March 30, 2020
The State Bank today announced a sweeping set of initiatives to support its consumer and business customers and communities as they face mounting financial challenges due to the COVID-19 pandemic.
“Throughout our history, we have been known for helping our customers, business owners and communities look past obstacles and see what’s possible,” said Ron Justice, President and CEO of The State Bank. “But these are unprecedented times and call for extraordinary measures. As a community business and neighbors ourselves, when it’s in our power to do something, we have the responsibility to step up and take action.”
Beginning today, consumers and businesses in the markets served by The State Bank can find temporary relief and expert advice and assistance to help offset the financial impact of the COVID-19 pandemic. Key components of The State Bank’s relief measures include:
- Access to an interest-free emergency loan of up to $1,000, with no payments due for 90 days and a 12-month repayment period
- A community support program where people in financial need can be nominated by family or neighbors to receive one of 10 checks of $250 paid daily between April 6th and May 1st, 2020
- Payment deferrals of up to 90 days or interest-only payments up to 180 days for all Small Business Association and commercial loans
- Relief from everyday banking and credit card fees
- Payment deferrals on mortgages and consumer loans
- Access by appointment, seven-days-a-week, to Wealth Management, Retirement, and Commercial Banking officers, to discuss longer-term financial strategies and the assistance available through Federal and State relief programs
To learn more about The State Bank’s initiatives, please visit: yourbetterstate.com
About Fentura Financial and The State Bank – Fentura Financial is the holding company for The State Bank. It was formed in 1987 and is traded on the OTCQX exchange under the symbol FETM. The State Bank is a full-service, 5-star Bauer Financial-rated commercial, retail and trust bank, based in Fenton, MI. It has assets of $950 million and currently operates 15 full-service offices in Genesee, Livingston, Oakland, Saginaw and Shiawassee counties and loan production offices in Washtenaw and Saginaw counties. The State Bank believes in the potential of banking to help create better lives, better businesses, and better communities, and works to achieve this through its full array of consumer, mortgage, SBA, commercial and wealth management banking and advisory services, together with philanthropic and volunteer support to organizations and groups within the communities it serves.