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David Provost of

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Telmer Bank & Trust

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Banking On
Fxpansion

New name reflects Talmer's
mission of community and service.

Bill Carroll
Special to the Jewish News

A

year ago, First Michigan Bank
had one branch, an office, and
32 employees. Now, it has 54
branches, a larger office (in Troy), 900
employees and a new name.
It's an amazing expansion story: How
two longtime friends combined their
business and financial acumen in 2007 to
operate Michigan's fifth-largest bank, with
more than $2 billion in assets.
Last month, the privately held First
Michigan Bank became Talmer Bank
and Trust, an unusual name for a bank,
"which is appropriate because we're a dif-

36

May 12 2011

ferent kind of a bank," said David Provost
of Birmingham, chairman, president and
CEO. Gary Torgow of Oak Park is chair-
man of Talmer Bancorp, the bank's hold-
ing company. Both men are in their 50s.
"We're two Midwestern men determined
to continue the legacies of our grandfa-
thers, two remarkable humanitarians who
never met:' explained Provost, "but they
shared a common purpose — enriching
the lives of people in their communities."
The "Tar part of the new name is for John
Van Neste Talmadge II, Provost's grandfather.
The "mer" is for M. Manuel Merzon, Torgow's
grandfather. "We literally scoured hundreds
of possible names before we came up with
Talmer, which fits just right:' said Provost.

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Talmadge, an ordained minister, per-
formed missionary work for 40 years in
Asia, helping create many schools and
places of worship. Merzon, who was well
known in the Jewish community, was a
lawyer who developed a lucrative financial
career, dedicating 50 years to improving the
lives of others.
Provost points out that his grandfather
"dedicated his entire working life to help-
ing those in need, including many young
people who otherwise would have had little
or no formal education or skills,"
Said Torgow, "My grandfather possessed
an extraordinary ability to help and advise
people, and donated much of his practice to
charitable causes!'
Provost describes Talmer Bank and Trust
as "a real community-oriented, full-service,
old-style bank; a relationship bank with an
unwavering commitment to building long-
term client relationships based on confi-
dence and trust.
"That's also why we put the words 'and
trust' in our name. It's a throwback to the
days when most banks had 'trust' in their
names to signify mutual trust and respect!'
Provost and Torgow felt they had to
change the bank's name because the
"Michigan" part of the name was conflict-
ing with the names of other financial
institutions in certain areas. "Our motto
is 'service, integrity and community, and
we didn't want to interfere with the names
of other banks in various communities,"
Provost explained.
The name change comes after the old First
Michigan Bank invested more than $200
million in an aggressive, year-long expansion
campaign, taking over several banks that were
failing or had failed. They acquired Citizens
First Bank of Port Huron, with 22 branches;
First Banking Center of Wisconsin, with 17
branches; Peoples State Bank of Hamtramck,
with 10 branches; and Community Central
Bank of Mt Clemens, with four branches.
Employees of these banks are now employees
of Talmer Bank & Trust.
"And believe me, these people were
happy to see us:' beamed Provost. "They
wanted no part of failing banks. They will
help carry out the relationship and trust
aspects of our philosophy. They know that
one of our goals is to re-ignite the growth
and development of their communities."
Another reason for the name change,
according to Provost, was not to have banks
in Wisconsin — Michigan's rival in col-
lege and pro sports — with the "Michigan"
name.
The Federal Deposit and Insurance Corp.
assisted First Michigan in the purchase of
the banks. "All depositors were protected
and it was a seamless transition:' said
Torgow."Despite this rapid growth, we will
maintain the same standards as the day our
bank first opened: using a common sense
approach to banking and providing person-
alized products and services!'

Bank Mergers
Provost and Torgow feel they're filling
the void between the smaller banks
that have sprung up in many communi-
ties and the large banks based out of
state, like Chase, Comerica and Bank of
America.
"But the day is coming soon when
most of these smaller banks will have to
consolidate in order to survive and be
successful," warned Provost. "The poor
economic conditions of the past few
years showed what can happen in any
business or industry.
"But our expansion demonstrates our
optimism for the state's future!'
Talmer's mortgage business is boom-
ing, with 90 employees working full time
handling home and business mortgages,
now divided about 50-50 between new
mortgages and refinancing previous
deals. "We've had about $2 billion in
mortgage sales in the past five years:'
said Provost.
Talmer inherited a number of home
and business foreclosures through the
expansion, but Provost sees the nation-
wide crisis easing a bit. "We can fix up
homes and sell them in the nice areas
of towns, but it's a lost cause in the run-
down neighborhoods," he said.
Provost honed his banking skills work-
ing 13 years at the former Manufacturers
National Bank and helped to start the
Bank of Bloomfield Hills (now the Private
Bank). He spent 18 years there, becoming
friendly with Torgow, who served on the
bank's board. Torgow formerly worked
for the Sterling Group in Detroit, a real
estate development firm.
Provost, a Mackinaw City native,
attended Alma College and got an MBA
from Eastern Michigan University.
Torgow attended Yeshivat Akiva and
Yeshivah University, and graduated from
Wayne State University's law school. He
is president of Yeshiva Beth Yehudah in
Southfield and Oak Park and is a vice
president of the Jewish Federation of
Metropolitan Detroit. He is affiliated with
Young Israel of Oak Park synagogue.
Provost received the Yeshiva's Golden
Torah Award for his personal assistance
and the bank's aid to Yeshiva students. "It
gives me great pleasure just to go there
and visit with the students," he said. "I'm
glad I can help out."
Talmer Bank and Trust has several
Jewish investors, and some Jewish mem-
bers on its 12-person internal board
of directors, including Max Berlin of
Southfield, Ron Klein and Bob Naftaly
of West Bloomfield and Arthur Weiss of
Farmington Hills.
"Board members come from com-
munities all around the Detroit area, and
that illustrates the strong community-
service aspect of our business," Provost
added. "We call it service north of the
highest level."