125 YEARS
Building Brighter Futures
2023 ANNUAL REPORT
Dear
Shareholders:
On behalf of everyone at Fentura Financial, Inc. (“Fentura”
or the “Company”), I am proud to share the operating and
financial progress we made during 2023. Throughout the
year, we celebrated our Bank’s 125th anniversary, which
allowed us to reflect on our rich history, unwavering
commitment to our customers, and the countless lives we
have touched over the years. Fentura’s journey has been
one of resilience, innovation, and above all, a steadfast
dedication to serving our Michigan communities. As
we look to the future, we remain focused on nurturing
lasting relationships with our customers, providing our
employees with an environment to thrive and develop,
and creating lasting value for our shareholders.
Fentura reported another solid year of growth, as we
ended 2023 with record total assets of $1.74 billion
and record total deposits of $1.39 billion. Throughout
the year we experienced higher interest expense as
the rapid increase in interest rates had an impact on
our cost of funds and reduced net interest income.
Despite these trends, 2023 was another good year
of profitability as we benefited from record levels
of interest income and excellent asset quality.
to pursue actions and strategies that we believe
will benefit all shareholders over the long term.
Supporting this commitment, as well as Fentura’s
consistent financial performance, our Board increased
the Company’s dividend by 11%, representing the
sixth consecutive year we have increased our annual
dividend. In January 2024, we increased our regular
quarterly dividend by an additional 10% to $0.11 per
share. Since 2017, Fentura’s annual dividend has
increased from $0.20 to $0.40 for 2023, representing
a compound annual growth rate of 12%.
In September 2023, Fentura celebrated its 125th year
anniversary of The State Bank. The Bank has been a
part of the Fenton community since 1898, when five
prominent citizens organized the Commercial Savings
Bank of Fenton. They sought to serve the needs of
their neighbors and friends, thereby establishing a
foundation of trust, a relationship that still exists today.
We are proud of our heritage of providing trusted
financial services to our local communities and
look forward to remaining an independent, and high-
performing community bank for many years to come.
For the year ended December 31, 2023, net income was
$14.6 million, or $3.30 per diluted share, compared to
$14.9 million, or $3.38 per diluted share in 2022. In fact,
net income and earnings per diluted share would have
increased year-over-year had it not been for $523,000
in one-time legal and professional fees associated with
2023’s annual meeting and proxy contest. Strong earnings
and asset quality combined with limited impacts from
accumulated other comprehensive income produced a
10% year-over-year increase in total shareholders’ equity,
which was a record $138.7 million at December 31, 2023.
Fentura’s stock increased 24.8% from January 1, 2023
to December 31, 2023, reflecting our solid financial
and operating results in 2023. Our stock’s performance
in 2023 greatly outperformed several well followed
bank indices including the Nasdaq Bank Index which
was down 6.7% and the KBW Regional Bank Index,
which was down 4.0% in 2023. In addition, according
to Bloomberg, Fentura was the 31st best performing
bank stock in the U.S. and the 2nd best performing
bank stock in the state of Michigan. We are proud of this
performance, especially during a difficult year for banks.
Our Board is focused on creating sustainable value
for Fentura’s shareholders and the Board continues
It is with deep sadness that we remember our long-time
director, William H. Dery (Bill), M.D who passed away in
2023. Bill joined the Board in 2009 and was not only a
respected member of our Board until his passing, but
also a dear friend, invaluable mentor to many of us
at Fentura, and a pillar in the community. Bill’s father,
grandfather, and great grandfather all previously served
as directors of the Bank, and their respective contributions
can be found throughout Fentura Financial and The
State Bank yet today. We are honored to dedicate this
annual report to Bill with a tribute found on page 9.
