Bank of Northern Michigan opens new doors
TRAVERSE CITY – After some 15 months of construction, the new Bank of Northern Michigan building at the corner of Union and State streets is set to open its doors Dec. 10.
The $4 million new banking facility includes three floors and 15,000 square feet of office space. The bank will occupy the first two floors with the third available for lease to a single tenant. The building completes the redevelopment of a corner vacated by Kinney's Pioneer Service.
The Bank of Northern Michigan opened a Traverse City location in 2006, a few doors down from its permanent home. Executive Vice President John Paul said the bank's first year in town has "gone very well," with its market niche in business banking.
"The response has been very receptive," he said.
The Bank of Northern Michigan has one other location, in downtown Petoskey. The bank's business model is built on "signature buildings," explained Paul, and doesn't have branch locations.
"We do try to focus on more non-traditional ways to do services," including spending time working outside of the office with clients.
Paul has more than 30 years of experience in the banking industry, much of it in northern Michigan and at Old Kent Bank (now Fifth Third).
The bank is planning a grand opening celebration in mid-January.
More information is available at www.tbonm.com.