News Articles


Date ArticleType
12/30/2016 Member News
Valley Financial Group, L.L.C. Approves Name Change For 1st State Bank

Rick Goedert, President & CEO


December 30, 2016

SAGINAW, MI The Board of Directors of Valley Financial Group, L.L.C., the holding company of 1st State Bank has approved a name change to 1st State Financial Ltd. 1st State Financial Ltd. is the holding company of 1st State Bank. With 1st State Bank’s name recognition in the Great Lakes Bay Region the Board desired the same positive recognition for the holding company and its stock.

In addition, the Board of Directors also approved a Dividend Reinvestment Program and a Self-Directed IRA option for shareholders, making it one of the few privately owned bank holding companies in Michigan to offer such plans to its shareholders.

1st State Bank, a locally owned and operated community bank was chartered in 2004 serving individual customers and specializing in business banking. It has four locations, two in Saginaw Township and two in Bay City Michigan. 1st State Bank has grown to over $225 million in assets.

President & CEO, Rick Goedert stated, “This growth is a direct result of our many customers and a clear vision of meeting the needs of our business community. We are appreciative of the confidence and support of our shareholders and look forward to future growth, as the bank continues to expand within our markets.”

Further investor information can be found on the company’s website at 1st or by contacting Rick Goedert at 989-596-0836.