It takes the contribution of many to truly make a
meaningful impact on our community and achieve
our shared vision. The Company understands the
importance of strong corporate governance to ensure
we are meeting our goals and optimizing value for our
shareholders. In 2023, we listened to our shareholders
and expanded the number of directors serving on our
Board. After engaging with Robert A. Herdoiza, the Board
nominated him to serve as a director, recognizing that
his financial expertise, business qualifications, and prior
roles as a CFA and a CFO would benefit the Company. We
appreciate his early contributions to the Company and
look forward to his continued participation on the Board.
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Mr. Herdoiza’s appointment to the Board represents
the actions we have taken over the past several years,
refreshing our Board with experienced individuals
that reflect the diverse makeup and values of our local
communities. As a result, of the 11 current board
members, 45% have been appointed since 2021. As you
can see, we have made significant progress over the
past three years enhancing our Board by attracting
proven business, community, and financial leaders to
Fentura. I look forward to their continued contributions.
We are proud of
our heritage of
providing trusted
financial services
to our local
communities.
Developing, attracting, and supporting our team
members remains crucial to our success. Beginning
January 1, 2024, Thomas Hufton (Tom) replaced Dennis
Leyder as the Chief Wealth Management Officer. As part
of our established succession plan, Tom was identified
several years ago as a natural successor ensuring a
seamless transition. Tom is quickly contributing to our
expanding Wealth Management business, and I look
forward to his leadership in his new role. In addition,
we continue to focus on providing our customers
with leading financial advice, services, and products
that are tailored to their individual needs. During
the year we implemented personal wire transfers and
enhanced the security features for our business and
commercial customers including user management
and authentication tools. On the Wealth Management
side of our business, we transitioned the advisory
platform to Ameriprise and added personnel to drive
additional growth within this line of business.
As we look to 2024, we expect another fluid operating
environment primarily due to continued uncertainty
around Federal Reserve interest rate and monetary
policies and the impacts these may have on the greater
economy and our Bank. Despite these concerns, we
are focused on supporting our communities that
need value added and local financial partners like
Fentura. We enter 2024 with a highly experienced
leadership team, strong market share in compelling
markets, and excellent asset quality. In fact, we
had net recoveries in 2023 and ended the year with
nonperforming assets to total assets of just 0.35%.
Our performance in 2023 demonstrates our continued
commitment to supporting our communities, delivering
consistent operating performance, and maintaining
excellent asset quality. We firmly believe that by
prioritizing the well-being of the customers and
employees we serve and delivering sustainable value to
our shareholders, we can continue to thrive and make
a positive difference in the lives of all stakeholders.
We are excited about the opportunities that lie before
us and remain dedicated to upholding our community
banking values to build a brighter future for all.
As always, thank you for your continued support.
Warmly,
Ronald Justice
President and CEO
Fentura Financial, Inc.
and The State Bank
1930
1931
1940
1950
1960
Commercial Savings Bank and
Fenton State Savings Bank
merge to become The State
Savings Bank of Fenton
1954
Linden Branch
opens as the first
branch office
1961
Bank assets reach
$10 million
1897
1910
1920
1897
Fenton served by two
private banks: HB
Latourette Bank &
EB Wightman
Exchange Bank
2
1898
HB Latourette founded
the chartered bank,
Commercial Savings Bank,
from HB Latourette Bank
1908
Frederick H Hitchcock
instrumental in the formation
of the chartered bank, Fenton
State Savings Bank, from
Wightman Exchange Bank
1931
$1.478 million
at merger
of the two
Fenton banks
1898
Bank assets
of $25,000
1908
Bank assets
of $72,841
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BANK
HISTORY
GROWTH OF
BANK
In 2023, The State Bank celebrated 125 years of serving
mid-Michigan. From the Great Depression to the Great Recession
and beyond, The State Bank has held tight to its community
values. Through resilience, integrity and innovation, the bank has
helped businesses and families meet their needs and build brighter
futures. In a world where banking collapses riddle the headlines,
The State Bank’s longevity has made it a welcome exception.
