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About Bank of Ann Arbor
About Us | News | Bank Holidays | Career OpportunitiesIn the summer of 1995, a group of prominent business people began the process of organizing the city's only local bank. The applications for a new bank charter and for deposit insurance were both filed that summer and the banking office at 125 S. Fifth Avenue was purchased from Comerica Bank. Six million dollars of initial capital was raised in the local community from businesses and professionals and the bank opened its doors on January 16, 1996 with 15 employees and one location.
The bank's rapid growth necessitated two additional stock offerings in the first three years totaling $5,400,000 and both of these offerings were sold only to customers of the bank.
Late in 1997, the bank opened a full service Trust Department in response to the strong demand from its clients.
The year 2001 saw the opening of our first branches. In February, an office opened in the Traver Village Shopping Center at the corner of Nixon and Plymouth Roads on the northeast side of Ann Arbor. In April our downtown Ypsilanti office opened on East Michigan Avenue in a newly renovated historical building in order to bring community banking to the Ypsilanti market.
An office at 3500 Washtenaw Avenue opened in the late spring of 2002. In the fall of 2002, the Bank launched the Technology Industry Group to focus on the unique needs of the region's growing technology business community.
At the beginning of 2003, our much-anticipated office at the corner of Stadium and Liberty in Ann Arbor opened. The new building replaced a string of failed restaurants and dramatically improved the look of the corner.
In January 2005, Timothy G. Marshall became Bank of Ann Arbor's President and CEO.
In October of 2005, construction began on a 17,000 square foot, state-of-the-art branch at Ellsworth and Airport Roads on Ann Arbor's southeast side. And we introduced Health Savings Accounts which help employers reduce health care expenses. Analysts predict over 70% of employers will offer a Heath Savings Account-qualified plan as part of their benefit mix by as soon as 2008.
Bank of Ann Arbor, along with Pfizer, the University of Michigan, Eastern Michigan University and several other private and public firms, became a founding member of Ann Arbor SPARK. SPARK's goal is to increase the number of technology companies in Washtenaw County.
In January 2006, Bank of Ann Arbor celebrated its 10th anniversary of helping individuals, businesses and non-profit organizations in our community.
Our Ellsworth office opened in November 2006.
Mission Statement
It is the mission of Bank of Ann Arbor to be a locally owned and operated bank; be the premier financial institution within the market focusing on business and professional solutions and offering a full range of high quality products and services to our clients; achieve superior long-term value for our shareholders; and create an environment to promote and reward the development and positive contribution of our employees.
Investor Information
Bank of Ann Arbor is a wholly owned subsidiary of Arbor Bancorp, Inc., a locally owned and managed financial service holding company. No stock is available for sale or purchase at this time. Current shareholders may contact us at 734-662-1600 for further information.
Code of Conduct
The Bank of Ann Arbor Board of Director's Code of Conduct is available for review.
