First Michigan Bank Names Two New Executives

TROY, Mich., May 11 /PRNewswire/ -- First Michigan Bank announced today that Dennis Klaeser has been named Chief Financial Officer and Tom Brown has been named Chief Operating Officer, effective immediately.

"The last few weeks have been an exciting time for First Michigan Bank," said David T. Provost, Chairman, President and CEO of First Michigan Bank.  "We assumed the assets and deposits of CF Bancorp and are now announcing key executive assignments that will make us stronger than ever – with seasoned professionals who will help build Michigan's premier community bank."

Thomas Brown had served in the capacity of First Michigan's Chief Financial Officer.  He now assumes the position of Chief Operating Officer.

"Tom and I have worked together since we co-founded The Bank of Bloomfield Hills; he was instrumental in building First Michigan Bank and our most recent work with the FDIC," Provost said.

Prior to joining First Michigan Bancorp, Mr. Brown was Chief Financial Officer and Managing Director of The PrivateBank.  He also served as CFO and Senior Vice President of Bloomfield Hills Bancorp, Controller/Operations Officer at Republic Bank and in various capacities at MetroBank.

Dennis Klaeser assumes the position of Chief Financial Officer.

"Dennis is a great CFO," Mr. Provost said.  "He really knows the banking industry and has great experience with managing growth and organizational change.  Dennis also has a history of raising and managing capital from public and private investors."

Prior to joining First Michigan Bank, Mr. Klaeser was Senior Vice President and Senior Research Analyst at Raymond James.  From 2003 through 2009, he was CFO and Managing Director of Private Bancorp, Inc.

Mr. Provost concluded:  "We are thrilled that Tom Brown and Dennis Klaeser will be in key roles as First Michigan Bank works to re-ignite the growth in the State of Michigan."

About First Michigan Bancorp

First Michigan Bancorp, Inc. is a bank holding company headquartered in Troy, Michigan. Its wholly owned subsidiary, First Michigan Bank is a locally-operated financial institution that provides highly personalized financial services to individuals, professionals and their businesses. With its recent acquisition of Citizen's First Bank, First Michigan has twenty-three locations is southeast Michigan.  Long-term relationships are developed with clients by providing customized banking and investment solutions ideally suited to their evolving financial needs. Please visit our website at www.firstmichiganbank.com for additional information.

About David T. Provost

Twenty years ago David T. Provost realized his dream of building a bank.  In 1989, Mr. Provost co-founded Bloomfield Hills Bancorp., Inc., and its subsidiary, The Private Bank, formerly known as The Bank of Bloomfield Hills. He served as President and CEO of Bloomfield Hills Bancorp, and Chairman and CEO of The Private Bank. Mr. Provost is the immediate Past Chairman of the Board of Trustees of Alma College and is a member of their Executive Committee. He also serves on the Board of Directors and as Chairman of the Audit Committee for Plastipak Packaging, Inc. Mr. Provost resides in Birmingham, Michigan with his wife, Christine and their two children.

SOURCE First Michigan Bank

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