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1966
Drive thru
services
open
1965
Bank assets
reach
$16 million
1971
Bank assets
reach
$28.7 million
1970
1980
1990
2000
2010
1987-88
Holly Branch opens;
Name changes to The
State Bank & Holding
company, Fentura
Financial, Inc. is formed
2006-08
Grand Blanc
North and
Brighton
Branches open
2020
2016-19
2023
Acquisition of Community
State Bank based in St. Charles;
Farmington Hills Branch opens
1995-97
Launch of internet and
telephone banking;
VGs Branch opens
2011
2020
Form Change 4 Kids;
Mobile Banking
services begin
The State Bank offers
Covid Relief programs for
families and businesses
3
1977
Open current
Main Office;
Install first ATM
1981
Bank assets
reach
$80 million
1984
Bank assets
reach
$100 million
1974
Bank assets
reach
$39.6 million
2001-02
Grand Blanc South and
Silver Lake Branches
open; Launch
partnership with
Food Bank
of Eastern Michigan
2021
Acquisition of
Farmers Bank of
Munith
2022
Bay City LPO opens;
The State Bank is
the SBA Community
Lender of the Year
2019
Bank assets
surpass
$1 billion
2004
Bank assets
reach
$585 million
2023
Downtown Flint Branch opens
in the historic Ferris Wheel Building;
The State Bank
Celebrates 125 Years!
WHAT MAKES
POSSIBLE?
4
4
For 125 years, The State Bank and our communities have come
together to Build a Better State. There have been ups and downs,
challenges, and great accomplishments. Through it all, we continue
to thrive. The pieces of the bank’s history are a compilation of
individual efforts woven together to form something bigger.
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Our Value of
Family and
Community
To help our customers reach their better state, we
launched a partnership with GreenPath to provide
comprehensive financial counseling. Our ongoing
commitment to Financial Wellness resulted in 1,700
hours of training in 2023 to support 31 organizations.
We focused on important topics such as savings
and budgeting, understanding and maintaining
credit, and assessing homeowner readiness.
Our Passion for
Small Business
The State Bank has been recognized amongst financial
institutions who provide capital to all Michigan small
businesses. For the fourth year in a row, The State Bank
was ranked as the #1 Michigan-Based Community
Bank Small Business Administration lender.
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Our Focus on
Growth
We’ve seen exciting growth since our start in 1898
with a humble $25,000 in assets. Since then, we have
grown to $1.74 billion in total assets with 21 locations
across eight counties. As recently as 2022, we opened a
new loan production office in Bay City, which is our first
location in Bay County. Along with celebrating our 125th
anniversary in 2023, we also celebrated the opening of
our Flint location in the historic Ferris Wheel Building.
Our Commitment
to Technology
We have launched and continue to advance our best
in class online and mobile banking tools that make
it easier than ever for our customers to visualize
and interact with their money including: Account
Aggregation, Credit Monitoring and Simulation,
Digital Receipt Storage, Money Management,
Smart Watch and Voice Banking, and more.
125
Our Commitment
to Leadership Fentura Financial, Inc. is led by an experienced Board
of Directors with expertise across various industries.
Mark Bole
Retired - Head of V2X &
Battery Solutions, GM Energy
General Motors
Bob Herdoiza
Partner
Randy Hicks, M.D., MBA
Owner & CEO
Kristen Holt
President and CEO
Stonebridge Financial Group
Regional Medical Imaging, P.C.
GreenPath
Financial Wellness
Ronald Justice
President and CEO
Fentura Financial, Inc.
and The State Bank
Steven Krause
Owner & President
Best Storage, Inc.
Thomas McKenney
Retired - Owner/
President & Attorney
McKenney & McKenney
Kelly Myers
Managing Member
Myers & Myers, PLLC.
Brian Petty
Owner & President
Ronald Rybar
President
Debra Williams
President & CEO
Fenton Glass Service, Inc.
Provider Payment Consultants
Williams Collaborative, LLC.
Founder and Senior Advisor
The Rybar Group
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A Tribute to
William H. Dery, M.D.
