Huron Valley State Bank

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Huron Valley State Bank
HVSB
Company typePublic
OTC Pink Current: HVLM
Industry
Founded2005; 19 years ago (2005)
Headquarters130 South Milford Road
Milford, Michigan 48381[1]
Number of locations
2 Branches
1 Financial Center
1 Loan Center
3 ATMs
(2023)
Area served
Oakland County, Michigan Wayne County, Michigan
Key people
Jack Shubitowski (CEO)
Peter Scodeller (Chairman)
ServicesConsumer banking, Corporate banking, Financial analysis, Mortgage loans, Credit cards, Card Services
Number of employees
40+ (2023)[2]
ParentHuron Valley Bancorp, Inc.[3]
Websitehvsb.com
Footnotes / references
[4]

Huron Valley State Bank (HVSB) is a community bank operating in Southeast Michigan overseen by a group of local investors.[5] The bank operates 2 full service branches, a Loan Center, a Financial Center, and 3 ATMs throughout the Detroit Metropolitan Area.

Huron Valley State Bank is a state-chartered bank insured by the Federal Deposit Insurance Corporation (FDIC)[6][7] and is an Equal Housing Lender.

History[edit]

Huron Valley State Bank is a bank founded and headquartered in Milford, Michigan.[8]

Established in 2005[9] by Clarkston Financial Corporation (CFC) as a de-novo bank, Huron Valley State Bank became independent of CFC 3 years later in 2008. Since its founding, the bank has expanded through the opening of 3 Branches, 2 Loan Centers and a Financial Center.

HVSB now actively serves the communities of Milford,[10] Highland,[11] South Lyon, Commerce, Brighton, Plymouth, among others in the surrounding area.

Clarkston State Bank[edit]

In December 2004, CFC, the holding company for Clarkston State Bank, announced its plan to open a new bank in Milford in July 2005. Edwin L. Adler, then board chairman of CFC, revealed that the bank would be replacing a loan production office on North Main St. that Clarkston State Bank had opened earlier that month. Huron Valley State Bank began with David H. Blossey serving as director, president and CEO.[12]

Due to apparent financial pressure from failing commercial loans, Clarkston Financial Corporation divested its share of Huron Valley State Bank a year later in 2005.[13]

In June 2019, Clarkston Financial Corporation was acquired by Waterford Bancorp, Inc.[14][15]

Bank Branches[edit]

Original HVSB Branch
HVSB's Former Main Street Branch

In August 2005, the first Huron Valley State Bank branch opened its doors to the public. The Main Street Branch was located in the Mill Valley Center, across the street from the Flat Iron Building, at 525 North Main Street.[16][17] This location housed the entirety of the bank's operations until the opening of the Main Street Lending Center in 2012 which relocated the loan department.

In October 2008,[18] after outgrowing the location and gaining independence from CFC, the main office was relocated to its current home in the south side of Milford on Milford Road. The bank's operations stayed in the branch until the opening of the Financial Center in 2018. With the opening of the center, most of the bank's operations and loan departments were consolidated into one building.

Later in 2008, following the acquisition of a closed Fifth Third Bank Branch, the Milford location was accompanied by a second branch in Highland on M-59 and Duck Lake Road.

Loan and Financial Centers[edit]

HVSB's Former Milford Lending Center
HVSB's Former Milford Lending Center

In June 2012, the bank's former Main Street Lending Center was opened at 522 North Main Street in Milford. The center was located across the street from the original branch on Main Street between the Flat Iron Building[19] and Commerce Road.[20]

In August 2018, the bank opened its newest facility.[21] The Financial Center is located directly behind Holden’s Party Store and adjacent to Baker’s of Milford. The branch now houses part of the bank’s lending and the entirety of its operations activities.[22]

In May 2023, the bank expanded outside of Oakland County for the first time into neighboring Wayne County with its Plymouth Loan Center. The branch is located in the downtown area at 706 South Main Street, at the corner of Linden Street and Main Street.[23]

Milford Road ATM Re-Opening[edit]

In September 2017, the bank hosted a re-opening ceremony for its first freestanding ATM. The replacement machine was positioned in the parking lot in front of Holden’s Party Store across from the entrance of Kensington Metropark and Dairy Queen.[24]

The original ATM at that location was initially attached to the storefront of Holden's Party Store and was subsequently destroyed by a fire that occurred in the store on September 2, 2015.[25]

Awards[edit]

Source:[26]

  • 5 Star rating from Bauer Financial (Ongoing as of 2023)[27]
  • “People's Choice” by the Spinal Column for 9 Consecutive years (2022)
  • Michigan Bankers Association’s (MBA) Financial Literacy Award (2020 and 2022) [28]
  • Metro Detroit’s "Best and Brightest Companies to Work For" for 4 Consecutive Years (2021)[29][30]
  • Top 200 Publicly Traded Community Banks and Thrifts by American Banker Magazine (2021)[31]
  • Huron Valley Chamber of Commerce's "Rise to the Occasion" Award (December 2020)[32]
  • Huron Valley American Veterans Post 2006’s Patriotism Award (2018)
  • “Best Bank” Award by Milford Times for 8 Consecutive Years (2018)
  • Jack Shubitowski (CEO) Selected "Citizen of the Year" by the Huron Valley Chamber of Commerce (January 2017)[33]

Branches[edit]

