#United States #Wealth Management #Ludington #West Shore Bank #Auto Club Trust

West Shore Bank Expands Its Wealth Management Services

On April 7, 2025, West Shore Bank, a reputable local bank based in Ludington, Michigan, announced the completion of its acquisition of the Wealth Management, Investment Advisory, and Trust services of Auto Club Trust, FSB. This all-cash transaction, effective March 31, 2025, marks a significant growth milestone for West Shore Bank, especially in its ongoing effort to strengthen its financial service offerings in Southeast Michigan.

While the financial specifics of this transaction remain undisclosed, the acquisition positions West Shore Bank to continue providing and enhancing wealth management services initially in Dearborn, Michigan. The bank's President and CEO, Raymond A. Biggs, expressed enthusiasm about the growth opportunities this acquisition presents. He highlighted West Shore Bank’s established wealth management team and its deep roots in local communities as essential contributors to their success.

A Commitment to Community Growth

In his statement, Biggs illustrated the significance of a personal approach in customer service that West Shore Bank champions. He mentioned, “We believe our personal approach to customer service is key to our success and has allowed us to grow with our customers and communities.” This ethos is set to be further integrated with the addition of Auto Club Trust’s clientele and staff, fostering a seamless transition and ensuring continued dedication to the existing customers.

Local community banks like West Shore Bank often provide personalized services that can sometimes be overshadowed by larger financial institutions, but this acquisition emphasizes their commitment to maintaining a local touch in all transactions.

Strong Advisory Team and Future Plans

With a robust wealth management team in place, West Shore Bank is well-positioned to cater to both existing and new clients post-acquisition. The emphasis on community engagement and customer-focused service will not only help in retaining Auto Club Trust's clients but also in attracting new business in the region. The strategic move is anticipated to enhance their market presence in wealth management and trust services significantly.

McQueen Financial Advisors played a crucial role as the financial advisor for West Shore Bank, while Warner Norcross + Judd LLP served as legal counsel, ensuring a smooth transition throughout the acquisition process.

Overview of West Shore Bank

West Shore Bank operates eleven locations across Michigan and has established a solid asset base, reporting approximately $768 million in total assets as of December 31, 2024. Their philosophy underscores the importance of local financial services, and with the new addition of the Auto Club Trust's Wealth Management business, the bank aims to strengthen its financial service capabilities across Southeast Michigan further.

As West Shore Bank integrates the operations and services of Auto Club Trust into their framework, the focus will remain on preserving the essence of community banking while also leveraging the best practices to enhance client relations and service delivery. In summary, this acquisition is not just about numbers but about building a stronger, more engaged community through shared financial success.

With its sights set on further growth and community engagement, West Shore Bank looks forward to welcoming new customers and building stronger relationships within Southeast Michigan. The future holds tremendous potential for their evolving Wealth Management, Investment Advisory, and Trust services, ensuring they remain a cornerstone of financial support for the community.