Bank of Luxemburg will open a new branch in Sturgeon Bay early in 2014. The new location will be the ninth for the bank and its first in Sturgeon Bay. This branch will meet the banking needs of the Sturgeon Bay area and provide extra convenience for local residents already using Bank of Luxemburg services. The new branch is conveniently located just off of State Highway 57 at 519 S. Lansing Avenue and will complement the nearest neighboring Bank of Luxemburg in Forestville.
Bank of Luxemburg began operation from downtown Luxemburg in 1903, providing services to Luxemburg and its surrounding communities. In 1987, the bank opened it first branch in the Dyckesville area and over the years has added branches in Green Bay, Casco and Algoma, mainly in offices previous operated and closed by larger banks.
Bank of Luxemburg President John Slatky stated, “We are not necessarily looking to expand, we just notice opportunities in communities that seem to be looking for an institution that is very community focused. Our employees live in the communities and participate in the community events, he explained. “When Greg Stephan was hired by the bank in March, we saw an opportunity to expand our presence in Door County.”
Greg Stephan, vice president of commercial lending for the new Sturgeon Bay location, brings many years of banking experience in Door County. Greg’s experience—along with the bank’s local loan approval process—will make Bank of Luxemburg an attractive option for both individuals and businesses in Sturgeon Bay.
When it comes to community banking loans, Slatky says it’s quite simple. “I like to remind our borrowers that they did not borrow the money from the bank, they borrowed it from their neighbors and friends,” he said. Individuals and business from the local community deposit money and invest in the local bank. The local bank then lends the money to other local individuals and businesses. “Our loan decisions are determined on whether it is good for our depositors, shareholder and local community,” Slatky concluded.
“I am very happy to be a part of a local community Bank,” Stephan proclaimed. “When I joined the Bank of Luxemburg staff I became aware of their many customers in Sturgeon Bay and the surrounding communities. All of these local customers make adding the Sturgeon Bay Office a natural extension and I am pleased to be a part of that staff. I hope my 40+ years of banking experience in Door County will help to serve the people of Door County. I invite everyone to stop into our newest banking office to see what a difference it makes to bank with us,” said Stephan.
Stephan will be joined by a full staff of knowledgeable banking professionals, some whom he’s worked with previously and many from the Sturgeon Bay area, such as Retail Sales Office Manager Barbara Pfeifer and Loan Sales Officer Leann Nguyen. Both have extensive banking experience in the Door County area.
Bank of Luxemburg offers full-service banking, including online banking and locally approved loans, to customers across northeast Wisconsin. Bank of Luxemburg places great importance on becoming an active part of the communities they serve through sponsorships, participation in events and a commitment to local growth.
For more information about the Sturgeon Bay location, stop in for a visit, call 920-743-5720, or go online to bankofluxemburg.com.