Southern Michigan Bank and Trust (SMB&T) has broken ground on its first bank branch in Portage. The bank has 14 locations throughout the region including those in Battle Creek and Three Rivers.
The bank currently plans to open in Portage with six new full time employees, and the number of employees could rise to seven if a mortgage originator is hired.
The new bank will be a full-service branch, complete with a drive-thru, parking, an ATM, financial services, loan origination, and modern technology, such as a virtual teller machine.
It will be a LEED Certified building, with all design and construction elements, materials and processes built in accordance with the LEED standards. Orion Construction is the general contractor for the bank project that is expected to be completed in late 2015.
The bank at 531 W. Kilgore is going up at the Hinman Company retail development Westnedge@Kilgore. The development is anchored by Earth Fare. Bank officials say SMB&T chose Westnedge@Kilgore for their new branch because of its centralized location and convenient proximity to surrounding neighborhoods and the highway. The presence of Earth Fare in the shopping center was also a key factor in SMB&T’s site selection process.
“We are eager to bring Southern Michigan Bank and Trust’s unique services to the Portage and Kalamazoo area. The region is enjoying significant growth and is home to a vibrant business community,” says John H. Castle, CEO and Chairman of Southern Michigan Bank & Trust.
Hinman’s future plans for development at Westnedge@Kilgore include an additional 15,000 square feet of retail immediately north of Earth Fare. Hinman also plans to develop the seven acres east and north of Lowe’s Home Improvement. There also is a new 3,200 square foot retail space next to Earth Fare that is currently available for lease.
“SMB&T is very well-respected in the industry and we expect the bank will have success in this market,” says Roger Hinman, CEO of Hinman Company.
Story written by Kathy Jennings – Southwest Michigan’s SecondWave Media
Sources: The Hinman Company, Southern Michigan Bank and Trust