In This Issue



Milford Branch

130 S. Milford Rd

Milford, MI 48381



Highland Branch

2920 E. Highland Rd

Highland, MI 48356



 Loan Center

522 N. Main St., Ste. 100

Milford, MI 48381




Thank You For Naming Us Best Bank
Spinal Column: Best of The West Oakland County 
The Spinal Column recognized Huron Valley State Bank as the "Best of the West" in West Oakland County.  
*APY=Annual Percentage Yield. APY is effective February 13- March 31, 2015. $50 minimum to open. Maximum = $250,000 CD deposit per household. Early withdrawal penalties may apply. Terms and rates are subject to change at any time without notice.
From Our Customers 
"HVSB makes banking a great experience. The employees greet you by name and make you fresh cookies.  Its truly the hometown treatment. On becoming aware of the bank's solid star bank rating, we opened an account and would never change it up for many reasons. Wife especially loves the easy on-line banking and I am in training". -- Paul

"I opened my account close to a year ago.   In that time, I have found the bank on a whole to be very "refreshing".  All of the employees go an extra step to give excellent service.  I've had inquiries a few times, love the fact that a real person answers the call.  Although my inquiries have been on different topics, the employee answering the phone has been able to address the inquiry without me having to hold, be transferred, or made to feel that I taking up their time. I have recently moved to American House.  The convenience of a representative here a couple of times a month so the residents can transact their banking is a real help." -- An American House Resident 
Meet Your Bankers
Lisa Henning 
Lisa Henning joined the banking team in May of 2013 as a Senior Credit Analyst.  She works at the downtown Milford Loan Center.  "Although I call myself one of the behind the scenes employees, I have one of the best jobs in helping customers fulfill their dreams," said Lisa.  In her role, Lisa reviews the financial information for our customers and provides detailed analysis for new loan requests and existing loan renewals.  

Lisa has been in banking for over 30 years.  She started her career as a teller with National Bank of Detroit.   She has two sons.  One recently finished college and works in the automotive industry and the other currently attends college.  She enjoys  canoeing, kayaking, yoga, reading, and sewing.  Her ultimate vacation spot is close to home, as she loves the Lake Michigan sunsets.  

When asked what she enjoys best about working at Huron Valley State Bank, Lisa stated "The sense of community.  My co-workers care about the community and also genuinely care for one another.  This is like nothing I've experienced before.  I've always worked for very large corporate banks.  I like the change to community banking.   It's a wonderful place to work".
Mortgage Rates Do The Limbo
How Low Can They Go
By: Susan Bowen, Vice President-Mortgage Lending 
We have heard for months "mortgage rates are at an all time low," and "now is the best time to refinance."  True, rates have been on the decline, and are at their lowest point since July of 2013, but the difference is that we are operating in a whole different economy.  As consumers, we have been through an economic recession, witnessed the housing bubble burst in 2008, seen credit standards tighten, and witnessed dozens of mortgage lenders leave the industry.

In the Huron Valley area, property values are gradually increasing, which opens up a new market for people to refinance.  Many homeowners have not been able to pull money out of their homes since 2007.  Homes are back on the market, which combined with these low rates, helps many potential buyers purchase that new home.  Fannie Mae has reintroduced the 97% loan to value product, making it available on purchases and refinances.  This loan allows only a 3% down payment.  Homeowners that missed refinancing over the past year because they did not have enough equity in their home are getting another chance in 2015.

With these low rates, one of the biggest decisions to make when applying for a mortgage is determining when to lock in the rate.  The rate game is a gamble.  It can be a great rate today, but without a crystal ball, no one knows what will happen to that rate.  "If you are comfortable with the payment and terms of the mortgage that you have been quoted, we advise our customers to lock their rate in," advises Susan Bowen, Vice President-Mortgage Lending at Huron Valley State Bank.  Most lenders offer 30, 45 or 60 day rate lock periods.  When it comes to a rate lock, make sure that your lender has the ability to close your loan within this lock period, otherwise, there is a possibility that your rate could increase.  From a mortgage lender standpoint, this has been a very busy application season.  With the high demand of refinances and purchases, the application process is taking longer for many borrowers.  The large workload for processors and underwriters, coupled with wait for appraisals and title work can slow down the lending process.  As a word of caution, make sure that your lender can close your mortgage expediently within your chosen lock period.

