Since the holding companies of the bank merged April 2, and with a pending full merger sometime by October, ABN is now known as one of the top lenders in the state.
"We think that we've the second highest assets, with about $32.5 billion, in the state, and our deposits rank us first. However, with the commercial banking market, we're still only fourth or fifth," Hoppe says.
As a result, Hoppe said the bank has a lot of room to grow in Michigan. To start off, he said the company will boost the Standard Federal Bank commercial lending portfolio of $8 million.
"We hope to have a meaningful market share in Michigan, and we need to have commercial outstanding at $15 billion to $20 billion, that's what you see when you look at call reports of our competitors here. It will take some time and hard work, and we're willing to invest both," Hoppe tells GlobeSt.com.
He says the company, the 12th-largest financial institution in the world, is excited about the Michigan opportunities.
"We're going to be able to provide a few more products and services to commercial markets than the state-based institutions," he says.
These include lending to finance new construction, and purchase capital, he adds.
The company already has a bank with $51 billion in assets in Chicago that deals with primarily commercial transactions. That can be done in Metropolitan Detroit, Hoppe says.
"We can use some of the same things that allowed us to be successful in Chicago, there's not that much difference between there and here. Anyone with a serious Midwest strategy knows you have to be in both Michigan and Illinois, and our focus is to be a serious player in the Midwest," he says.
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