GRAND RAPIDS — Today is move-in day for more than 120 employees of Standard Federal Bank as the firm officially relocates its West Michigan headquarters to the Trust Building at 40 Pearl St. downtown.
The fifth, sixth and seventh floors of the Trust Building were renovated to house a number of the bank’s departments including commercial banking, commercial real estate, asset-based lending, business banking, private banking, investment management, personal trust, corporate and institutional trust, treasury management and public funds.
All told the bank will be using 35,550 square feet of the structure. That total will include a full-service branch which opens Aug. 4 on the building’s ground floor.
That event will come nearly a year after the company’s senior vice president, Dan Terpsma, announced that the firm was planning the move from 77 Monroe Center in the old Michigan National Bank building.
The bank branch will occupy part of the ground floor while the other departments will occupy all of the fifth, six and seventh floors.
At the time he announced the move, Terpsma also said that the bank has options for more space on the eighth and ninth floors as that space becomes available.
The firm said that the historic significance of the Trust Building was one factor in its decision to relocate there. The Trust Building has been listed on the National Register of Historic Places since 1983.
At the groundbreaking in 1897, the advent of structural steel was just making possible the erection of buildings more than three or four stories high.
In fact, structures such as the nine–story headquarters of the Michigan Trust Co. led to the invention of the term “skyscraper” which decades later came to apply only to giants like the Empire State Building and the Sears Tower.
The building not only was the tallest in Michigan at the time of its completion, but it also housed the first trust company in the state.
Standard Federal is based in Troy and is a subsidiary of a Dutch banking conglomerate, ABN AMRO North America Inc.