December 10, 1951 - August 1, 2023
William H. Dery, M.D. was appointed as a Director of the The State
Bank and Fentura Financial in April 2009 and served passionately
until his passing on August 1, 2023. Dr. Dery’s father, Robert Dery,
grandfather, HW Hitchcock, and great grandfather, Frederick
Hitchcock, all previously served as directors of the Bank. As the great-
7
grandson-in-law of Frederick Hitchcock who formed Fenton State
Bank, which later became The State Bank, Dr. Dery served our bank
and community with passion, pride, and commitment.
Dr. Dery was admired by many in the community, the banking
industry, and of course the medical community where he served
patients as a family practice physician for 40 years. We honor Dr. Dery
for his commitment to The State Bank. He will truly be missed, and
his legacy will always remain a testament to the success that can be
achieved through resilience, integrity, and innovation.
Growing
Core Deposits
4,925
Deposit Accounts
Opened in 2023
Growing
Community
61.3MM
Increase in
Total Deposits
77.2 MM
in Kasasa
Accounts
561,546k
In 2023 community
donations and
sponsorships
40,875k
fundraising effort in 2023
through the Change
4 Kids Program.
Since the program’s inception,
$348,443 has been donated.
73,136k
donated to the Food
Bank of Eastern
Michigan in 2023
Growing
Innovation
10.1k
Average Monthly
ITM Transactions
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Growing
Local Business
1#
Michigan-Based
Community Bank
SBA Lender* for Four
Years in a Row
*Based on number and dollar
amount of SBA loans approved
during the fiscal years
ending 9/30/20, 9/30/21,
9/30/22, and 9/30/23.
53.8MM
New Small Business
Administration Loans
Title Gov’t Guaranteed/
Supported Loans
137.8MM
New
Commercial
Loans
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Public Fund
Management
Growing
Wealth
9
38.1MM
Increase in Public Funds
32.4MM
Increase in Wealth
Management & Trust
Services Assets Under
Management in 2023
Growing
Home Ownership
336 94.7MM
New Mortgage
and Refinance Loans
New Mortgage
and Refinance Loans
2023
Highlights
Dollars in Thousands Except Per Share Amounts
Balance Sheet and Asset Quality Ratios
12/31/23
12/31/22
12/31/21
12/31/20
12/31/19
Net Loans to Total Deposits
104.58%
106.77%
88.71%
98.48%
100.19%
ACL to Gross Loans
Net Loan Charge-offs to Gross Loans
Nonperforming Loans to Gross Loans
1.04%
(0.04%)
0.38%
0.91%
0.05%
0.16%
0.95%
0.02%
0.18%
1.02%
0.05%
0.75%
0.67%
0.00%
0.17%
Per Share Data
Earnings per Share
Book Value per Share
Tangible Book Value per Share
Market Price per Share
Dividends per Share
12/31/23
12/31/22
12/31/21
12/31/20
12/31/19
$3.30
$31.02
$28.92
$27.20
$0.40
$3.38
$28.40
$26.22
$22.20
$0.36
$3.60
$3.31
$2.49
$27.68
$24.68
$21.75
$25.43
$23.88
$20.87
$28.28
$22.00
$25.23
$0.32
$0.30
$0.28
Total 1 Year Return to Shareholders (%)
24.32%
-20.23%
30.00%
-11.61%
21.48%
Common Shares Outstanding
4,470,871
4,439,725
4,496,701
4,694,275
4,664,369
Average Common Shares Outstanding
4,460,490
4,448,003
4,624,243
4,684,006
4,653,872
Performance Ratios
12/31/23
12/31/22
12/31/21
12/31/20
12/31/19
Return on Average Assets
0.85%
0.98%
1.26%
1.29%
1.20%
Return on Average Shareholders' Equity
11.14%
12.30%
13.52%
14.05%
12.02%
Net Interest Margin Yield (FTE)
3.17%
3.67%
3.58%
3.50%
3.83%
Efficiency Ratio
Capital Ratios
70.10%
65.11%
