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| Western Reserve Bank |
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History:
In early 1997, P.M. Jones, a lifelong Medina resident and businessman, was concerned. His leasing company and its customers were having problems receiving the kind of customer service they expected from the bank that they had dealt with for many years. The banking world had changed, and no longer was there any locally-owned, community-based bank in the area. He thought “there must be a better way”. So he contacted some of his friends and business associates, to see if they thought his “fantasy” of starting a new bank that would treat customers the old fashioned way was “crazy”.
Instead, they not only thought it was a good idea, they formed a company (Western Reserve Bancorp, Inc.) to explore the possibility. They applied to the Federal and State banking regulators for the necessary approvals, they hired a President (Ed McKeon), and set out to raise of $5,000,000 in capital. By July 1, 1998, they had raised $6,400,000 from 418 shareholders (over 300 were local residents). They had also been working to hire a staff, build our beautiful “world headquarters” at 4015 Medina Road, design products, services and systems, write policies, and do all the other things necessary to start a brand new bank.
On November 6, 1998, Western Reserve Bank opened its doors. The bank has been well-received by the community. It became profitable in its 16th month of operation, and has grown more quickly than any of the original projections.
The Bank’s philosophy is simple—hire the very best “people” people to provide an extreme level of customer service. This means no voice mail, no “ropes” in the lobby, free coffee and soft drinks in the parlor for everyone, fair pricing, fast decisions on loans, courier pick-ups for business deposits, and anything else we can do to provide great banking services to our communities.
Driven by the referrals of a loyal customer base, the Bank eclipsed all expectations and is now the second largest bank in the market. That market has 11 big banks competing for the business.
P.M. Jones’ “fantasy” may not have been that crazy of an idea after all. Thousands of customers who get the treatment that they deserve certainly don’t think so.
Western Reserve Bank
Brecksville
On October 4, 2004 our second location opened in Brecksville. A new landmark, complete with our trademark clock tower, has transformed the property at 8751 Brecksville Road. The bank occupies approximately 5,000 square feet and is the anchor tenant of the two-story, 11,000 square-foot professional building at the north end of the Brecksville business district.
Michael J. Gorman, a 30-year veteran of the financial service profession with extensive experience in private banking in Chicago and Cleveland, is the president of the bank. "The Western Reserve Bank of Brecksville incorporates a high touch approach to its clients," stated Gorman. "Extreme customer service is the guiding principle in everything we do."
"Our associates have the desire to provide consistently excellent service in a manner that furthers the goals of our individual clients," Gorman added. "The majority of our associates live in the Brecksville-Broadview Heights area and are significantly involved in community affairs."
Brecksville is a logical choice for our second location. Like Medina, it has a strong sense of community identity and an excellent deposit base. Local residents serve on an Advisory Board of Directors, providing direction for the bank. Western Reserve Bank has continued its' strong support of local charities in the Brecksville community.
The bank offers a full range of banking services to consumers as well as businesses, and provides a free courier service to pick up daily deposits from area businesses. Both online and telephone banking is available to consumers and businesses, and they also have access to a national network of surcharge-free ATM's. |
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