2004 Press Releases
COMMUNITY BANKING IS HERE TO STAY
and Wolverine Bank is one of the Best
November 2004: With bank mergers a daily event and big banks getting ever bigger, it is important to know there is a superb community bank, Wolverine Bank, Midland, Michigan, right in your own neighborhood. Wolverine Bank has been rated 5-stars by BAUERFINANCIAL Inc., the nation’s leading independent bank rating firm, giving it the distinction of beingone of the strongest banks in the nation. What’s more, it has earned this 5-star rating 65 consecutive times. (The rating is based on an evaluation of the most recent financial data filed with federal regulators and analyzed by BAUERFINANCIAL Inc.)
“Big banks don’t elicit the same trustworthiness as community banks,” remarks Karen Dorway, president of the research firm. “I believe Don Powell, the Chairman of the FDIC, said it best at the American Banker’s Association Annual convention: ‘Americans will continue to want locally controlled financial institutions that understand their needs and participate in their way of life… They are part of the fabric of our traditions of selfreliance, homeownership and entrepreneurship’.”
Wolverine Bank has been serving the needs of its neighbors and friends in Mid-Michigan for 70 years. Established in 1934, it currently operates through five conveniently located offices in Frankenmuth, Midland and Saginaw and can be found on the internet at www.wolverinebank.com.
Wolverine Bank: “Your hometown, independent, community bank offering flexible, accessible, personalized products and services.”
BAUERFINANCIAL Inc., Coral Gables, Florida, is the nation’s leading independent bank rating firm. It has been reporting on and analyzing the performance of U.S. banks, thrifts and credit unions since 1983. Consumers may obtain free star-ratings by calling 800.388.6686 or visiting www.bauerfinancial.com.
For more information on Wolverine Bank, or any other U.S. bank, contact Karen Dorway directly at 800.388.6686 or e-mail her at kdorway@bauerfinancial.com.
BANK PROFITS REACH HISTORIC HIGHS
But there is more to Banking than Just Profitability
August 2004: Wolverine Bank, Midland, Michigan has proven itself to be much more than just profitable by earning a 5-star rating based on a complex formula that factors in a host of relevant data, including but not limited to, Wolverine Bank's capital safety levels, the quality of its loan portfolio, its ability to meet obligations, its historic performance, and, of course, profitability. The rating is based on an evaluation of Wolverine Bank's most recent financial data filed by Wolverine Bank with federal regulators and analyzed by BauerFinancial Inc., Coral Gables, Florida
This is the 64th consecutive time Wolverine Bank has achieved this top 5-star rating from the firm which also gives it the distinction of an "Exceptional Performance Bank". This designation is reserved only for those banks able to achieve this highest rating for ten straight years.
"Being profitable is important, but 95% of the industry is profitable," said Karen Dorway, president of the research firm. "What sets Wolverine Bank apart from the others is its adherence to basic values and the highest standards. That's what enables Wolverine Bank to achieve a top rating time and time again. Its commitment to its community and customers is apparent in its day to day operations."
Wolverine Bank has been a financial steward for its neighbors and friends in Mid-Michigan for 70 years. Established in 1934, it currently operates through five conveniently located offices in Frankenmuth, Midland and Saginaw and can be found on the internet at www.wolverinebank.com.
Wolverine Bank: "Your Hometown, Independent Community Bank Offering Flexible, Accessible, Personalized Products and Services."
Local Bank Receives Top Award
June 2004: Wolverine Bank, Midland, Michigan has earned a 5-Star rating… its 63rd in a row, according to BAUERFINANCIAL Inc. Coral Gables, Florida, the nation’s leading independent bank rating firm. The 5-star award recognizes Wolverine Bank’s continual Superior performance and strength. (The award is based on an analysis of current financial data as supplied by federal regulators, supplemented by historical data.) Wolverine Bank has also earned the right to be called an Exceptional Performance Bank, a distinction reserved only for those banks that have consistently earned a 5-star rating for at least the past ten years.
“Earning a 5-Star rating is, in itself, an outstanding achievement – evidence of consistently sound management, financial strength and performance,” said Karen Dorway, president of the research firm. “Earning 5-Stars 63 consecutive times is truly remarkable. Fewer than 2% of the nation’s banks have achieved that feat.”
A steadfast community bank, Wolverine Bank has been servicing the needs of its neighbors and friends in Mid-Michigan for 70 years. It operates through five conveniently located offices in Frankenmuth, Midland and Saginaw and can be found on the internet at www.wolverinebank.com.
