Charter One to be Homewood's New Bank

Homewood’s Village Board approved a contract during their April 12 meeting instating as their new village bank.

This decision comes over one month after a failed first attempt. During the March 9 meeting, Trustee Tom Kataras’ recent poor customer experience poisoned the effort.

This meeting, Kataras’ optimism deterred his skepticism.

“The relationship has got a ways to go,” Kataras said. “(But) it is just starting and nothing was built in a day, so I’m glad to give these fine folks a chance.”

Despite Kataras’ change of heart, Trustee Tienstra, who was absent during the last attempt, is pleased with the relationship that Homewood has with Great Lakes Bank, its current financial institution.

“(Great Lakes Bank has) been here forever and we have had no problems with them,” Tienstra said. “They’ve been great partners with us for years. I totally support Great Lakes”

Kataras responded to Tienstra’s “if it isn’t broke, don’t fix it” mentality.

“As times have changed, I think there are other opportunities for us and other banks that can do more,” Kataras said. “I just think that these folks have got the potential, they’ve got the resources, they’ve got the size; they can do things for us that a smaller bank cannot do.”

Trustee Anne Colton added her support.

“We are really looking for an economic partner; somebody who can help us to remain nimble… in a tricky economy,” Colton said. “It seems like ( has) everything. They’ve got the right stuff.”

beat out nine other Homewood banks in a lengthy application and interview process to qualify as the village’s future bank. Among the committee members to review the candidates were Mayor Rich Hofeld, Trustee Kataras and Director of Finance Dennis Bubenik. 

The motion passed with Trustee Tienstra casting the only “no” vote.