64.65%
58.10%
63.20%
12/31/23
12/31/22
12/31/21
12/31/20
12/31/19
Total Capital to Risk Weighted Assets
Tier 1 Capital to Risk Weighted Assets
CET1 Capital to Risk Weighted Assets
Tier 1 Capital to Average Assets
11.91%
10.82%
9.83%
8.77%
10.87%
9.95%
8.96%
8.58%
12.22%
11.30%
10.07%
9.13%
15.14%
13.93%
12.38%
9.80%
14.03%
13.33%
11.64%
11.20%
10
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CONDENSED CONSOLIDATED BALANCE SHEETS
Assets
Cash and Cash Equivalents
Total Securities
Loans Held for Sale
Gross Loans
12/31/23
12/31/22
12/31/21
12/31/20
12/31/19
$90,661
107,615
747
$57,844
125,049
493
$ 83,446
$46,757
$46,803
164,942
6,783
76,111
27,306
61,621
19,491
1,473,471
1,436,166
1,100,092
1,066,562
870,555
Less Allowance for Credit Losses
15,400
13,000
10,500
10,900
5,813
Net Loans
All Other Assets
Total Assets
1,458,071
1,423,166
1,089,592
1,055,662
864,742
81,858
82,311
73,022
45,610
42,102
$1,738,952
$1,688,863
$1,417,785
$1,251,446
$1,034,759
Liabilities and Shareholders’ Equity
Total Deposits
Total Borrowed Funds
12/31/23
12/31/22
12/31/21
12/31/20
12/31/19
$1,394,182
$1,332,883
$1,228,298
$1,071,976
$ 863,102
Accrued Interest and Other Liabilities
7,568
7,543
198,500
222,350
50,000
15,032
49,000
14,602
61,500
8,713
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Total Liabilities
1,600,250
1,562,776
1,293,330
1,135,578
933,315
Total Shareholders' Equity
138,702
126,087
124,455
115,868
101,444
Total Liabilities and Shareholders' Equity
$1,738,952
$1,688,863
$1,417,785
$1,251,446
$1,034,759
CONDENSED CONSOLIDATED STATEMENTS OF INCOME FOR THE YEARS ENDED
Interest and Dividend Income
Loans, Including Fees
Investments
Total Interest and Dividend Income
Total Interest Expense
Net Interest Income
Credit Loss Expense (Reversal)
Net Interest Income,
After Credit Loss Expense (Reversal)
Total Non-Interest Income
Total Non-Interest Expenses
Income Before Federal Income Taxes
Federal Income Taxes
Net Income
12/31/23
12/31/22
12/31/21
12/31/20
12/31/19
$75,382
$56,610
$45,129
$44,238
$41,102
4,299
79,681
28,087
51,594
(58)
51,652
9,271
42,668
18,255
3,626
2,610
59,220
6,767
52,453
3,105
49,348
9,880
40,585
18,643
3,710
1,781
46,910
2,736
44,174
(180)
1,741
45,979
5,924
40,055
5,634
2,439
43,541
8,627
34,914
1,335
44,354
34,421
33,579
14,080
37,663
20,771
4,192
19,640
34,684
19,377
3,913
8,163
27,223
14,519
2,941
$14,629
$14,933
$ 16,579
$15,464
$11,578
Market Price
Per Share
$25.23
$28.28
$27.20
$22.00
$22.20
2019
2020
2021
2022
2023
Balance
Sheet
Gross Loans
Total Deposits
Total Assets
,
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3
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2019
2020
2021
2022
2023
Return on
Average Assets
1.29%
1.26%
1.20%
0.98%
0.85%
2019
2020
2021
2022
2023
Dollars in Thousands Except Per Share Amounts
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Earnings
Per Share
$2.49
$3.60
$3.38
$3.31
$3.30
2019
2020
2021
2022
2023
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Efficiency
Ratio
63.20%
64.65%
65.11%
58.10%
70.10%
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2019
2020
2021
2022
2023
Net
Income
$16,579
$15,464
$14,933
$14,629
$11,578
2019
2020
2021
2022
2023
We Believe in
Purposeful
Actions to
Create Better
Communities
We are actively engaged in developing,
strengthening, and energizing the
communities that we live in.
