Bank of Montreal 2012 Annual Report Download - page 13
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10 BMO Financial Group 195th Annual Report 2012
The people who stand behind every
great bank have incredible power. Because
as customers they get the last word.
When it comes to spending, saving, borrowing and investing,
people count on banks to provide valuable expertise. Still, it’s
customers who have the final say on their finances. They want
a bank that helps them make better decisions without dictating,
and certainly never preaching. And they want to feel assured
that they’re making the right choices. In the end a successful
banking relationship hinges on this basic understanding:
customers have the power to choose where they want to go –
and expect a bank to give them confidence that they’re on
the best path to get there.
choose
The
to
power
Fromm Family Foods
In 2008, Wisconsin-based Fromm
Family Foods had been steadily
winning new markets for its
premium-quality pet foods. But
to meet demand, the fourth-
generation family-owned business
needed to expand manufacturing.
The bank’s U.S. commercial lending
team reviewed the business case
and quickly arranged $8 million in
financing for the purchase of a feed
mill and production equipment in
Columbus, Wisconsin. “We approved
the financing in June 2009, when
credit was tight,” recalls Steve
Gorzek, now a vice-president with
BMO Harris Bank. “But based on our
understanding of the business and
the character of the people who run
it, this was an easy decision.”
Since moving into the renovated
facility, Fromm has continued to
grow and revenues have nearly
tripled. “We’re able to continue
meeting production demands,
create new jobs for Wisconsin
workers and pursue research and
development,” says Tom Nieman,
Fromm’s president. “People
were skeptical, but I don’t think
I ever doubted we could do it.
You just need a bank that shares
your values. BMO Harris Bank
has helped us achieve our goals
and grow.”