The Michigan Bankers Association (MBA) announces the election of J. Grant Smith, Michigan President, Waterford Bank N.A., as chairman of the Board of Directors.
“Grant is a talented business leader and an experienced board member,” stated T. Rann Paynter, MBA president and CEO. “Grant’s breadth of industry knowledge will be an essential asset and valuable resource to the MBA and our members.”
Smith joined Waterford Bank N.A. after a successful merger of Clarkston Financial Corporation and its wholly owned subsidiary Clarkston State Bank in January 2020 with Waterford Bancorp. Smith held the titles of president and chief executive officer since 2008 at Clarkston. Prior to being promoted to the corporation’s top executive position in 2008, Smith held the position of president and chief operating officer from 2004 to 2007. From 2001 to 2004, Smith held the position of chief financial officer. Smith was chosen by the Board of Directors to navigate the corporation through the difficult economic conditions during the great recession beginning in 2008.
“I am honored to have been elected by my peers to serve as MBA chairman,” Smith said. “I look forward to working closely with such a talented, respected group of officers and board members to ensure the Michigan Bankers Association remains a strong resource for the state’s banks, their customers and Michigan’s communities.”
During his first three years as president and CEO, Smith designed and implemented the turnaround plan for the bank which ultimately resulted in the recapitalization of the bank and post-recession achieved record profitability and performance results.
Smith’s success is credited to his strong analytic skills, board involvement and unilateral communication through all lines of business, including federal regulators. In addition, his regulatory experience with the U.S. Department of Treasury, Office of Thrift Supervision and PricewaterhouseCoopers “PWC” combined with his operational executive experience have been key components in the corporation’s successful survival during one of our country’s hardest economic times.
Smith received his B.B.A. in Finance and M.S. in Corporate Finance from Walsh College in Troy and is a graduate of Royal Oak’s Shrine High School. He is an alumnus of the FBI Citizens Academy, current board chairman of the MiBankPAC Board of Directors and chairman of the Board of Habitat for Humanity of Oakland County. He is also a resident member of the Detroit Athletic Club and Catawba Island Club.
The 2020-2021 Michigan Bankers Association executive committee includes in addition to Smith, Brad Kessel, chair-elect, president and CEO, Independent Bank; Jerome Schwind, treasurer, COO, Isabella Bank; Jeanne Richter, immediate past chairman, president and COO, Farmers State Bank of Munith; Rann Paynter, president and CEO, Michigan Bankers Association.
The Michigan Bankers Association, the voice of the banking industry since 1887, consists of Michigan financial institutions with more than 2,800 branches located throughout the state. For additional information, visit www.mibankers.com.
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