Throughout the year, The State Bank participates
in numerous events and programs that support
local businesses, schools, and charities. Both the
Food Bank of Eastern Michigan and our very own
Change 4 Kids program are two key initiatives to help
our community members find their better state.
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Change 4 Kids
The Change 4 Kids program began responding to the
need to assist low and moderate-income families,
meeting basic physical needs ranging from toothpaste
and deodorant to clothing and shoes. Change 4
Kids also provides educational supplies needed
to be a successful student, such as pencils, paper,
markers, binders, backpacks, and other necessities.
Since its inception in 2011, Change for Kids has
donated over $348,443 to our local school districts.
Food Bank of Eastern Michigan
Over a span of 20 years, The State Bank has raised
a total of $478,345.33 for the Food Bank of Eastern
Michigan (FBEM). That contribution is equivalent to
over 2.5 million meals provided to the 22 counties
served by the Food Bank. Not only does The State Bank
contribute donations, but many employees have given
hours of volunteer time to support the Food Bank.
We Believe in
Striving to
Be the Best
We Believe in
Community
Banking
We Believe in
Serving Small
Businesses
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The State Bank was honored this year with several
Best Of Awards. The Tri-County Times, serving
Fenton, Linden, and Holly awarded The State
Bank with Best Bank, Best Loans, Best Mortgage
Lender, and Favorite Financial Planning honors.
Fentura Financial, Inc, announced that once again it
ranked in the American Banker Magazine’s “Top 200
Community Banks” list, as one of the top performing
community banks in the United States. The banks were
ranked on three-year return on average equity between
2020 and 2022. (Source: Capital Performance Group.)
Fentura Financial, Inc. ranked as number 88 out of 200.
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For the fourth year in a row, The State Bank was
ranked as the #1 Michigan-Based Community
Bank Small Business Administration (SBA) Lender
based upon the number of approved loans for the
SBA fiscal years ending September 30, 2020 - 2023.
Our expertise and commitment to small business
relationships has led to our continued success.
Celebrating 125
Years:
Community,
Trust, and
Enduring
Relationships
Trust in The
State Bank’s
services has
laid a solid
foundation for
all our future
plans.
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At The State Bank, we extend our
deepest gratitude to the customers
who have been the heartbeat of
our existence for 125 years.
The loyalty of our customers and community
has transformed this bank from a financial
institution into a place for dreams, aspirations,
and life’s most treasured milestones.
In over 20 years of working with The State Bank
Trust and Wealth Management Departments, we
have tremendous trust and respect for that team
that has been developed, nurtured and grown.
Dennis, Sheryl and especially Tom have gone out of
their way, managing and growing our accounts. From
the personal and prompt service in response to calls
and emails, to the birthday and holiday cards and
gifts, the courteous service is truly appreciated.
They, The State Bank Wealth Management Team,
care and have brought a wealth of knowledge
and expertise to both us and our portfolio.
Pat and Jane Sullivan
Orleans, MI
I am thrilled to share my positive experience
as a returning business client. The team’s
keen understanding of our business needs,
coupled with a personalized and responsive
approach, has truly set the bank apart.
The flexibility demonstrated in meeting our
unique requirements and the ability to swiftly get
things done have been key factors in our ongoing
satisfaction. The commitment to building lasting
relationships is evident and greatly appreciated.
Likewise, the bank’s ability to assist me
with top notch mortgage products on the
personal side has been invaluable.
