updated 4/18/2011 8:46:13 AM ET 2011-04-18T12:46:13

CLARKSTON, Mich., April 18, 2011 (GLOBE NEWSWIRE) -- The Oakland County Business Finance Corporation (OCBFC) named Clarkston State Bank as its 2010 Bank of the Year.

Clarkston Financial Corporation Logo

2010 Bank of the Year
Staff from Clarkston State Bank accepts their "2010 Bank of the Year" award. From left to right: J. Grant Smith, President and CEO, Clarkston State Bank; Rebecca McGovern, Assistant Vice President and Commercial Loan Officer, Clarkston State Bank; Nichole Smith, Vice President and Commercial Loan Officer, Clarkston State Bank; Nicole Thomson, Loan & Finance Officer, Oakland County Business Finance Corporation

A photo accompanying this release is available at http://www.globenewswire.com/newsroom/prs/?pkgid=9543

The selection is based on the number of loans that the bank participated in for the 2010 fiscal year, and in recognition of outstanding service and commitment to Oakland County and the Small Business Association (SBA) 504 loan program. Clarkston State Bank participated in 19 percent of the approved and funded loans with total project investment of $4.3 million and 64 jobs created and/or retained.

"Small business lending is a vital component of turning the economy around," said Oakland County Executive L. Brooks Patterson. "Clarkston State Bank deserves recognition for its outstanding support of small businesses in Oakland County."

The OCBFC presented the award to Clarkston State Bank at the annual SBA Lenders Conference held in Lansing in March.

"We've worked hard to provide financial support to businesses in our communities and are pleased to be recognized by the OCBFC as the top community bank SBA provider, "said J. Grant Smith, President and CEO of Clarkston State Bank. "We stayed committed to lending in our local markets during these challenging economic times and continually looked for opportunities - like the SBA 504 loan program - to provide money to our local businesses to help them grow and prosper." 

Clarkston State Bank ( www.clarkstonstatebank.com ) operates four offices in north Oakland County and is a wholly owned subsidiary of Clarkston Financial Corporation (OTCBB:CKFC), a holding company listed on the Over the Counter exchange.

The Clarkston Financial Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=8228

The OCBFC, authorized under the SBA's Certified Development Company program in 1982, was formed to stimulate the growth and expansion of the region's small businesses. The BFC also acts as an agent to analyze, package and submit loan requests under the SBA 504 loan program and is a servicing agent for the approved loans.

CONTACT: Grant Smith
         Clarkston State Bank
         (248) 922-6945

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved


Discussion comments


Most active discussions

  1. votes comments
  2. votes comments
  3. votes comments
  4. votes comments

Data: Latest rates in the US

Home equity rates View rates in your area
Home equity type Today +/- Chart
$30K HELOC FICO 3.79%
$30K home equity loan FICO 4.99%
$75K home equity loan FICO 4.69%
Credit card rates View more rates
Card type Today +/- Last Week
Low Interest Cards 13.83%
Cash Back Cards 17.80%
Rewards Cards 17.18%
Source: Bankrate.com