Ann Arbor State Bank isn't just constructing the typical brick-and-glass-box branch on Ann Arbor's south side. It's planning to respond to its unique little corner of Tree Town.
The 7-year-old bank broke ground on the full-service bank branch at 3930 South State St in mid May. That’s at the corner of South State and Ellsworth streets, facing a roundabout. Which means that Ann Arbor State Bank had to custom design the structure so it would have a "flair for adopting to the corner."
"It's designed to fit the site," says Peter Schork, co-founder, president & CEO of
Ann Arbor State Bank. "It fits the site better than a lot of regular branches would."
That required a design that not just accommodates the traffic circle and nearby retention pond, but makes those two features assets to the branch. The 2,800-square-foot structure will employ a staff of six people when its finished in November.
Ann Arbor State Bank launched as a community bank when the Great Recession hit in 2009 and took advantage of the disruption in the market. It is now a $265 million bank that employs 45 people (after hiring eight in the last year) at three branches in Ann Arbor and Jackson. It grew its deposits and loans by 15 percent last year and is track to do so again. About 95 percent of the bank’s business is made up of residential mortgages and small business loans.
"We have had a very good growth year in 2015," Schork says. "That is continuing in 2016."
Source: Peter Schork, co-founder, president & CEO of Ann Arbor State Bank
Writer: Jon Zemke
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