PODCAST: WHY ENTREBANK?

This week on #PoisedforExit, we caught up with Melissa Johnston, Co-Founder and Chief Credit Officer of EntreBank, a brand-new community bank, located in the Twin Cities. When we last interviewed her, EntreBank did not have an official name yet and their founders were working through the approval process with the appropriate governing bodies, which she will tell you was quite grueling. But that was then, and this is now!

EntreBank’s focus on privately held companies has an approach that focuses on both internal and external factors. Internally, they have been very diligent about hiring can-do team members who aren’t afraid to take on challenging projects and don’t get shook up if things take a bad turn; they’re wired to figure out a way to make it work and they’re motivated to grow the bank and succeed as a team. 

Externally, EntreBank focuses on acquiring customers who are looking for a banking relationship; something they can’t get with a big bank. Unfortunately, larger banks are not set up to work with small businesses who seek a true banking partner who can help them throughout their business life cycle. Melissa said getting to know the owners and their businesses is key to recognizing opportunities and pitfalls that could swing the business in one direction or the other.  This company will be one to watch and one to consider working with if you are a Twin Cities owned small business looking to align with a bank who is  innovative, knowledgeable and has the products and services you need now and will need in the future.