2013 | www.cbofm.org | Issue 6
Bill Broucek, Founder of Ann Arbor State Bank and Bank of Ann Arbor,
Named Best of Community Banking Award Winner for 2013. (Pictured on the right)
Judi Sullivan, President and CEO of Community Bankers of Michigan (CBM), has announced that Bill Broucek, founder and current executive chairman of Ann Arbor State Bank, will receive the Best of Community Banking Award for 2013.
“For 55 years, Bill Broucek has represented what is the best about community banking in Michigan,”Sullivan says. “Bill is a wonderful example of how a community banker can make a difference for customers and communities.”
Sullivan says the recognition and presentation of the award is planned during the Community Bankers of Michigan (CBM) Annual Convention and Trade Show, set for September 18-20 at the Grand Traverse Resort, near Traverse City.
“Receiving this award from the Community Bankers of Michigan is a great honor. I am so proud to be a community banker,” Broucek says.
Sullivan points to Broucek’s successful efforts organizing two successful banks in Southeast Michigan. He started Ann Arbor State Bank (AASB) in 2008 and served as its first chairman and CEO. He raised $12 million in capital, when only $10 million was required to get Ann Arbor State Bank up and running. The bank opened at the lowest point of the economic downturn in January 2009. AASB became profitable within the year. The bank now has assets over $190 million and just completed its most profitable quarter. In April 2013 Broucek was named the bank’s Executive Chairman.
In the mid ‘90s Broucek organized and started Bank of Ann Arbor (BOAA). He spearheaded the formation of the bank, writing its business plan, filing required start-up applications with the State of Michigan and FDIC, and raising $6 million in capital. Once he got the go ahead, Broucek guided the hiring of staff, writing policies, and developing products and services.
Bank of Ann Arbor opened in January 1996 and through 2004 Broucek directed the bank’s growth from 15 employees to 100, from one office location to five, with assets over $400 million. When he left in 2004, BOAA capital was $30 million, deposits stood at $350 million, and the bank recorded a $4.5 million profit that year.
“I have enjoyed every minute in the industry and the opportunity to work with many people,” Broucek says. “Community banking is helping people and you do that by listening to what is needed so that you can meet your customer’s needs.”
He believes community banking has a good future because of its long relationship in financing small businesses. “Small businesses are key to building the economy and community banks will continue their historic role keeping small businesses going.”
In addition, Broucek’s career highlights include:
At National Bank of Detroit from August 1958 to March 1967, he was a commercial lending officer in the Michigan Division and the International Division’s first International Lender in 1964.
At Ann Arbor Trust Company (now Key Bank) from March 1967 to January 1974, Broucek was Senior Vice President in charge of the Corporate Department. He then was responsible for filing the application with the State of Michigan FIB (now DIFS) and the FDIC that led to the conversion of Trust Charter to a Bank Charter, in August 1974. He then headed the bank division until 1987 when the bank was sold to Trust Corp. of Toledo, Ohio. At the time of the sale, the bank’s assets totaled approximately $550 million.
The complete article can be read or printed online.