Marquette Savings Bank is the only remaining locally headquartered bank in Erie, Pennsylvania where every loan decision is a local decision made by local lenders. Localized decisions deliver hard-to-find advantages for businesses throughout Erie and Crawford counties such as: responsiveness, flexibility, speed, availability and commitment to local business — factors that can make the difference between achieving business goals and falling short. The business community has responded very well resulting in consistent growth year after year for Marquette’s Business Banking division.
RECORD-BREAKING GROWTH
In addition to local management, Marquette’s strong capital position also has contributed to the bank’s success in the commercial market. David Slomski, senior vice president of Business Banking, comments about Marquette’s success, “Our business banking portfolio realized its seventh consecutive record year. In 2016, Marquette Business Banking exceeded loan growth expectations by 32 percent and achieved a total loan portfolio increase of nearly 20 percent in one year. This increase was due to the variety of loans Marquette closed — ranging from as low as $10,000 up to several million dollars — as well as the sheer volume of loans written.” Business growth has come from all industry sectors from manufacturing to contracting, warehousing to wholesaling, health care, professional services and commercial real estate.
Keeping up with growth while maintaining a high level of customer service demands continued investment in people, processes and facilities. “Over the past 12 months, we have established a Business Banking wing at our Main Office in Erie and have converted the South Main Street Office in Meadville to a strictly Business Banking facility to accommodate our growth. Our seasoned business bankers continue to build their respective books of business while we make significant investments in software to further increase efficiency and turnaround time for our customers,” says Michael Edwards, Marquette Savings Bank’s chief executive officer.
LOCAL STRENGTH
Marquette’s strong capital position enables the bank to write larger loans normally attributable to corporate banks while having the flexibility and responsiveness local businesses find lacking at those banks. Jim McBrier, chief executive officer of McBrier Properties, remarks on this advantage, “Working only with local people is a plus. Marquette knows our company firsthand, which made it easier to obtain favorable terms. Plus, we were able to keep the money local; we didn’t have to go outside the market to get what we needed.”
Read more in the March 2017 edition of the Business Magazine.