Wolverine Bank: “Your Hometown, Independent Community Bank Offering Flexible, Accessible, Personalized Products and Services.”
Wolverine Bank Announces New Board Chairman and
Two New Board Members; Three Other Directors Are Re-elected
Midland, Michigan; April, 2004 – At the 71st annual meeting of Wolverine Bank’s Board of Directors, William C. Schmidt officially became Chairman of the Board replacing Haroldine Daily who is retiring after 20 years service. In making the announcement, Wolverine Bank President and CEO David H. Dunn praised Daily for many contributions that have enhanced the Bank’s standing in the community and in the industry. Dunn said: “Haroldine has a rare mix of keen business sense and genuine concern for people that has led the Bank in breaking all performance records for as long as she has presided as Chairman.” In tribute to Daily’s lasting impact, Schmidt added: “I am greatly honored to be taking on this position and will aim to build on the progress that was made under the strong lead of my predecessor.”
In addition to the changing of the guard from Daily to Schmidt, Wolverine Bank’s Board of Directors now includes two new members – Roberta “Bobbie” N. Arnold and Joseph VanderKelen. The Board also re-elected Dr. Herbert L. Camp M.D., Ron R. Sexton, and Frank H. Brod.
Schmidt was first elected to Wolverine Bank’s board in 1982. As his career led him back and forth from Midland to Indianapolis, Schmidt has given 13 years of service to the Bank. In January 1998, he retired from The Dow Chemical Company after 37 years as Assistant Controller and Chief Financial Officer of what is now known as Dow AgroScience. He has a long record of community involvement including serving as Regent of the Institute of Certified Management Accountants, Treasurer of the American Health Council, and past chairman of MidMichigan Health and MidMichigan Medical Center-Midland. Schmidt has undergraduate and graduate degrees in business administration from the University of Michigan and attained Certified Management Accountant status in 1973.
Roberta “Bobbie” Arnold is the Executive Vice President of The Charles J. Strosacker Foundation. A Midland native, Arnold has traveled extensively with her family as her husband, David’s, college football coaching career has moved them to cities in Michigan, Montana, Washington and Florida. Now firmly planted back in Midland, Arnold currently serves in various capacities benefiting the MidMichigan Regional Medical Center’s Development Committee, MidMichigan Health’s Corporate Membership, Midland Entranceways Initiative Task Force, Midland Beautification Committee, and the Leadership Midland Alumni Board. She is active as Membership Chair of Zonta International and Co-Chair of the 2003 Mid-Michigan Medical Center Love Light Trees Campaign. She also volunteers for the Lunch Buddies weekly reading program at Eastlawn Elementary and at Pinecrest Farms.
Born and raised in Midland, Joseph VanderKelen has been President and Owner of Snow Makers Incorporated (SMI) since 1991. SMI is a Midland-based enterprise that specializes in snowmaking and evaporation equipment and construction services throughout the world. VanderKelen has a mechanical engineering degree and a master’s degree in business administration from Michigan State University. He actively supports the West Midland Family Center and numerous ski area associations.
Having earned his Doctor of Medicine at the University of Michigan College of Medicine in 1966, Dr. Herbert Camp has practiced medicine in Midland since 1975. He has also practiced medicine in New York, Georgia and Texas. Dr. Camp holds hospital appointments at MidMichigan Medical Center in Midland and Bay Medical Center in Bay City. He is a member of the following medical organizations: American Medical Association, Michigan State Medical Society, Midland County Medical Society, American Academy of Otolaryngology, American College of Surgeons, American Board of Otolaryngology and the American Academy of Otolaryngologic Allergy. A native of Midland, Dr. Camp joined the Wolverine Bank Board of Directors in 1981 and is currently its longest serving active member.
An 18-year member of Wolverine Bank’s Board of Directors, Ron Sexton is Corporate Treasurer of Dow Corning Corporation. He has held many influential positions since joining Dow Corning as a Senior Accounting Specialist in 1977. He currently is a member of the Financial Executives Institute, American Institute of CPAs, Michigan Association of CPAs, the Institute of Internal Auditors and the Treasury Leadership Council. Sexton’s community involvement includes functioning as chairman (past) of the Board of MidMichigan Health System, MidMichigan Regional Medical Center and the Midland Community Tennis Center. He is also involved in the County Council on Aging, the Boy Scouts of America and in an accounting advisory capacity at Northwood University. He holds a B.S. degree in Mathematics and Business Administration from Alma College and an M.B.A. in Finance from the University of Michigan.