  • Milford Branch - 130 S. Milford Rd., Milford, Michigan 48381
    Milford Branch - 130 S. Milford Rd., Milford, Michigan 48381
  • Highland Branch - 2920 E. Highland Rd, Highland, Michigan 48356
    Highland Branch - 2920 E. Highland Rd, Highland, Michigan 48356
  • Financial Center - 1150 Corporate Office Dr. Ste 100, Milford, Michigan 48381
    Financial Center - 1150 Corporate Office Dr. Ste 100, Milford, Michigan 48381
  • Loan Center - 706 S. Main St., Plymouth, Michigan 48170
    Loan Center - 706 S. Main St., Plymouth, Michigan 48170

References[edit]

  1. ^ http://www.bing.com/maps/default.aspx?encType=1&where1=130+S+Milford+Rd%2c+Milford%2c+MI+48381&cp=42.581612~-83.611343&qpvt=130+milford+rd+milford+mi+483381&FORM=MIRE#bGlkPXluNDI4eDE3MzY2NjY4NQ== Milford Branch
  2. ^ https://www.linkedin.com/company/huron-valley-state-bank/
  3. ^ https://finance.yahoo.com/quote/hvlm/
  4. ^ https://banks.data.fdic.gov/bankfind-suite/bankfind/details/57990?activeStatus=0%20OR%201&bankfindLevelThreeView=Location&branchOffices=true&pageNumber=1&resultLimit=25&zip=48381
  5. ^ "Board Of Directors | Huron Valley State Bank". www.hvsb.com. Retrieved 2023-08-25.
  6. ^ Insured by the FDIC
  7. ^ "BankFind Suite". banks.data.fdic.gov. Retrieved 2023-09-05.
  8. ^ "Huron Valley State Bank". www.usbanklocations.com. Retrieved 2023-08-29.
  9. ^ Huron Valley State Bank Founded in 2005
  10. ^ "Directory". Huron Valley Chamber. Retrieved 2023-09-14.
  11. ^ "Member Directory". HWLBA. Retrieved 2023-09-14.
  12. ^ "Clarkston State Bank to open new Milford branch | Lake Orion Review". lakeorionreview.com. Retrieved 2023-08-29.
  13. ^ "A CONVERSATION WITH: Jack Shubitowski, Huron Valley State Bank". Crain's Detroit Business. 2014-05-23. Retrieved 2023-08-29.
  14. ^ "Waterford Bancorp, Inc. has acquired Clarkston Financial Corporation". Donnelly Penman. 2020-01-01. Retrieved 2023-09-19.
  15. ^ "Waterford Bancorp, Inc. Announces Agreement to Acquire Clarkston Financial Corporation". money.cnn.com. Retrieved 2023-09-19.
  16. ^ "Bing Maps". Bing Maps. Retrieved 2023-08-25.
  17. ^ "Huron Valley State Bank". 2008-03-07. Archived from the original on 2008-03-07. Retrieved 2023-08-25.
  18. ^ "BankFind Suite". banks.data.fdic.gov. Retrieved 2023-09-05.
  19. ^ "Flat Iron - Milford, MI - Odd-Shaped Buildings on Waymarking.com". www.waymarking.com. Retrieved 2023-08-29.
  20. ^ Main Street Loan Center Location
  21. ^ Bolyard, Laura (2018-08-15). "Huron Valley State Bank Financial Center Ribbon Cutting". Lakes Area Chamber of Commerce | Join Our Chamber and Grow Your Business. Retrieved 2023-09-14.
  22. ^ "Huron Valley State Bank, FINANCIAL CENTER". www.usbanklocations.com. Retrieved 2023-09-14.
  23. ^ "Huron Valley State Bank Opens Plymouth Loan Center Expanding Lending in Western Wayne County". Huron Valley State Bank. Retrieved 2023-08-29.
  24. ^ "Huron Valley State Bank Opens New ATM". Huron Valley State Bank. Retrieved 2023-08-29.
  25. ^ "Fire destroys Holden's Party Store in Milford". FOX 2 Detroit. 2015-09-02. Retrieved 2023-08-29.
  26. ^ "Huron Valley State Bank > Resources > Bank News > About Us". www.hvsb.com. Retrieved 2023-08-25.
  27. ^ "Tell Me More". BauerFinancial. Retrieved 2023-10-02.
  28. ^ "Huron Valley State Bank Earns Prestigious Financial Literacy Award". Huron Valley State Bank. Retrieved 2023-08-25.
  29. ^ "Huron Valley State Bank Once Again Named One of Metro Detroit's Best and Brightest Companies to Work For®". Huron Valley State Bank. Retrieved 2023-08-29.
  30. ^ Mancoci, Ana (2002-09-25). "Introducing the Winners - 2003 Metro Detroit Best and Brightest Companies To Work For". The Best and Brightest. Retrieved 2023-08-29.
  31. ^ "American Banker | Top banks under $2B: Leading small banks ride NIM strength". American Banker. 2023-06-12. Retrieved 2023-10-02.
  32. ^ Bromley, Susan. "In 2020 we needed good humans to Rise to the Occasion. In Huron Valley, these ones did". Observer and Eccentric Newspapers and Hometown Weeklies. Retrieved 2023-10-02.
  33. ^ Dargay, Sharon. "Huron Valley Chamber names annual award winners". Observer and Eccentric Newspapers and Hometown Weeklies. Retrieved 2023-08-25.
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