By Chuck Williams
Grand Rapids, Mich.
ROAA in 2015: 2.9 percent
ROAE in 2015: 32.65 percent
Assets: $460 million
Retail locations: Seven
Drive down any street in a small town, big city or suburban neighborhood and you’re likely to find dozens of credit unions, community banks and large financial institutions dotting the landscape. You’d have to look closely, though, to find us.
Northpointe Bank has avoided building multiple brick-and-mortar locations, choosing instead to invest our time, money and resources in technology and unique client-focused products. This strategy is paying off for us. With just seven office locations in three states, we serve clients in all 50 states. We are opening new loan and deposit accounts at a record pace and were recognized, for the third year in a row, as one of ICBA’s top-performing financial institutions.
For us, it’s about providing true value for our clients through our advanced mobile and online technology. Although we have locations and enjoy meeting in person, Northpointe Bank invests in the best technology so that customers can chat with us, bank or apply for a loan whenever is most convenient.
Our easy-to-navigate website, at www.northpointe.com, includes responsive design in order to easily view it from mobile devices. It allows our clients to search rates for all of our products and quickly access all of their accounts. Clients can check balances, pay bills and apply for loans. A live chat function was recently launched in order to better service clients in real time.
Northpointe Bank’s success also can be attributed to our value-added products. In December 2014, for example, we rolled out the UltimateAccount, one of the best checking accounts in the country. It pays one of the highest interest rates available.
This free checking account offers an impressive 5 percent Annual Percentage Yield with balances up to $5,000 and three simple qualifications. If these requirements aren’t met, the benefit is still a free checking account, without the fees that other banks charge. The product garnered attention from news outlets including CNBC and The Washington Post and continues to be popular with customers across the country.
Thanks to the UltimateAccout, we recently opened more checking accounts in a single day than we previously opened in any single month in the bank’s history.
Northpointe Bank also originates home loans. Thanks to an innovative loan program, it is our largest business with more than $1.7 billion in new loans last year alone.
Our plans for the future are to continue to offer true customer value with client-focused products and to be the most forward-thinking bank in the industry. We have innovative people in place who are constantly creating products and tools, with the customer at the center.
Chuck Williams is president and CEO of Northpointe Bank.