Now entering his fourth year as a director for Wolverine Bank, Frank Brod is the Vice President and Controller of The Dow Chemical Company. Brod has had many titles and business affiliations in his 29-year career with Dow including Global Accounting Director, Europe Controller, Fabricated Products Business Finance Director, U.K. Financial Controller, and Essex Chemical Controller (now Dow Automotive). He is a member of the American Institute of Certified Public Accountants, the United Kingdom Society of CPAs, the Michigan Association of CPAs, and the Texas Society of CPAs. He is a board member of Midland Community Cancer Services and a member of the Accounting Advisory Boards of both Michigan State and Northwood Universities. Brod holds a bachelor’s degree in industrial management from Illinois Institute of Technology. He is a Certified Public Accountant and has been a recipient of numerous professional excellence awards.
The remaining board members are: Richard M. Reynolds, Susan H. Schehl, Burnett S. Kelly, and David H. Dunn.
Headquartered in Midland, Wolverine Bank serves many counties throughout Michigan from full-service offices in Midland and Frankenmuth, as well as from a loan center in Saginaw. An independent and locally-owned community bank, Wolverine Bank has been providing low cost and no cost financial products since 1934 including a complete selection of commercial and residential mortgage and lending products and FDIC-protected deposit products and services including checking, money market, savings, certificates of deposits, VISA Check Cards, free online banking and free bill payment. Wolverine Bank is among only 5.5% of banks nationwide to receive national acclaim from independent industry analyst, BauerFinancial Inc, for financial strength and service quality over time. The Bank recently closed the books on a banner year for loan activity and deposit growth.
Wolverine Bank Honors Tenured Employees
Wolverine Bank honors five employees and two board members for double digit years of service to the company. The honorees are: Cindy Armbruster, 25 years; Haroldine Daily, Ron Sexton, and Cathy Wirsing, 20 years; Janet Reitz, Susan W. Svatora, and Elizabeth M. Hickey, 10 years. They join an elite group of tenured individuals who now comprise close to one-third of the Bank’s entire full-time staff.
Armbruster started her career at Wolverine Bank as a Customer Service Representative and became a Branch Manager. In 1986, she joined the mortgage department and now functions as Secondary Market Manager. Armbruster studied Business Education at Central Michigan University. She serves as Chairman of the Board of the Literacy Council of Midland County and is an alumni member of the Midland Jaycees and Leadership Midland.
Daily, who currently presides as Chairman of Wolverine Bank’s Board of Directors, has a Bachelor of Science degree from Oklahoma State University and completed graduate work there and at the University of California. She was a teacher for 10 years and has an extensive background in real estate investment. Daily has previously served as President, Vice President and Secretary of the Midland Country Club. Daily is a member and past president of the Midland chapter of Kappa Kappa Gamma Alumna. She is also very active in her church.
Sexton, a Wolverine Bank Board member, holds a Bachelor of Science in Mathematics and Business Administration from Alma College and an MBA in Finance from the University of Michigan. He is Corporate Treasurer of the Dow Corning Corporation where he serves on the Finance and Investment Committee and is a Director of Hemlock Semiconductor Corporation. Sexton is a member of the Financial Executives Institute, American Institute of CPAs, the Institute of Internal Auditors and the Treasury Leadership Council. He is past Chairman of the Board of MidMichigan Health System, MidMichigan Regional Medical Center and the Midland Community Tennis Center. Sexton also serves as President of the Midland County Council on Aging, is a member of the Investment Committee of the Lake Huron Council of the Boy Scouts of America and a member of the Northwood University Accounting Advisory Committee.
Wirsing currently holds the title of Manager/Human Resources for Wolverine Bank. Prior to entering the banking industry in 1974, Wirsing attended Central Michigan University, Towson State College in Maryland and holds an Associate in Arts degree from Delta College.
As Senior Operations Officer, Reitz manages Wolverine Bank’s audit, compliance, loan and branch operations, human resources, security and facilities. She graduated summa cum laude with a BBS from Saginaw Valley State University.
Svatora, a Business Development Officer, focuses on generating new sources of lending and deposits for the Bank. She attended the University of Wisconsin and has been a licensed Real Estate Professional since 1989. She is also very involved in the community as a Midland Area Chamber of Commerce Ambassador, Past President and Co-President of the Noon Exchange Club, Loaned Executive for United Way, Junior Achievement instructor, and is a 1996 graduate of Leadership Midland. Svatora is involved with her church, and is a recipient of the National Exchange Club’s Outstanding Service Award.
