[Congressional Record Volume 152, Number 113 (Wednesday, September 13, 2006)]
[Extensions of Remarks]
[Page E1706]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                       TRIBUTE TO ROBERT L. COLE

                                 ______
                                 

                          HON. SANDER M. LEVIN

                              of michigan

                    in the house of representatives

                     Wednesday, September 13, 2006

  Mr. LEVIN. Mr. Speaker, I rise today to honor the career of Robert L. 
Cole upon his retirement as the president of Peoples State Bank located 
in Madison Heights, Michigan.
  Bob Cole has served as president of the Peoples State Bank for 10 
years during which time this community bank grew from $202 million in 
assets and 5 branches into a vibrant financial institution with $500 
million in assets and 12 branches in the southeast Michigan area.
  Under Mr. Cole's leadership, the bank has played a major role in the 
local community. When a fire destroyed the municipal garage of Madison 
Heights in 2003, the bank donated $5,000 for a portion of the destroyed 
equipment. The bank extended loans to non-profit organizations in the 
Detroit area assisting young people to obtain marketable work skills, 
provided loans to a non-profit community organization for building 
improvements to its Head Start program as well as donated over $100,000 
to various organizations that support affordable housing, low-income 
health care, food banks, homeless shelters, and small business 
development centers.
  Bob Cole's career tracks the development of community banking in 
Michigan. Born in Howell, Michigan, and raised on a family farm, he 
graduated from Western Michigan and went to work as a banker in Fenton. 
In 1974, he became president of the First National Bank of Fenton. In 
1987, he became president of the State Bank of Fenton and took it from 
$62 million in assets to $225 million. In 1996, he joined Peoples State 
Bank as president and CEO. In that role he modernized the institution, 
grew the bank into new communities, at the same time deepening the 
commitment of Peoples to serve the ethnic and small business markets of 
the Detroit Metropolitan area.
  Bob Cole was attracted to community banking because of his strong 
sense of community. His involvement includes: past president of the 
Fenton Chamber of Commerce, Kiwanis, board of governors of the Fenton 
Community Center, Fenton Community Foundation, Madison Heights and 
Hazel Park Chambers of Commerce, past president and board member of the 
Michigan County Bankers, member of the Michigan Association of 
Community Bankers, and the Michigan Bankers Association. He is a 
recipient of the City of Fenton ``Man of the Year'' award.
  Mr. Speaker, the residents of the 12th Congressional District have 
benefited from the leadership of Bob Cole in the field of community 
banking and I rise to pay tribute to his career and wish him good 
health and much happiness in his retirement.

                          ____________________