Huron Valley Financial makes third acquisition in the last year

Wednesday, February 16, 2011 | Source: Concentrate

If you were wondering about that noise, don't worry, it's just Huron Valley Financial acquiring again.

The Ann Arbor-based mortgage banking firm recently acquired Professional Mortgage Associates in Clawson, its third acquisition in the last year; more such deals are expected. Its revenue is up 76 percent in the last year and net income is up 112 percent.

"We think we'll see some additional organic growth, too," says Eric Bradley, president and CEO of Huron Valley Financial.

The full-service mortgage banking firm specializes in every area of mortgage lending, such as construction loans or refinancing. Its loan volume was up 30 percent in 2010 and 140 percent since the financial crisis hit in 2008. It has $10.5 million in total assets.

Huron Valley Financial employs 51 people spread in offices in Ann Arbor, Birmingham, Brighton, Clarkston, and Fenton. Of those employees, 30 are based in Ann Arbor, where five more employees were added in 2010. The company got its start when Bradley and his partner, both local mortgage brokers for another firm, decided they could give the same level of service or better to their clients on their own.

"That was July 1997 and we have been growing ever since then," Bradley says.

Source: Eric Bradley, president and CEO of Huron Valley Financial
Writer: Jon Zemke

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