GRBblog

June is National Homeownership Month — Dare to Own the Dream

Owning a home is a source of pride for an individual and creates stability and a sense of community. As we observe National Homeownership Month this June, it is crucial that the dream of home ownership remain an area of focus.

According to a White House proclamation issued in support of National Home Ownership Month, “During National Homeownership Month, we recommit to ensuring more of our people can reach for this fundamental piece of the American dream…This month’s theme, ‘Dare to Own the Dream,’ emphasizes the importance of ensuring borrowers have the ability to purchase a home that serves them and their families well.”

At GRB, we believe in the dream. We participate in a number of residential lending programs designed to assist buyers in finding financing options that meet their needs:

• Our First Home Club program provides a savings program for qualified borrowers that helps accumulate the funds for a down payment with matching grants and provides education sessions so buyers learn more about the basics of home ownership.
• We also work with the University of Rochester to provide matching funds as part of its University Home Ownership Incentive Program for U of R employees purchasing homes in the vicinity of the River Campus and Medical Center.
• GRB also provides government-backed loan options including FHA (low down payment), VA (active-duty military and veterans) and USDA (rural home purchases). These options put home ownership in reach for more people.

At GRB we are pleased to assist those who “Dare to Own the Dream.” Visit GRB Mortgage for more information or call us at 585.427.9200.

New GRB Headquarters Reflects Growth, Focus on Personal Touch

We are pleased to be featured in today’s edition of the Rochester Business Journal in an article discussing the move to our new headquarters. The article traces GRB’s growth from just 17 employees 13 years ago to more than 100 today. That growth could not have occurred without the dedication of our employees, partners and clients.

Even though banking transactions are increasingly conducted online, it is the relationship that remains critical for GRB and its clients.

“This is a relationship business, and as we hold loans we grow relationships and that has a snowball effect,” said GRB President and CEO Phil Pecora in the RBJ article.

Andrew Carpentier, president and owner of Rochester Magnet and a GRB client for six years, also reinforced the importance of the relationship in banking.

“It’s the personal touch,” Carpentier added. “They know our business inside and out…so we’re not some foreign entity to them or lost like you would be in a big bank.”

We are thrilled to be in our new location and we look forward to continued growth as we help local businesses leverage new opportunities, help homebuyers establish roots in our community, and help individuals and families secure their financial future.

Thank you, Rochester!

HTML Reference

GRB is proud to announce that it has been recognized as one of the “Best Companies to Work for in New York 2016” by the NYS chapter of the Society for Human Resource Management (SHRM). This year, we ranked 15 out of 45 in the small/medium size category, up one place from last year. The 2016 award marks our fourth year on the “Best Companies” list.

See the GRB feature in the Best Companies program: http://bit.ly/BestCoNY2016

Rankings in the annual program are chosen based on employee responses to the engagement and satisfaction survey, as well as the employer-provided benefits and policies questionnaire. The results are analyzed based on eight core focus areas:

1. Leadership and Planning
2. Corporate Culture and Communications
3. Role Satisfaction
4. Work Environment
5. Relationship with Supervisor
6. Training, Development and Resources
7. Pay and Benefits
8. Overall Engagement

It is no small feat to appear on this list year after year. So, to the members of the GRB team, a sincere thank you. This award is a testament to your ability to work together, provide our clients with stellar service, and help each other meet and exceed goals. You are The Best!

GRB is on the Move, Just in Time to Celebrate National Small Business Week

In a carefully executed plan involving no fewer than a million moving parts, GRB completed the move to its new corporate headquarters last weekend. We are up and running from our new location at 1850 South Winton Road in Brighton, just off I-590, and just in time to celebrate National Small Business Week (NSBW).

Sponsored by the Small Business Administration, NSBW celebrates the small businesses that create “nearly two-thirds of net new jobs in the U.S. and employ more than half of all Americans.” As a small business ourselves, this is what makes the move to our new headquarters so exciting. Our move means that our clients and partners here in the Rochester region are growing, too.

So, happy National Small Business Week to our clients, partners and all Rochester small businesses! You took a leap of faith and made your business dreams come true. You have grown, expanded your services and helped make the Rochester community a dynamic place to live, raise a family and do business. Your innovative spirit and hard work inspire us every day at GRB. Congratulations!

And if you’re in our new Winton Road neighborhood, stop by and visit us!

RIT Features GRB’s Robert Everhart in Article about Executive MBA Candidates Helping Local Business

Our local colleges serve as a remarkable resource for area businesses.

If you have any doubt about that, just ask Vance Metal Fabricators of Geneva, N.Y. Vance began working with Rochester Institute of Technology Executive MBA program candidate and GRB Mortgage Originator Robb Everhart to assess the company’s plans for expanding their product line in the brewing industry.

In a recent RIT feature article, the Executive MBA Capstone project submitted by Robb and “Team 3” advised Vance to forego becoming a “turn-key brew-house system” supplier and remain focused on the stainless steel fermenting and storage tanks for which the company was already well known. The key to the team’s recommendation was research that pointed to the craft brewing industry already nearing its growth peak and comprehensive analysis of the added effort needed for Vance to expand its capabilities and produce a turn-key brewing solution.

“The RIT team was great to work with and saved us lots of missteps and pitfalls,” noted Vance Marketing Manager Pat Farrington in the article.

Enterprises throughout the Rochester community regularly tap into the creative and strategic drive that students can bring to the table in the form of research projects and internships as they complete their coursework. As a community bank we see the future success of each and every local business as vital to the ongoing success of our community, so we remain committed to supporting our local education institutions — and matriculating employees.

