A Bank, at Your Service
The number of start-up banks is on the rise, and they're competing with the big boys by catering to business owners.
By: Dan Ackman
Published January 2006
Business owners have always had a love-hate relationship with their bankers--and these relationships have only become more strained as local banks have been gobbled up by large corporations in recent years. Sure, Citigroup and Bank of America offer their clients ubiquitous branches and online banking and even prestige--and there's nothing wrong with that. But try getting a line of credit extended quickly, let alone getting one of the bank's higher-ups on the phone. It rarely happens. And yet there's hope. As the total number of banks shrinks rapidly, a new breed of entrepreneur-friendly bank is emerging to fill the void.
Link: Inc. Magazine
Illinois de novo grows by raising service bar
On May 9, 2007, PeopleFirst Bank, Joliet, 111., surpassed the $50 million asset milestone.
"Your timing for an interview is good," said President Patrick Avendt, who spoke with North'Western Financial Review on that day. "Yesterday, we were below $50 million. We're celebrating. It may seem arbitrary on the surface of things, but for a new bank like ours, growth is what makes us even more confident in what we're doing."
Link: Northwestern Financial Review