MADISON HEIGHTS, Mich., May 2, 2008 (PRIME NEWSWIRE) -- Peoples State Bank, (a subsidiary of PSB Group, Inc. (OTCBB:PSBG)), was recently named Community Lender of the Year and Business Development Lender of the Year by the U.S. Small Business Administration at the 10th Annual Michigan SBA Lenders' Conference in Lansing, MI.
Peoples State Bank earned recognition as Community Lender of the Year by having the best overall performance among Michigan-based non-PLP (Preferred Lender Program) lenders. Among factors taken into consideration were the bank's total SBA loan volume, new markets served, (minorities, women, and veterans), and comparisons with historical performance.
The bank achieved Business Development Lender of the Year status by having the largest percentage increase among lenders with at least ten approvals during the prior year. PSB accomplished an amazing increase of 550%.
Both awards were accepted on behalf of the bank by Denise M. Lotan, Vice President / Small Business & Consumer Sales Manager, Peoples State Bank's current SBA loan program coordinator; and Rosa Giovinazzo, Assistant Vice President / Senior Credit Analyst.
Peoples State Bank, a locally owned community bank founded in 1909, is a subsidiary of PSB Group, Inc., a bank holding company. The bank currently serves southeastern Michigan with 11 branch offices in Farmington Hills, Fenton, Grosse Pointe Woods, Hamtramck, Madison Heights, Southfield, Sterling Heights, Troy and Warren and two additional mortgage production offices in Ann Arbor and Howell.
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