Holding company enters new Michigan market

Northwestern Financial Review, Aug 1-Aug 14, 2003

ICNB Financial Corporation, the holding company for Ionia County National Bank and Austin Mortgage Company, has entered the Grand Rapids, Mich., market with the opening of a loan production office.

The new loan production office will originate commercial and consumer loans, and residential real estate mortgages. The new office operates as ICNB Lending Services, Inc., a wholly-owned subsidiary of Ionia County National Bank.

"Grand Rapids is Michigan's second-largest city and a dynamic, growing market," said James Fast, ICNB president and CEO. "We have assembled an experienced team of local lenders to offer our unique brand of customer-focused lending. In addition, we benefit from synergy in that the new office is located near Austin Mortgage, our mortgage subsidiary. This step forward will help us to expand our market place within core competencies."

ICNB is a $180 million holding company.