Franklin Bank, N. A. Announces Appointment of Andrew Gavulic as Senior Vice President
Southfield, Michigan – March 11, 2004 (NasdaqNM:FBCP) Franklin Bancorp, Inc. (NASDAQNM: FBCP) and its operating subsidiary, Franklin Bank, N. A. headquartered in Southfield, Michigan, announce the appointment of Andrew P. Gavulic as the Senior Vice President Commercial Group Head of Genesee County for its new Grand Blanc Lending Center located at 8195 S. Saginaw Street, Suite A, Grand Blanc, Michigan 48439-1885.
“We are proud to have Andy head our Grand Blanc team. His experience owning and operating a small business, combined with his banking background, make him uniquely qualified to assist commercial customers with their financing needs”, stated Craig L. Johnson, President and Chief Executive Officer of Franklin Bancorp.
For the past four years, Mr. Gavulic has operated a successful Aamco Transmission franchise in Flint . Prior to that, he spent eight years with the former Old Kent Bank, now known as Fifth Third Bank, serving as Vice President, Commercial Loan Officer, and four years with Citizens Banking Corporation as a Commercial Loan Officer. Mr. Gavulic has a Bachelors and Masters of Business Administration from The University of Michigan - Flint .
As previously announced, Franklin Bancorp has entered into a definitive agreement to be acquired by First Place Financial Corporation (NASDAQ:FPFC), the holding company for First Place Bank headquartered in Warren , OH . Pending regulatory and shareholder approval, the merger is anticipated to close in the second quarter.
Franklin Bancorp serves as the holding company of Franklin Bank, National Association and is headquartered in Southfield , MI . Franklin Bank specializes in serving small and medium-sized business customers and their owners throughout the metropolitan Detroit area. Franklin Bank’s executive offices, Business Center and one regional branch are located in Southfield , with additional regional branches in Birmingham , Troy and Grosse Pointe Woods . Visit Franklin ’s website at http://www.franklinbank.com
###
The matters discussed in this press release contain forward-looking statements that involve risk and uncertainties. Words or phrases “will result,” “expect,” “are to,” “will continue,” “is anticipated,” “estimate,” “project,” or similar expressions are intended to identify “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Factors which could cause actual results to differ, include, but are not limited to, changes in interest rates and interest rate relationships; demand for products and services; the degree of competition by traditional and non-traditional competitors; changes in banking regulations; changes in tax laws; changes in prices, levies and assessments; the impact of technological advances and issues; governmental and regulatory policy changes; the outcomes of pending and future litigation and contingencies; trends in customer behavior as well as their ability to repay loans; changes in the national economy and changes in economic conditions of the Bank's market area and the other risks detailed from time to time in Franklin Bancorp's SEC reports, including Franklin Bancorp's report on Form 10-K for the year ended December 31, 2002 and quarterly reports on Form 10-Q. These forward-looking statements represent Franklin Bancorp's judgment as of the date of this report. Franklin Bancorp disclaims, however, any intent or obligation to update these forward-looking statements.