By Don Mecoy
The Oklahoman
A national bank development company has joined with a local
banker to open a locally managed bank in Norman later this year
called Sunrise Bank of Norman.
Local banker Clayton L. Harman will be bank president. He is
leading the effort to identify and communicate with local
investors.
Capitol Bancorp Ltd., a $1.4 billion bank development company,
provided 51 percent of the investment. Local investors will provide
the remainder of the $8 million in capitalization, Harman said.
"We'd love all we can take," Harman said. "But the more you get the
more difficult it is to get a return for your investors. You have
to have an optimal amount of capital to really make the bank
function and provide a good return for investors and shareholders,"
Harman said.
Organizers are hoping to turn a profit within three years, Harman
said.
"The market is going to dictate a lot of that, whether interest
rates stay stable and whether more competition comes to the
market," he said. "First and foremost we want to ensure our
investors' money is safe."
The bank plans to target local business people and professionals as
customers, Harman said. Potential customers include "any
independently owned private business — small-business owners.
We'd like to deal with mom-and-pop type businesses," he said. The
bank also wants to serve professionals such as doctors, lawyers,
attorneys and teachers.
Sunrise Bank is seeking a state charter, Harman said. Two metro
area banks — Valliance Bank and New Liberty Bank, both in
Oklahoma City — have been granted new charters in the past
three years.
Republic Bank & Trust in Norman is the only bank based in
Norman, although many banks with headquarters in and out of the
state operate Norman offices, Harman said.
"Local ownership, local board of directors and local management is
what is the genesis behind this," Harman said. The current staff
includes Steve McDaniel, chief credit officer, and Connie Moren,
executive assistant.
Capitol Bancorp, with 51 separately chartered banks in 14 states,
holds more individual bank charters than any other U.S. company,
spokesman John C. Ashe said.
Ashe said the company, based in Michigan and Arizona, handles
much of the back-office work for banks in its network, each of
which is led by local officers. Major local investors will join the
bank's board, Ashe said.
Capitol Bancorp's strategy of recruiting local veteran bankers who
already have local business relationships allows new ventures to
turn profitable quickly, Ashe said.
Harman has 25 years experience in financial services with a focus
on commercial, real estate and private banking, most recently at
Republic Bank & Trust in Norman.
Harman began his banking career at Cashion Community Bank. Other
experience includes assignments in retail banking at RCB Bank in
Claremore and in commercial banking at Boatmen's First National
Bank in Tulsa and Union National Bank in Chandler.
"The catalyst behind the decision to launch a new community bank is
the opportunity to ensure that this business community has access
to credit at the local level, delivered by local bankers," Harman
said. "I have worked in and for this community for the past seven
years, and I want to be an integral part of ensuring its economic
health and vitality."
Copyright 2007, The Oklahoma Publishing Company
