As the New Year rolls in, there will be another reason to celebrate for Clarkston State Bank, they are having their fifth anniversary.
It was a cold Monday morning on Jan. 25, 1999, when several local and county business leaders gathered at 15 S. Main for a ribbon-cutting ceremony for Clarkston State Bank. The bank had been open for three weeks and gotten off to a terrific start by taking in more than $1 million in the first week.
‘It’s nice to see a local bank back in Clarkston,? Oakland County Executive L. Brooks Patterson said on that day. ‘This is a very dynamic community and it’s great to have a local bank back in this community.?
At the ceremony, the bank donated 1,000 shares to the Clarkston Foundation. The shares carried an approximate value of $10,000.
President and CEO at the time, Dave Harrison explained the early success to The Clarkston News in the Jan. 27, 1999 edition.
‘Two reasons: one is the emotion of the response to our location. People like the association with downtown,? Harrison said. ‘Two, I think people are disgusted with the treatment they receive at bigger, consolidated banks. They are upset with the changes that are taking place and it drives them to a place like this.?
Clarkston State Bank President and CEO Dawn Horner, who along with Kris Ehlke is the only employee left from the grand opening, is proud of what the bank has been able to accomplish. Horner, who at the time of the opening was operations manager, said the bank has met all their goals.
‘We projected that we wanted to add a new branch every year for the first five years and we were able to do that,? Horner said. ‘The community has been very supportive of our efforts and we are grateful.?
Along the lines of the original quote by Harrison, Horner said the bank has continued to excel in customer service.
‘We bring back the ways banks used to run. We call the customers by their names when they come in and we truly know the customers. We are truly a community bank. We put a high focus on service,? Horner said.
Clarkston State Bank has made great progress in five years including:
? They have expanded to five branches with another branch, at M-15 and Citation Drive, planned for 2004.
? The Initial Public Offering was $10 per share in 1999 and at year-end that stock price is more than $16 per share.
? The bank is involved in many community organizations including SCAMP, Clarkston Coalition for Youth, the Clarkston Chamber of Commerce, and also manages school branches at Clarkston and Springfield Plains Elementary Schools.
The bank is also planning on launching Internet banking before the end of the first quarter.
Clarkston State Bank first opened their doors in the early 1900s. In the 1960s they were sold to Pontiac State Bank who were eventually bought out by National Bank of Detroit and then Bank One. The Main Street branch closed in 1997 which raised concern that there was no bank in downtown Clarkston. Eight investors got together and launched the bank in 1999.