Sturgis Bancorp, Inc. Announces Approval for New Branches
STURGIS, MI / ACCESSWIRE / November 2, 2020 / Sturgis Bancorp, Inc. (OTCQX:STBI) today announced that its subsidiary Sturgis Bank & Trust Company (Bank) has received regulatory approval to open three additional full-service branch offices in Kalamazoo and Berrien Counties in Southwestern Lower Michigan.
The Kalamazoo County office is at 1210 Milham Avenue, Portage, Michigan. The location has previously been used as a loan production office.
The two Berrien County offices are at 320 Main Street and 3125 Cleveland Avenue, both in St. Joseph, Michigan.
President and CEO Eric L. Eishen stated, "The Bank already has several customers in the St. Joseph and Portage communities, and we are very excited to extend our community bank service model to fully serve these businesses, municipalities, and consumers."
Sturgis Bancorp is the holding company for Sturgis Bank & Trust Company (Bank), and its subsidiaries Oakleaf Financial Services, Inc., Oak Mortgage, LLC, Oak Insurance Services, LLC, and Oak Title Services, LLC. The Bank provides a full array of trust, commercial and consumer banking services from banking centers in Sturgis, Bangor, Bronson, Centreville, Climax, Colon, South Haven, Three Rivers and White Pigeon, MI. The Bank also has loan production offices in Portage and St. Joseph, Michigan, which are in the process of conversion to full-service branch offices. Oakleaf Financial Services offers a complete range of investment and financial-advisory services. Oak Mortgage offers residential mortgages in all markets of the Bank. Oak Insurance Services offers various competitive commercial and consumer insurance products. Oak Title Services offers commercial and consumer title insurance.
For Sturgis Bank & Trust Company updates, visit www.sturgisbank.com.
This release contains statements that constitute forward-looking statements. These statements appear in several places in this release and include statements regarding intent, belief, outlook, objectives, efforts, estimates or expectations of Bancorp, primarily with respect to future events and the future financial performance of the Bancorp. Any such forward-looking statements are not guarantees of future events or performance and involve risks and uncertainties, and actual results may differ materially from those in the forward-looking statement. Factors that could cause a difference between an ultimate actual outcome and a preceding forward-looking statement include, but are not limited to, changes in interest rates and interest rate relationships; demand for products and services; the degree of competition by traditional and non-traditional competitors; changes in banking laws and regulations; changes in tax laws; changes in prices, levies, and assessments; the impact of technological advances; government and regulatory policy changes; the outcome of any pending and future litigation and contingencies; trends in consumer behavior and ability to repay loans; and changes of the world, national and local economies. Bancorp undertakes no obligation to update, amend or clarify forward-looking statements as a result of new information, future events, or otherwise. The numbers presented herein are unaudited.
CONTACTS:
Sturgis Bancorp, Inc. - Eric Eishen, President & CEO, or
Brian P. Hoggatt, CFO P: 269 651-9345
SOURCE: Sturgis Bank & Trust Company
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