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2005 News Room Archive
News Archives
3/31/2005
2/16/2005
2/1/2005
- Bill Broucek Retires from Bank of Ann Arbor (PDF)
- Michigan Banker Magazine
1/24/2005
1/19/2005
- Retiring Broucek Leaves a Legacy (PDF)
- Business Review
1/15/2005
Results of Arbor Bancorp Annual Meeting
5/19/2006
Timothy Marshall, President and CEO of Arbor Bancorp Inc., the holding company for Bank of Ann Arbor, is pleased to announce the following results presented at the Annual Meeting of Shareholders on Monday, March 21, 2005.
As for growth, total assets ended the year at $408 million. The growth achieved in 2004 was attributed to net loan growth of $42 million or an increase of 19.3% over the prior year end. Loan growth was funded by an increase of $20 million in deposits and more efficient utilization of the overall liquidity of the bank. The Trust area continued its impressive growth pattern as Trust Assets under Administration increased by $67 million or 29% and finished the year at $302 million. As for the impressive growth numbers, Marshall commented: "The person to person customer service reputation of the bank, key contacts and supporters throughout the community, and a well developed referral source network has positively impacted and continues to pay dividends in the growth of the bank and in the Trust area. While other competitors in the community use 1-800 numbers to satisfy customer inquiries, we continue to emphasize a personal, easily accessible, and a "know your customer" approach to delivering our bank products".
The credit quality of the loan portfolio remains outstanding. Total nonperforming loans amounted to 0.07% at year end 2004 versus a peer group average, as compiled by the FDIC, of 0.62% and net charge-offs for the year, as a percentage of average loans, amounted to 0.06% versus peer charge-offs of 0.15%. "By maintaining high credit quality standards, our commercial, mortgage, and personal bankers are able to concentrate on growth and customer satisfaction", noted Marshall.
Earnings rose to $4,584,000, up 14.5% over 2003. Earnings per share increased from $4.22 at year end 2003 to $4.79 at year end 2004, or an increase of 13.5%. Return on average equity amounted to 16.5% which was in line with the 5 year ROAE average of 16.4% per year for the bank. By comparison, the peer group of banks generated a 5 year ROAE average of 12%.
"We are grateful to our many customers and highly skilled group of bankers who are responsible for these impressive year end numbers, said Marshall. All of the reasons for starting the Bank of Ann Arbor in January 1996 are as evident today as in the formative days of the bank. There continues to be a need today and into the foreseeable future for an independent, locally owned, and locally operated community bank".
The following Directors were re-elected to three-year terms: William Broucek, Peter Fletcher, William Martin, and Jan Barney Newman. Bank of Ann Arbor President & CEO, Timothy Marshall was elected to a three year term.
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Bank of Ann Arbor signs option to purchase land
Bank plans to open new branch in southeast Ann Arbor
2/16/2005
Bank of Ann Arbor has announced plans to build a new banking facility on the northwest corner of Airport Blvd. and Ellsworth Road in Ann Arbor. The bank recently signed an option to purchase the three-acre site.
Bank President and CEO Timothy Marshall estimates that the new facility will open in mid-2006. The expansion to the south side of Ann Arbor is in response to customer needs.
"This is an exciting area of town, and both our retail and commercial clients have told us that they would like us there," Marshall said. "We've been looking for just the right location, and we believe we have found it."
The three-acre parcel allows for a state-of-the-art facility and ample parking.
"The property is zoned for the bank's needs, it has all utilities to the site, and the terrain is flat," Marshall said. "This location gives us flexibility as we plan for future growth of Bank of Ann Arbor."
The Airport Boulevard and Ellsworth location will be Bank of Ann Arbor's sixth banking office.
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New Staff Joins Bank of Ann Arbor
1/24/2005
Bank of Ann Arbor is pleased to announce that Jonathan Bowdler has joined its Commercial Banking Department as Vice President, Commercial Real Estate Manager.
Jon has an extensive background with twenty years of experience in commercial real estate banking in Washtenaw County and throughout southeastern Michigan. He will be responsible for building a strong presence in the commercial real estate market for Bank of Ann Arbor. He holds an undergraduate degree from Michigan State University, a M.B.A. from the University of Michigan, and is a Certified Public Accountant. "I decided I wanted to work at the only bank in the community that is locally owned and operated," commented Jon. "Bank of Ann Arbor has an excellent reputation for providing greater Ann Arbor businesses with quick turnaround, outstanding service and local business expertise."
"Jon's experience and expertise will enable Bank of Ann Arbor to expand its commercial real estate lending efforts," said Timothy Marshall, President and CEO. "We are pleased to have someone of Jon's caliber on our commercial banking team."
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Banking Veteran Retires as CEO of Bank of Ann Arbor Marshall Takes the Helm
1/15/2005
After more than 46 years in the banking industry, Bank of Ann Arbor CEO William M. Broucek will retire January 15, 2005. Timothy G. Marshall, who joined Bank of Ann Arbor in July, will assume the role of President and Chief Executive Officer. Broucek will remain on the bank's Board of Directors.
Broucek has been President and CEO of Bank of Ann Arbor since 1995 when he founded the bank with the support of several local business leaders. Under Broucek's leadership, the bank has grown to more than $400 million in assets, with nearly 100 employees serving customers from five office locations.
"I am grateful for having the opportunity to serve the Ann Arbor community over the past 37 years," said Broucek, who also founded the banking division of Ann Arbor Trust Company (now Key Bank). "As a member of the Board of Directors of the Bank of Ann Arbor, I will continue to do all that I can to help the bank grow under Tim Marshall's able leadership."
Marshall said, "The businesses and residents of Ann Arbor and Ypsilanti are fortunate to have a visionary such as Bill Broucek in their community. Under his direction, Bank of Ann Arbor has grown and developed into a strong, community-minded institution."
Marshall was elected President, COO and a Director of Arbor Bancorp and Bank of Ann Arbor by the Board of Directors at its June 2004 meeting. Marshall previously served as President of Salin Bank & Trust, a family-owned community bank with more than $990 million in assets operating solely in Indiana in 31 locations. Marshall holds a bachelor's degree from Purdue University and a master's degree in business administration from Butler University. He began his banking career in 1981.
"Over the past six months, I have had the privilege to work with and learn from Bill," Marshall added. "I am honored to follow in his footsteps and will do all I can to ensure that the Bank of Ann Arbor continues to grow and prosper."
Broucek said, "Under Tim's direction, Salin Bank grew significantly in assets and earnings. I am confident that his leadership, vision and experience will serve the Bank of Ann Arbor well."
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