By By JOHN EBY / Dowagiac Daily News
First National Bank of Three Rivers (FNB) will open a loan production office in downtown Dowagiac, President and CEO Richard E. Dyer announced Wednesday.
A loan production office will be located at 212 S. Front St. in the heart of central business district.
Alan Fricke's building formerly housed Scotty's Sub Shoppe.
The Dowagiac office, which will open in early September, will initially concentrate on commercial, small business, mortgage and retail investment activities, although the full range of financial products and services are offered and available through FNB.
According to Dyer, "The loan production office is anticipated to be our initial step into the Dowagiac market. We anticipate it being a temporary situation until expected growth within the market allows us to open a stand-alone full-service office."
Joseph L. Silvia, a lifelong Dowagiac resident and experienced community banker, joined FNB and will serve as Dowagiac market executive.
Silvia was born and raised in Dowagiac and is a graduate of Union High School and Southwestern Michigan Community College.
He has spent the past 18 years of his professional career in the banking industry, including 13 years at Community State Bank in Dowagiac (later known as FMB-Community Bank) and, most recently, at G. W. Jones Exchange Bank in Edwardsburg.
Silvia has been an active lender, manager and licensed investment representative during his banking career.
Prior to his banking career, Silvia was active for 13 years in various Dowagiac-area businesses.
Joining Silvia at the Dowagiac office in the near future will be an administrative assistant and a residential mortgage originator.
According to Silvia, "FNB is a consummate community banking organization.
We provide the full range of financial products and services, including
commercial, consumer, mortgage, trust and brokerage services while being
very active within our communities. Our board members, officers and
employees give of their time and talents to many organizations and
activities while the organization itself provides significant support to
local non-profit organizations, community events and community development efforts."
As far as why FNB choose to locate in Dowagiac, Dyer, a 1976 St. Joseph graduate who participated in Steve's Run last month, said, "Dowagiac is an attractive market, positioned nicely for continued success as a result of pro-active business development initiatives and healthy local businesses.
Serving on the Three Rivers Downtown Development Authority, Dyer said Dowagiac's progress is often held up for other communities to emulate.
The Dowagiac office is the second new location for FNB within the past year following an office in Niles that opened near the end of 2004.
FNB is a $142 million community bank headquartered in Three Rivers, where Dyer has been for four years.
The bank formed in 1864, making 2005 the 141st year of existence.
FNB is a wholly-owned subsidiary of FNB Financial Corp., a one-bank holding
company with approximately 375 shareholders located primarily within the
markets it serves.
In addition to the Dowagiac office, FNB has three offices in Three Rivers, plus offices in Niles, Centreville, Constantine and Mendon - although not in Sturgis in St. Joseph County.
Dyer said when he was with FMB, it was organized into 14 banks, of which Ray Moore was his counterpart in Dowagiac, while he headed up its financial institution in Fremont.