Greg Walker
Walker Healthforce | Bloomfield Hills, MI
While The State Bank has grown to have several
locations over the years, their commitment to
“hometown” service has remained top notch! We,
being a local business ourselves, are pleased to have
our bank accounts local as well. From day one, we
have experienced excellent customer service via in
person, phone & email with above expectations on
response time. We know and respect the difference
in fees, customer service, & quality. Thank you to
the entire team at The State Bank for an excellent
transition for both our personal and business accounts.
Mike & Tracy Sargent
Sargent’s Title Co. | Flint, MI
Commitment
to building
lasting
relationships.
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Helped me
navigate
through the
minutia to
achieve my
financing
goals through
their SBA
partnership.
It has been a pleasure to work with Michael Franklin
and the team at the Farmington Hills branch, setting
up new accounts, setting up ACH from customer
accounts, and closing on three loans. The most
complicated 504 SBA loan was seamless and
easy to move through the entire process. I would
recommend The State Bank to any small or mid-sized
business that wants a great banking partner.
Richard Simtob
Simtob Management & Investment | Lansing, MI
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The State Bank of Fenton truly is “our hometown
bank,” meeting all of our banking needs. They have
been the bank of choice for our growing businesses
for well over 30 years. Allied Media and our other
associated printing and publishing companies
have enjoyed a mutual trust relationship that has
taken us through tough economic cycles as well
as the financial boom times of the recent past.
It always comes back to personal relationships between
trustworthy banking personalities and our community-
oriented businesses. Allied Media has been working
with Tom Bertschy and Craig Johnson for many years
now. These men know our business, our business
needs and go the extra mile. The State Bank is our
local, hometown connection to grow and thrive our
businesses, there is no reason to shop anywhere else.
John Evans
Allied Media | Fenton, MI
Celebrating 125
Years:
Community,
Trust, and
Enduring
Relationships
(cont’d)
I have used The State Bank for my personal financing
and borrowing needs since 2017. As a self-employed
business owner, I have in the past needed business
loans and lines of credit many times and have always
had difficulty dealing with banks to get fair and
competitive products at the borrowing level I needed.
In 2023 I found myself in need of financing for new
growth and was unable to increase my existing line
of credit with another bank. The State Bank and Tom
Barrett were amazing and helped me navigate through
the minutia to achieve my financing goals through
their SBA partnership program in a very short time
frame. The State Bank was dedicated to my cause
and willing to build on my personal relationship
to extend that to a business relationship as well. I
cannot be thankful enough for Tom and his team.
Chad R. Myers
Energy Mat Alliance | Brighton, MI
Working with Aeron Grigg at The State Bank
has been a pivotal part of our journey. As small
business owners with a keen interest in real estate
investment, Aeron’s expertise was exactly what we
needed. He guided us through the complexities
of commercial loans with a level of detail and
dedication that exceeded our expectations,
ensuring we secured the best deal possible.
Aeron’s approach went beyond just business
transactions; he became a valued mentor and
friend, offering insights that have been instrumental
in both our business strategy and personal
investments. This trust in Aeron and The State
Bank’s services has laid a solid foundation for all
our future plans in real estate and business.
Looking forward, we’re excited to continue our
partnership with Aeron and The State Bank. Their
exceptional service and Aeron’s personal touch
have not just supported our current ventures
but are integral to our future success.”
Jeremy Gwizdala & Molly McGrandy
JM Performance, dba CrossFit Whip | Saginaw, MI
They have
brought a
wealth of
knowledge
and expertise
to both us and
our portfolio.
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The State Bank
commitment
to “hometown”
service has
remained top
notch!
[Not only]
supported
our current
ventures but
are integral
to our future
success.
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I am writing to express my wholehearted endorsement
for Mr. Michael Franklin, an outstanding banker at
The State Bank. As Owner/Founder at Quantam
Solutions, I have had the pleasure of working
closely with Michael over the past 15 years and
can confidently attest to his exceptional skills
and dedication in providing banking services.