When it comes to credit, everything is risk based.  Due to the previous mortgage crisis, today's standards are more stringent than they have been in previous years.  Your credit score is more important today, than ever.  The FICO mortgage score ranges between 300 and 850.  The higher your score is, the better opportunity you have to get the best rate available.  

According to Jeffrey Anderson, Custom Builder of Huron Valley Homes, "Overall, homeowners are ready to step up to a larger and or nicer home.  More owners want a custom built home which gives them a floor plan that meets their specific needs with the desired amenities".  Contributing to this demand is the low interest rate, confidence in the economy and reasonable prices on vacant land.  "This is the time to start the process as there is a shortage of skilled trades, materials prices are increasing and there is a shortage of some building materials."

To help navigate this process, a knowledgeable and trustworthy lender is essential.  Huron Valley State Bank (HVSB) is your local community bank.  Being local means, we understand this market intricately.  We live and work here, and know the ebbs and flows of the market.  With a simplified loan process and decisions made locally, qualified borrowers can usually get their mortgage closed in a reasonable period.  HVSB takes a consultative approach and will walk you through the benefits of each type of loan and how it relates to your equity position.  We talk with you about your goals and develop solutions to meet your individual needs.  For more information, contact our Mortgage Lending Department today at 248-387-6089 or email Susan Bowen (NMLS #165990) at  We also have after business and weekend hours available upon request.

An experienced builder is critical when considering a new construction.  Jeffrey Anderson is a Custom Builder of Huron Valley Homes.  He is a licensed builder with over 30 years experience, and owner of Huron Valley Homes for over five years.  He can be reached at 248-787-4292 or 
Johnson Elementary Bank at School Kicks Off
Huron Valley State Bank is pleased to announce the partnership with Johnson Elementary School for the "Bank At School" program. The bank opened for business on Friday, January 23rd after a Ribbon Cutting Ceremony at 9:15 am, and will operate the fourth Friday of every month from 9:13 - 9:30 am.  This is the second elementary school partnership for Huron Valley State Bank. 

Modeled after the Bank at School Program with Spring Mills Elementary formed in 2011, Johnson Elementary and Huron Valley State Bank will work together to teach students the importance of personal financial planning and the benefits of saving.   Fourth and fifth grade students wrote essays and interviewed for positions of tellers, marketing representatives and managers and were trained for their respective roles. The student bankers will assist their fellow students with their banking transactions and oversee operations at the deposit-only bank.  

Johnson Elementary is a certified Leader In Me, Covey School located in Milford.  Principal, Josh Gignac, and Lori Verbrugge, SVP of Retail Operations at Huron Valley State Bank custom built the program to meet the schools needs. "This ties right in with the Leader In Me Program," said Josh Gignac. "It teaches the students to be proactive and take initiative in planning for their future, along with learning crucial life skills.  Johnson looks forward to our continued relationship with Huron Valley State Bank."
The student bankers are as follows:  Benjamin William Mondrush (Branch Manager), Cavan Burpee (Assistant Branch Manager), Ian Reef (Assistant Branch Manager), JJ Venezia (Teller), Alivia Ray (Teller), Merisa Hammerschmidt (Teller), Jenna Hoppe (Teller), Kenna Morgan (Marketing Rep.), Ivory Collins (Marketing Rep), Allicyn Schultz (Marketing Rep), Lydia Mohr (Marketing Rep), Hatem Bamieh (Marketing Rep) and Lorenzo D'Abate (Marketing Rep).    

"Our school partnerships provide the hands on opportunity for students to learn the valuable skills of leadership, marketing and serving others. These programs lay the foundation for long-term financial relationships and help teach our youth real-life business values," said Jack Shubitowski, President and CEO of Huron Valley State Bank. 
 Did You Know?
The US $1 bill or a $10 bill will last for an average of eighteen months.  Five dollar bills last around fifteen months and twenties kick around for two years!