United Bank of Michigan plans to expand to the lakeshore market with the opening of a branch office next year in Holland.
The planned branch will go in the $28 million, five-story Towers on River mixed-use development on South River Avenue that’s now under construction. The office will become the Grand Rapids Township-based United Bank’s 13th office in West Michigan and first on the lakeshore.
Plans for the location come after United Bank previously opened a loan office in Holland in October 2019 that built a customer base.
The new full-service branch is a natural extension of the bank’s footprint to serve business and retail customers, said President and CEO Joe Manica.
“This will bring convenience to those customers, as well as the many area businesses and residents that value working with a local bank with roots in West Michigan,” Manica said in a statement.
United Bank will occupy the first floor and 60 percent of the second floor of the Towers on River building that’s under development by Towers on River LLC and Geerlings Development Co. Inc. Midwest Construction Group Inc. of Zeeland is the construction manager on the project and Integrated Architecture LLC of Kentwood designed the building.
The new Holland location — with the bank branch on the first floor, and commercial and mortgage lending and other services on the second floor — will open in the summer of 2022 as United Bank’s regional headquarters.
The bank could expand further in the lakeshore market with additional locations in the years ahead, said Connie Witcher, United’s senior vice president and chief marketing officer.
“We are always looking at that. Our long-term plan is definitely to grow and put new offices in for convenience,” Witcher said. “We’re kind of letting the environment in the local market drive that. It definitely is one of the areas we’ve just naturally grown into.”
United Bank of Michigan at the end of the first quarter had $803.6 million in total assets and total deposits of $656.4 million, according to a quarterly financial report to the FDIC. The bank recorded $4.1 million in first quarter net income.
United Bank presently has six offices in Kent County, four in Allegan County, one in Ottawa County, and one in Ionia County.