Michael has consistently demonstrated an
unwavering commitment to delivering exceptional
service, particularly in the realm of providing
business loans and offering valuable guidance on
loan structuring. His depth of knowledge in financial
matters, coupled with a keen understanding of the
unique needs of businesses, has undoubtedly set him
apart as a trusted advisor in the banking industry.
One of Michael’s standout qualities is his
unparalleled loyalty to his clients. He goes above
and beyond the norm, ensuring that each client
receives personalized attention and tailored
solutions. His genuine interest in the success of
his clients is evident in his proactive approach to
addressing their financial needs and challenges.
Larry Freimark
Quantam Solutions LLC | Southfield, MI
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In 2023, our four restaurants made the decision to
transition their banking to The State Bank. Their
friendly and courteous team made our transition
very easy. The dedication of the treasury department
made sure that we were all set up with online
banking, ACH capabilities, wire transfers, and mobile
deposits. This team responded quickly either in
person with a phone call or via email. We could
not have made this transition without them.
Scott Nemode
Downtown Restaurant Investments | Bay City, MI
We have never had such a smooth and seamless loan
experience as we had with Kevin Neumeyer and The
State Bank. Kevin is always on top of everything we
need to have completed and walks us through every
detail so we never have any surprises at closing. He truly
makes the banking and loan experience enjoyable.
Josh Kemerer
Riverbend Storage North | Saginaw, MI
ATM ONLY LOCATIONS
ALPINE FOOD PLAZA
606 W. Broad Street
Linden, MI 48451
BURT
10811 Albee Road
Burt, MI 48417
CHESANING
148 Chapman Street
Chesaning, MI 48616
THOMPSON ROAD
3237 W. Thompson Road
Fenton, MI 48430
LOAN PRODUCTION
OFFICES
BAY CITY
268 Uptown Drive
Bay City, MI 48708
MAIN OFFICE
175 N. Leroy Street
Fenton, MI 48430
810.629.2263
BIRCH RUN
8412 Main Street
Birch Run, MI 48415
989.624.6280
BRIGHTON
134 N. First Street
Brighton, MI 48116
810.534.0800
CHESANING
12771 Brady Road
Chesaning, MI 48616
989.845.7070
FARMINGTON HILLS
Northwestern Professional Center
31000 Northwestern Highway,
Suite 150
Farmington Hills, MI 48334
248.498.6979
FLINT
Ferris Wheel Building
615 Saginaw Street
Flint, MI 48502
810.616.7895
GRAND BLANC NORTH
1401 E. Hill Road
Grand Blanc, MI 48439
810.603.9500
GRAND BLANC SOUTH
7606 S. Saginaw Street
Grand Blanc, MI 48439
810.695.9601
GRASS LAKE
12005 Michigan Avenue
Grass Lake, MI 49240
517.985.1062
HOLLY
4043 Grange Hall Road
Holly, MI 48442
810.750.8701
LINDEN
107 Main Street
Linden, MI 48451
810.750.8794
MONTROSE
200 W. State Street
Montrose, MI 48457
810.639.6101
MUNITH
201 N. Main Street
Munith, MI 49259
517.985.1062
NEW LOTHROP
9380 Genesee Street
New Lothrop, MI 48460
810.638.3003
SAGINAW
218 S. Washington Avenue
Saginaw, MI 48601
989.393.4020
SILVER PARKWAY
15095 Silver Parkway
Fenton, MI 48430
810.750.5605
ST. CHARLES
207 S. Saginaw Street
St. Charles, MI 48655
989.865.9434
STOCKBRIDGE
5101 M-106
Stockbridge, MI 49285
517.985.1062
THOMAS TOWNSHIP
7590 Gratiot Road
Saginaw, MI 48609
989.781.2350
VG’S FOOD CENTER
18005 Silver Parkway
Fenton, MI 48430
810.750.8781
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800.535.0517 | Fentura.com | TheStateBank.com