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Farmington Hills, Mich., August 1, 2006 – As part of its ongoing commitment to the diverse Ferndale community and surrounding areas, Paramount Bank today opens its newest branch in Ferndale, offering traditional bank products and the new Paramount Partners Line, which is exclusive to Paramount Bank.
“We chose to open a branch in Ferndale because we recognize it as being such a strong community that lacked a true community bank partner,” said Jeff Sugg, Paramount Bank president and CEO. “Paramount Bank is committed to redefining traditional banking to fulfill the needs of all members of the community. Since we are a locally owned and operated bank, we are in the unique position to be able to respond to these needs with our newly designed Paramount Partners Line.”
Paramount Bank executives worked closely with customers to design an additional product line that fills needs not being met by larger, more traditional banks. The progressive Paramount Partners Line offers couples in non-traditional relationships custom-designed Mortgages, Home Equity Loans, CDs, Money Market accounts and Small Business Loans.
“It was wonderful to have such a worry-free experience,” said Ferndale residents Leslie Thompson and Colleen Hamlin of their recent Paramount Partners mortgage acquisition process. “Paramount Bank Ferndale is the first mortgage lender that we have worked with that totally looked at our relationship on an even playing field.”
Paramount spent a substantial amount of resources renovating an existing building at 22635 Woodward Avenue. The 4,000 sq.-ft. full-service branch includes a drive-through ATM, commercial and mortgage lending departments, an investment department, and an innovative, customer friendly, personal banking approach not found in more formal banking environments. An additional commitment to Ferndale is the design and opening of Community Arts @ Paramount Gallery, which takes up one-third of the new Paramount Bank building.
“We are different from large, traditional banks in that we want to demonstrate our community commitment in ways that go far beyond just establishing a bank branch here. We believe our open and inviting branch, gallery, new product line, as well our current and future community involvement and investment will show Ferndale what a true community bank can be,” said Sugg. “A key component of the gallery’s idea was our consultation with leaders of Ferndale community groups who told us of the tremendous appreciation for art in this city, and the idea of Community Arts @ Paramount Gallery was born.”
Paramount Bank’s goal was that the resulting branch and gallery design should beautify an existing building for Ferndale, rather than change the city landscape with a new-built branch. The company brought in the renowned Ron Rea, of Ron and Roman Architects in Birmingham, Mich., to develop a dramatic, cosmopolitan-inspired space, full of urban interest and innovative, yet functional spaces. Paramount charged Rea with designing an art gallery first and bank branch second.
"Paramount bank officials actually had to push me to provide more gallery space. I was extremely impressed that the bank was willing to make such a commitment to the arts," says Rea. “And while, technically, the gallery 'space' measures out at 1,400 sq. feet, the majority of the building is designed to accommodate an overflowing art exhibit."
Community Arts @ Paramount Gallery will present dynamic exhibits by local artists and of local interest. The premier exhibit, “The Bus Stops Here” project, features the imaginative designs of Cranbrook Academy of Art graduate students who have redefined the often overlooked and under-appreciated bus stop and park bench. The project is a result of the collaborative efforts of Cranbrook Academy of Art and Design, Design Michigan, and the City of Ferndale who were committed to the concept of "Art in Public Places". Additional funding was provide by the Michigan Department of Transportation, the Ferndale Downtown Development Authority and the Michigan Council for Arts and Cultural Affairs.
“The goal of 'Art in Public Places' is to encourage more people to spend more time downtown - two hours as opposed to one. Having more people downtown, for longer periods of time is a benefit to the entire community,” says former Ferndale city manager Tom Barwin.
“The Bus Stops Here” works are on display at Community Arts @ Paramount Gallery, July 31-August 31, 2006, when they will then be placed in key locations in Ferndale along the Woodward and Nine Mile corridors.
Future curated exhibits planned include:
- August 8 – Mid-September, 2006 – “Cruiz’n” – Featuring the works of renowned local automotive artists Charlie Maher, Cliff McKillop and Bill Stinson.
- Mid-September – October 31, 2006 - Works by artists involved in the Paramount Bank Ferndale Fine Art and Food Festival will be featured.
Additional information on the Community Arts @ Paramount Gallery, its current, past and future exhibits can be found at the new micro-site at www.theparamountgallery.com.
“Our efforts are all part of the Paramount Bank goal to redefine traditional banking and provide big-bank products with small-bank service. At the local level, where Paramount operates, this means developing products that best meet the area's needs and becoming a true community partner," said Jeff Sugg, CEO of Paramount Bank. “We believe our open and inviting branch, gallery, new product line, as well our current and future community involvement and investment will show Ferndale what a true community bank can be. As a smaller bank, with all decisions made locally, we are in the unique position to do this, quickly and effectively."
Paramount Bank Mission
To deliver personalized, high-quality service coupled with flexible financial solutions to our customers, while meeting the long-term objectives of our financial stakeholders; providing a positive environment for our employees while at the same time promoting their professional growth; and contributing to the well-being of the communities we serve.
About Paramount Bank
Paramount Bank, founded in 1998, was established to serve the Oakland and Macomb County communities with financial products and services that meet the needs of today’s customer. Paramount offers a full-range of banking services including commercial and residential lending and currently has full-service branch locations in Birmingham, Clinton Township, Farmington Hills and Ferndale. For more information, visit www.paramountbank.com or call (800) 421-BANK.
Paramount Bank Ferndale
Paramount Bank Ferndale is located at 22635 Woodward Avenue, Ferndale, MI 48220. Bank hours are Monday through Friday 9:00 a.m. – 6:00 p.m., and Saturday 9:00 a.m. – noon. Phone number is (248) 414-6500.
For more information on Paramount Bank, please contact Christine Fisher :
cfisher@pushtwentytwo.com or call 248.335.9500x30
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