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GRANDVILLE -
Michigan's newest bank celebrated it's grand opening in Grandville today. Grand River Bank is a local start up bank that will cater to the needs of small businesses throughout the West Michigan community.
Organizers have been working for the past two years to raise capital and open the new bank. More than 750 investors have helped bankroll nearly $17 million to help launch the new bank.
Bank officials say despite Michigan's current economic condition, they felt now was the right time to give small business owners another option when it comes to their financing and banking needs.
"The economy didn't really factor into our decision making," said Grand River Bank Chairman of the Board Bill Bilotti. "What we recognized was a need for a return to relationship banking, there had not been a new bank in Grand Rapids in about a decade."
A ribbon cutting was held to announce the bank is now open to the public. The building is located just off of the northwest corner of Wilson and Gezon Parkway in Grandville.
Remarks from Grand River's Chairman of the Board Bob Bilotti and Joel Barr with the Grandville Chamber of Commerce can be found in the video player.
Organizers have been working for the past two years to raise capital and open the new bank. More than 750 investors have helped bankroll nearly $17 million to help launch the new bank.
Bank officials say despite Michigan's current economic condition, they felt now was the right time to give small business owners another option when it comes to their financing and banking needs.
"The economy didn't really factor into our decision making," said Grand River Bank Chairman of the Board Bill Bilotti. "What we recognized was a need for a return to relationship banking, there had not been a new bank in Grand Rapids in about a decade."
A ribbon cutting was held to announce the bank is now open to the public. The building is located just off of the northwest corner of Wilson and Gezon Parkway in Grandville.
Remarks from Grand River's Chairman of the Board Bob Bilotti and Joel Barr with the Grandville Chamber of Commerce can be found in the video player.
