David Tull attributes his success in starting Crestmark
Bank to perseverance, risk-taking and a little bit of luck.
When Tull decided to launch his bank,
he faced several obstacles, including the
difficulty of obtaining a state charter.
Regulators were
skeptical of the
potential of a bank
exclusively focused
on factoring and
asset-based lending, specializing in
lending to small
businesses, start-ups
and undercapitalized companies, but he
ultimately prevailed, obtaining a state
charter and FDIC protection. As such,
Crestmark is held to the high standards
of commercial banks while specializing
in a niche that traditional banks tend to
ignore.
As an entrepreneur, Tull, chairman and
CEO of Crestmark Bank, says he
empathizes with others who have a
dream but are not financially equipped
to develop that dream and cannot
receive assistance from a traditional
bank. He finds satisfaction in knowing
that he and his talented staff can play a
pivotal role in helping clients realize
their goals and aspirations.
As Crestmark grows, Tull is continuing
to work on adding a new business segment focusing on financing legal claims.
He is also considering entering into a
partnership with community banks in an
effort to expand the bank’s clientele
base and to expose community banks to
a diverse group of clients.
Outside of the bank, Tull contributes to
the community in other ways, as director of the Music Hall Center for
Performing Arts and previously as director of the Detroit Historical Society.
HOW TO REACH: Crestmark Bank, (248) 267-1654 or
www.crestmark.com