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4 new community banks to open this year

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Community Banks are jumping into high-growth mode. Four are scheduled to open this year--one each in Troy, Novi, Farmington Hills and Detroit.

Excerpt:

Donald Snider is president and CEO of Detroit-based Paper Plas Inc., a DaimlerChrysler supplier, and chairman of First Spirit Bancorp Inc.

He said years of frustrations with a variety of big banks with his current and past businesses he used to own a McDonald's franchise in Detroit and Kentucky Fried Chicken franchises in Illinois and Georgia convinced him that a community bank can fill a niche larger banks can't.

Read the entire article here.
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