Supplied by Lake Superior State University…
SAULT STE. MARIE, Mich. – Old Mission Bank’s leadership team and
board members solidified a $125,000 gift towards the observation deck area at
the Lake Superior State University’s Center for Freshwater Research and
Education (CFRE). The observation deck will be known as the Old Mission
Bank Observation Deck.
“Old Mission Bank is such an important economic driver and leader in
our community. We are so grateful for their support of this top priority
project at Lake State,” said LSSU Foundation Executive Director Tom
Coates. “Their generosity has served as motivation for others to make a
commitment to our capital campaign.”
The Center for Freshwater Research and Education will be located on
the St. Marys River in Sault Ste. Marie, Mich. As the hub of aquatic freshwater
research, this state-of-the-art facility will provide educational opportunities
and economic development for the Eastern Upper Peninsula and surrounding
region.

“As a locally-owned community bank it is vital that we support
projects such as these that provide growth, opportunity, and long term
positive impact to our community and the Eastern Upper Peninsula,” stated
President and CEO of Old Mission Bank, Gary Sharp. “We believe the
CFRE’s location on our city’s waterfront combined with the educational
opportunities it will provide to LSSU and local students is going to make it a
unique destination for researchers, tourists, and community members resulting
in increased local economic impact related to these activities.”
Initially, the project was estimated to cost $12 million, where LSSU
would be required to raise 25% of the funds and the State would cover the
remaining amount for constructed-related costs. Outstanding progress has
been made toward the initial campaign goal of $3 million.
After extensive design work and planning, the project cost for CFRE
was determined to be $1.2 million more than the projected initial costs,
bringing the total cost to $13.2 million. The additional $1.2 million will be
raised by LSSU to meet the expected educational and research goals outlined
for the CFRE. To date, funds raised for the CFRE total $11.92 million or 90%
of the revised campaign goal, thanks to contributions from Old Mission Bank
and other generous donors.
Old Mission Bank is the operating entity of Old Mission Bancorp, Inc.,
a locally-owned and controlled single bank holding company, formed in 1999
by twelve local incorporators, eleven of whom continue to serve as Directors
of the bank and its holding company. The bank operates a main office in Sault
Ste. Marie, Mich., and a branch office in Pickford, Mich.