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How can you judge a bank’s success?
Well, there are the usual markers: growth, profitability and stability in an ever-changing
But Platinum Bank’s successes are more tangible than spreadsheets. Their loans and deposits are visible in new businesses, revamped buildings, needed services and expanded employment all over the metro area.
“We don’t limit ourselves to a category or type of business we work with; they’re all over the map,” says Marc Cove, chief operating officer and one of Platinum’s founders.
The bank’s investments are being put into play at office buildings, cafes and senior-living complexes; production, manufacturing services ranging from trucking to electrical work, plumbing and home renovation.
Platinum is also the partner of choice for law firms, physicians’ accountants and dental clinics, as well as the solid financial foundation sought by many other businesses and industries within our community.
“Many are local; we have a big presence regionally, and some are in other states,” Cove adds. “And quite a few trade internationally.”
Although it’s expanding its commercial banking staff and has posted its best year ever since opening in 2007, Platinum takes on new opportunities carefully and wisely, and makes sure its most important clients — its current ones — come first. “People bank with us because they know our first and foremost priority is to take care of the customers we have,” Cove explains. “ That’s how we’ve earned their trust and confidence — and why they recommend us to others.”
Because it’s not enough to have a great concept or a fabulous skill set today. “The welder can’t just be good at welding and expect his or her independent business to succeed, and a great concept for a store or service alone isn’t enough anymore. There are too many outside factors that can make or break that business, and that’s where we can help.”
Platinum itself opened in 2007, a year that will be remembered in this century like 1929’s kickoff to the Great Depression in the last.
It was the bank’s sound business plan and staff’s wise judgment that built Platinum’s success from there.
“We’re a champion for business, and our greatest achievement is continuing to see our clients do well,” Cove says.