We congratulate Robb on the completion of his Executive MBA and for being one of the reasons we continue to see dynamic growth in the Rochester business community.

Get the complete RIT article: http://bit.ly/1SwLIP4.

Survey Finds Small Banks are Lender of Choice for Small Businesses

This month, the Federal Reserve Banks released the 2015 “Small Business Credit Survey: Report on Employer Firms,” an annual survey of small businesses designed to provide insight into lending trends and track the needs of the small-business credit market. Key findings in this year’s survey include:

• Small banks are the lender of choice – Banks and lenders are the dominant advisory and credit channel. Firms that applied to small banks were the most successful and most satisfied with their borrowing experience. Small banks extended at least some of the financing requested to 76 percent of applicants. Large banks approved just 58 percent of applicants.
• Half of applicants received all the credit sought – 47 percent of respondents reported they had applied for financing in the past 12 months prior to the survey. Of these, 50 percent were approved for the full amount requested.
• Cash flow was the top business challenge for small firms – Almost 22 percent of small businesses reported cash flow as their top challenge (beating out even government regs and taxes).
• Online lenders are a common source of financing, but satisfaction levels are lowest – Overall, 20 percent of employer firms applied with an online lender. Among credit sources, online lenders had the second highest rate of approval at 71 percent, though approved firms were generally not very satisfied with their experience. In particular, these firms cited concerns with interest rates and unfavorable repayment terms.

As a small business itself, GRB understands these challenges and provides deposit and credit solutions to help the next generation of businesses in the Rochester community grow and succeed. Call us and find out how GRB can help!

Hats off to the Federal Reserve for understanding the importance of the small business community. This survey is an important benchmark for lenders and business owners alike. See the rest of the Federal Reserve survey data. There’s even a great video from the Federal Reserve’s survey director, Claire Kramer Mills.

GRB is Moving: Hours and Location Update

We are pleased to announce that as of May 2 Genesee Regional Bank will have completed the move to its new headquarters location at:

1850 South Winton Road
Rochester, NY 14618

We are planning the move over a weekend to minimize impact to our customers, but we are going to have shortened hours on Friday, April 29, with all locations closing at 3 p.m. This is the final day of business at 190 Linden Oaks. The shortened hours on April 29 will also mean we will be unable to process transactions that require manual review or approvals (i.e. wire transfers) during this time period. Please work with your GRB representatives to make arrangements for any needs you may have. You will still be able to access your online accounts.

Branch operations will resume regular hours on Monday, May 2 and the new headquarters location will be ready to serve you on Monday morning as well. We look forward to providing additional services at South Winton Road and will have a state-of-the-art ATM at that location that accepts multiple checks/bills.

Thank you for your understanding as we make these changes to serve you better. If you have any questions, please contact us at 585-249-1540.

GRB Named one of Rochester’s Top Workplaces for Second Year in a Row

GRB is pleased to once again be named one of Rochester’s “Top Workplaces.” So, first order of the day, a big “thank you” to the employees, partners and customers who helped make this happen for us. As a community bank, you are all an integral part of our success. Thank you.

We also want to say “congratulations” to the many GRB customers and partners who are also on this year’s Top Workplaces list. We are proud to work with you.

Finally, we take a significant amount of interest in this annual survey not only because it highlights local companies, but also because it provides valuable insight into what means the most to employees. A quick summary of points from this year’s survey:

Feeling genuinely appreciated was the single most important factor when evaluating their workplaces (70 percent)

Believing that the company is going in the right direction (68 percent)

Feeling like they are a part of something meaningful (66 percent)

Having confidence in the leader of the company (64 percent)

Feeling that the company enables its workers to operate at their full potential (64 percent)

It is our goal to make sure we create a culture at GRB that continues to build on these critical traits. There are so many opportunities for us to keep growing and helping the Rochester community with business banking, personal banking and residential mortgage needs. We are just getting started!

Thank you again to our employees, customers and partners for their support. You are all “Tops!”

Home Mortgage Interest Rates are Dropping: Take Advantage of the Trend by Refinancing

Since the beginning of 2016, rates have been trending down across the board for all major loan types: 30-year conventional fixed, 15-year fixed and even 5-year adjustable rate mortgage options.

Global economic weakness may be negatively impacting your stocks and other investments, but it’s also fueling lower home mortgage rates. Now is the time to invest in your home!

For new buyers, this could mean an exceptionally hot spring housing market. But for anyone with an existing home mortgage, the news is particularly good. When rates drop significantly, it’s a prime opportunity to consider refinancing your current home mortgage.

So why refinance? Lots of reasons.

Refinancing can lower your monthly mortgage payment, lower the interest you pay over the life of the loan, allow you to convert an adjustable rate mortgage to a fixed rate or even take some cash out to make home improvements.

The best part, it’s easy to find out whether refinancing makes sense for you. Contact one of our qualified mortgage originators at GRB Mortgage at (585) 427-9200 or via email. Find out what refinancing may look like for you by using our refinancing calculator.

Refinance and you can start 2016 off in a stronger financial position! But don’t delay…mortgage interest rates can be volatile. Call today!

Why Refinance Your Mortgage?

• Lower your monthly payment
• Lower the amount of interest owed over the life of your loan
• Convert an adjustable rate mortgage to one with a fixed rate
• Take cash out of the equity on your home for improvements or other investments
• Eliminate Private Mortgage Insurance (PMI)