LOCATION: 1700 South Silverbrook Drive., West Bend, WI 53095
WEBSITE: www.commercestatebank.com
Year founded: 2005
Product or service offered: Commercial and retail banking services
Projected 2009 revenue: $15 million
CEO, President/Owner(s): Joe Fazio, chairman and CEO; Tom Hopp, president
Leadership team: Dave Borchardt, CFO/COO; Kevin Volm, executive vp; Jenny Backhaus, vp of operations; David Clauff, vp of loan administration
Target clientele: Small to medium size businesses, depositors seeking unbeatable rates on CD’s and MM’s, home mortgage and home equity line of credit borrowers.
Business organization memberships: Community Bankers of Wisconsin, Wisconsin Bankers Association, Independent Community Bankers of America, Wisconsin Business Council
What has fueled your company’s growth?
Staying outwardly focused on servicing the needs of clients and constantly seeking new clients.
What is the biggest obstacle to your company’s growth?
Raising capital to support continued growth.
Do you plan any changes in your company in the upcoming months?
In 2009 we opened a new home office facility in West Bend, a new location in Cedarburg, and are currently conducting a 3rd round capital raise. These activities along with focusing on the managing and growing the bank are keeping us very busy.
Who are the business people, locally or nationally, whom you admire? And what traits do those people exhibit that make you admire them?
We admire people with great integrity; those that commit to doing something, and then following through with their commitment. Those that are leaders, not merely managers. Leaders create a vision and then work to make the vision happen. They manage the business, and do not allow the stock market or the business to manage them. Their decisions are driven by what is good for the company, that which will make it stronger, not what is simply good for them personally. Those admired are Frank Martire of Metavante, Herb Kohler of Kohler Company, and Sal Palmissano of IBM.
What is the outlook for the business conditions of your industry over the next several months?
The business of banking is expected to continue to be a difficult with slowing loan demand and increases in non-performing loans.
What is your company’s key strategy for rising out of the recession?
Increase the number of clients we serve by constantly seeking new clients. Increase our capital base to be prepared for the next economic growth phase.Work with clients to help them make it through this down economic cycle to the next growth period, so they too can be stronger and prosper when the economy rebounds.
