Oakland County’s 8th community bank in 2 years scheduled to open in September
Level One community bank is scheduled to open in Farmington Hills in September. The bank is one of a growing number of community banks in Oakland County filling niche markets.
Level One community bank is scheduled to open in Farmington Hills in September. The bank is one of a growing number of community banks in Oakland County filling niche markets.
Excerpt:
The investment group, which has retained the Grosse Pointe investment banking firm of Donnelly Penman & Partners Inc., plans to open Level One at Northwestern Highway and 14 Mile Road in Farmington Hills.
The site has some 7,700 businesses within a three-mile radius and 14,000 within five miles.
“We’re certainly not focused on a niche,” [investor Patrick] Fehring said. “We’re going to be a full-service bank for growth throughout the region.”
Level One could lend up to $2 million-$3 million to small- and medium-sized businesses, Fehring said, though a lending limit has not been established.
Read the entire article here.
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