State Savings Bank expands offerings in Suttons Bay | Business


SUTTONS BAY – After a year of operation as a lending center in downtown Suttons Bay, State Savings Bank has expanded its offering.

Adjacent to the Bay Theater, State Savings Bank has launched full service banking at its Suttons Bay office, 212 N. St. Joesph St.

The Suttons Bay office added personal and business banking services to the location, which opened as a commercial and consumer lending center in February 2021.

“When you open a lending center in an area, you see what the demand is,” said Doug Zernow, chief marketing officer for State Savings Bank. “After the loan center opened, you could tell there was a real demand for a community bank.

“You could see early on that this was a direction it was going to take.”

The Suttons Bay office is managed by Theresa Forrest, who joined the financial institution in December as a manager and consumer loans officer. Forrest is joined at the lending center by Brayton Farr, a mortgage originator with State Savings since March 2020, and Jim Sanford, senior vice president of commercial lending since February 2021.


Eric Coles, Retail Manager, is new to State Savings Bank in Suttons Bay.

A graduate of the University of North Carolina at Pembroke, Coles has 13 years of industry experience, eight of them in retail banking.

Bank opening hours are Monday to Thursday 9 a.m. to 4 p.m. and Friday 9 a.m. to 5 p.m.

Suttons Bay Loan Center will be open weekdays from 8:30 a.m. to 5 p.m.

The office number is (231) 866-4601. More information is also available at

The State Savings Bank was established in 1901 in Frankfurt.

Based in Frankfurt at 703 Main St., State Savings Bank has an office in Traverse City at 414 E. Front St.

It also has offices in Empire (11470 S. Leelanau Highway), Beulah (49 Benzie Blvd.) and Gaylord (126 E. Main St.).

State Savings also has loan centers in Traverse City, Frankfort, Big Rapids, Caro and Houghton Lake. Zernow said State Savings Bank handles its own consumer and business loans.

More information about State Savings Bank is available at


Comments are closed.