First Business Bank—Milwaukee has opened a new office in Kenosha, at 6633 Green Bay Road, Suite 2.
The office will follow the bank’s cashless model, through which clients complete transactions electronically with secure online baking, remote deposit and branch automation.
First Business Bank offers business banking, specialty finance and private wealth management tailored to the manufacturing, wholesale, distribution, professional services and commercial real estate industries. Its family of companies, under Madison-based First Business Financial Services Inc., has $1.3 billion in assets.
The Kenosha office will help First Business Bank-Milwaukee to leverage the lending power and ancillary services of the whole company.
Wes Ricchio will serve as president of the Kenosha office. He has 21 years of commercial lending experience, most recently as managing director and group manager of Wisconsin Commercial Lending for Talmer Bank and Trust. Robert Pieroni, also formerly of Talmer, will serve as vice president and business development officer, and Rebecca Rosenow will serve as client relationship specialist at the Kenosha office.
“We can lend significantly more per client than a typical startup bank, as well as offer the same services as much larger, national banks,” Ricchio said. “It’s much more efficient, and that efficiency gets passed along to the client in terms of price and the amount of attention we can provide to them.”
“We have identified small to medium-sized privately held companies as our target market so we can provide the service they deserve rather than trying to be everything to everybody,” Ricchio said. “The very small and startup businesses, or those with a lot of cash transactions, are typically not a good fit for us as their product and service needs are much different than what we are structured to provide.”