ann Arbor-based company completed a $1 million eco-friendly expansion to its sister brewery, Corner Brewery in Ypsilanti, last year. That gave the firm the room to double its capacity. Last year it sold 3,500 barrels of beer and is on pace to sell 5,000 barrels this year. Next year's target is 7,000 barrels. Helping drive that growing demand is sales of its new award-winning IPA (Buzz Saw American IPA) and its takeoff of its strawberry blonde beer, Bollywood Blonde. Arbor Brewing Co is also doing a quarterly release of its Imperial Series, which includes a double IPA and an imperial pilsner. The brewery is also increasing production of its four-packs of barrel-aged sour beers. "Some of our brands are really starting to take off," says Rene Greff, who co-founded Arbor Brewing Co with her husband, Matt Greff, in 1995. Arbor Brewing Co's new India franchise is also gaining traction. The firm recently decided to open a franchise in Bangalore to fill the void in the practically non-existent craft brewing scene in India. After a year of trying to get the brewery off the ground, it is now up and running and gaining speed. "It's doing fantastic," Matt Greff says. "We started serving beers in February and it's blowing away our expectations of sales and beers sold. It's absolutely nuts." Arbor Brewing Co currently employs about 50 people in India and expects to begin searching for an American master brewer to work there full-time later this year. It is also exploring the idea of expanding to a few more locations in India in the next few years. The company has a staff of 70 full-time employees and two interns between its downtown Ann Arbor brewpub and the Corner Brewery. It has hired five people between those two breweries over the last year, both for its kitchens and the breweries. Source: Matt & Rene Greff, co-owners of Arbor Brewing Co and Corner Brewery Writer: Jon Zemke Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.