Spring Bank Names Mike Dermody Chief Credit Officer and VP
Brookfield, WI, August 19, 2016 – Spring Bank announced today that Mike Dermody has been promoted to chief credit officer and vice president. Dermody joined Spring Bank in 2010 as a senior financial analyst. He was later named team leader for the Credit Analyst group. Prior to his arrival at Spring Bank, Dermody served as a bank officer/credit analyst and a portfolio manager.
Since its founding eight years ago, Spring Bank has made nearly $200 million in commercial loans to privately held businesses. Further, the bank is on pace for a 10 percent increase in loan growth for 2016. These loans have provided funds used for lines of credit, to expand inventory and facilities, to invest in new equipment and to fund acquisitions. In addition, the bank has financed real estate for development and investment purposes. The bank also serves individual deposit and loan needs.
