Location: 1700 S. Silverbrook Dr., West Bend
Website: www.commercestatebank.com
Year Founded: 2005
Product or Service offered: Full service commerial and consumer banking
Projected 2010 Revenue: $17 million
CEO: Joe Fazio, chairman, co-founder
Other key leadership members: Tom Hopp, president and co-founder; Dave Borchardt, COO, CFO and co-founder; Kevin Volm, executive vice president; Jennifer Backhaus, vice president of operations; David Clauff, vice president loan administration.
Target Clientele: Small and medium size businesses with loan needs of $500,000 to $5 million, homeowners and home buyers, depositors seeking unbeatable deposit rates on high balance CD’s and money market accounts.
Business Organization Memberships: Community Bankers of Wisconsin, Independent Community Bankers Association, Wisconsin Business Council, Wisconsin Bankers Association, American Bankers Association, MMAC
What has fueled your company’s growth?
“Staying focused on serving our clients and constantly seeking new clients. Maintaining a sales-oriented culture.”
What has been the biggest obstacle to your company’s growth?
“Capital requirements.”
Do you have any planned changes for your company in the coming months?
“We will continue to stay with our business focus which has served us well. Commerce State Bank will be opportunistic in seeking new clients and markets. We are growing our business and staffing in 2010.”
Who are the business people, locally or nationally, whom you admire? What traits do those people exhibit that make you admire them?
“We admire business people that operate with integrity, who understand the focus must be on their clients and prospects. Bill LaMacchia of Mark Travel Corp, Frank Martire of FIS/Metavante, Frank Jaehnert of Brady, Michael Eisner and Disney; and Sal Palmissano of IBM. I am sure there are more.”
What is the outlook for the business conditions of your industry over the next several months?
“The outlook for banking is turbulent. The challenging economy is causing business to struggle and slows loan demand. In addition, significant regulatory changes will have yet unknown impacts. However, we see tremendous opportunity despite the condition of the economy and industry.”
What has been your company’s key strategy for rising out of the recession?
“Selectively growing the Commerce State Bank client list and increasing our presence throughout Southeast Wisconsin. Regardless of the times, staying client focused is always the best way to strengthen your business. For 2010 we are experiencing increases in revenues, profits and margins.”
Congratulations from the strategic partners behind Commerce State Bank
(800) 822-6758
www.fisglobal.com
(414) 298-1000
www.reinhartlaw.com
