Founded in Macomb County in 1917, last year marked
Headquartered in St. Clair Shores, the bank has 11 branches located throughout the county and employs more than 175 employees. First State Bank has $692 million in assets, 3,000 business customers, 23,000 consumer households and more than 50,000 accounts. They honor their commitment to superior customer service started 100 years ago through providing the latest banking technologies and services.
Aside from many expansions and technology upgrades, some highlights from the past 100 years include a name change in 1929 from Halfway Savings Bank to First State Bank, reorganization of the bank in 1933 during the Great Depression, and continued lending and no government bailout required in 2008 during the Great Recession.
Throughout the years, First State Bank has remained dedicated to the local community. This can be seen through the support given to numerous community projects such as a scholarships for East Detroit students, Macomb Food Bank food drives, contributions to revive the Detroit Symphony Orchestra concert and fireworks at Stony Creek Metropark and so much more. The bank’s prolific sponsorships, volunteerism and donations earned them the Corporate Citizen award at the Macomb Business Awards in both 2014 and 2015.
In honor of their centennial celebration, First State Bank carried on this tradition of giving by directing a $100 donation to their employees’ charitable organizations of choice. Each employee was also given a community service day off to volunteer at a charitable organization or event.
Additionally, $5,000 donations were awarded to different local nonprofits in the months leading up to the bank’s anniversary in October 2017. Honorees were nominated by bank employees and customers and evaluated according to community impact. Some of the recipients included
“There’s no question that people are the heart of our community bank,” said Gene Lovell, First State Bank’s president and CEO. “We’re committed to serving our community because we’re committed to taking care of our community. Our success is directly tied to that of our area neighborhoods and businesses that surround us. And being a locally owned bank that people have trusted for 100 years is a true testament to the way we do business.”
Caitlin Gerds Habermas is an associate planner for the Macomb County Department of Planning & Economic Development. This article was featured in the Spring 2017 eMacomb Newsletter.