Hickey started at Wolverine Bank as an auditor and became the Manager of Loan Operations in 1997. As Loan Operations Manager, Hickey now oversees the origination, processing and closing of loans and maintenance of escrow accounts, payoffs, releases and collections. Hickey has a BBA in Accounting from Western Michigan University.
Wolverine Bank also congratulates Cheryl Stine and Christine Leeck for five years of service. For two years of service the Bank recognizes Lisa Kempf, Angelia Larkin, Mike Born, and Kerry Horan.
An independent community bank serving mid-Michigan since 1934, Wolverine Bank has branches in Midland and Frankenmuth, as well as a loan office in Saginaw.
WOLVERINE BANK REPORTS RECORD-SETTING YEAR
Midland, Michigan – Wolverine Bank today reported record-setting loan volume and deposits for the year ended December 31, 2003.
“We are proud to announce our most remarkable year ever,” said David H. Dunn, president & chief executive officer. “In 2003, the Bank originated over $232 million in new loans and $157.9 million in deposits – up 10.8% and 3.8%, respectively, over the previous year. The lowest rates in nearly half a century enabled us to assist our individual and business customers in saving millions of dollars on their loans while, simultaneously, our deposit customers were enjoying the safety of their principal and guaranteed returns on their Wolverine Bank investments. By capitalizing on our strength in lending and focusing on attracting significant deposit activity, we closed the books on a very satisfying year.”
Wolverine Bank also reported the highest equity capital level in its history – a total of $36 million at year end – a 5.6% increase over 2002. Equity capital is key in demonstrating the Bank’s financial stability and performance.
Further evidence of the Bank’s stellar achievements is the fact that it continues to receive high accolades from independent industry analysts. In 2003, the Bank received the highest 5-star rating for the 61st consecutive quarter from Bauer Financial Reports whose president, Karen L. Dorway, points out: “Wolverine Bank has had fifteen uninterrupted years of measurable, consistent and documented excellence.” It is a distinction shared with a dwindling percentage of banks nationwide – just 5.5% in 2003.
A significant achievement in 2003 was the completion in May of the Bank’s new corporate headquarters at 5710 Eastman Avenue in Midland. It represents years of planning and many improvements in service for customers including 4 outside lanes, 6 indoor counters, drive-up ATM service, private offices for discussing confidential matters and plenty of room for continued growth.
An FDIC-insured independent community bank since 1934, Wolverine Bank serves many communities throughout Michigan from four full-service offices in Midland and Frankenmuth and a loan center in Saginaw. The Bank offers a complete selection of low and no cost financial products and services that includes checking, money market, savings, certificates of deposit, as well as residential, consumer and commercial loans, VISA Check Cards, free online banking, and free bill payment.
Learn more about Wolverine Bank by visiting the company web site at www.wolverinebank.com or call 989-631-4280.
Wolverine Bank Tops in Banking Performance
February 2004: Wolverine Bank, Midland, Michigan has earned a 5-Star rating from BAUERFINANCIAL Inc. Coral Gables, Florida, the nation’s leading independent bank rating firm. Five-stars denotes the absolute highest level of banking performance.
For consistently maintaining a 5-star rating in each quarter for ten years or more, Wolverine Bank has the added distinction of being a BAUERFINANCIAL “Exceptional Performance Bank”. Wolverine Bank has earned the coveted 5-star rating for 62 consecutive quarters. (The award is based on an analysis of current financial data as supplied by federal regulators, supplemented by historical data.)
“We constantly receive phone calls from people worried about where they are putting their money; and with good reason,” notes Karen Dorway, president of the research firm. “With rogue institutions popping up on the internet and elsewhere, many falsely claiming to be FDIC insured, it’s important to know there are still principled people running good, solid banks. Wolverine Bank is one of those banks… a bank you can have confidence in.”
Wolverine Bank has been servicing the needs of its neighbors and friends in Mid-Michigan for 70 years. Established in 1933, it now operates through five conveniently located offices in Frankenmuth, Midland and Saginaw. Wolverine Bank can also be found on the internet at www.wolverinebank.com.
Wolverine Bank: “Your Hometown, Independent, Community Bank Offering Flexible, Accessible, Personalized Products and Services.”
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