The bank broke ground this week on a new bank branch on 22 Mile Road and Romeo Plank in Macomb Township and on 19 Mile Road and Dequindre in Sterling Heights. The bank will also open a branch in an assisted-living complex in Warren.
The new branches represent an investment of about $3 million. The bank now operates two branches in Warren and one in Clinton Township.
"With a growth path of roughly $90 million in assets a year, we need the extra branches," says Tom Bernasconi, president of the bank. "Our loan demand has been very heavy."
Warren Bank opened in late 1998 and now has about $475 million in assets. Bernasconi says opening branches in Macomb Township and northwest Sterling Heights was a logical move for the bank. "We're following the growth pattern of the area," he says.
Warren Bank employs about 70 people now and will be steadily adding until the new branches are open. Bernasconi says by the time the new branches open around the first of the year, the bank will employ close to 100.
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