Huron Valley Financial grows staff 27 percent, eyes big acquisition targets

Ann Arbor-based Huron Valley Financial is poised to take a huge step forward this year through a potential large acquisition. "We have definitely grown," says Eric Bradley, president & CEO of Huron Valley Financial. "We added a branch in Clarkston in late 2010. In October, 2011, we have acquired Approved Mortgages in Canton. We worked with them in the 1990s so it made a lot of sense to acquire them. Both the acquisitions have propelled our growth." Huron Valley Financial is a full-service mortgage banking firm specializing in every area of mortgage lending, such as construction loans or refinancing. The 15-year-old firm employs 61 people and has grown its staff by 27 percent over the last year, including two recent hires. Bradley sees 2012 as a "watershed year" for Huron Valley Financial. The company has been looking at acquiring a couple of larger competitors. It was close to a deal last year but didn't move forward with it. Bradley thinks a similar acquisition is distinctly possible this year. "What we're finding is there are a lot of mortgage companies with a lot of loan office staff but they don't have the capital to effectively build the infrastructure and manage today's regulatory environment." Source: Eric Bradley, president & CEO of Huron Valley Financial Writer: Jon Zemke Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.