Our Banking Team
About the President
Michael G. Sarafa is the President & CEO of Bank of Michigan. He and other investors organized the bank which opened its doors on Northwestern Highway in Farmington Hills in January of 2005. Prior to joining the bank as CEO, Sarafa served as Vice Chairman of the Board. In July of 2012, Sarafa successfully lead a capital raise that allowed Bank of Michigan to purchase the 51% of Bank of Michigan shares owned by Capitol Bancorp, a Lansing based community bank holding company. Under Sarafa’s leadership, the bank has successfully transitioned the bank’s backroom services through the edition of six full-time employees and newly negotiated professional service contracts. Bank of Michigan is now a fully independent community bank 100% owned by local shareholders. The bank is profitable, well capitalized and poised for growth.
In his capacity as CEO of the bank, Sarafa has overall responsibility for the leadership, risk management, operations, public relations and business development. He and the board have instituted a new 3 year strategic plan that contemplates additional organic growth as well as the focused harvesting of entrepreneurial opportunities.
Sarafa is a lawyer by training and a frequent columnist for the Chaldean News, a local, monthly publication. His career has spanned over 25 years in the public, non-profit and private sectors. He served as President of the Associate Food Dealers of Michigan, worked as a lawyer/lobbyist, served in the mayoral administration of Dennis W. Archer and as a legislative aide in the state capitol.
Sarafa received his J.D. from Wayne State University Law School in 1997 and his masters in Government Administration from the University of Pennsylvania, Fels Center of Government in 1993. He also holds a B.A. from James Madison College at Michigan State.
Sarafa serves on the boards of numerous civic and charitable organizations including Covenant House of Michigan, the Farmington Hills Economic Development Corporation and the St. Fabian Catholic School and Parish Finance Committee. He is also the Chairman of the Board of Youth Vision Solutions (YVS), a not-for-profit charter school management company that oversees three charter schools in the inner city.
Sarafa is married with three children.
Bank Personnel
| Bank of Michigan Officers | Title | Email Address |
|---|
| Jack Abbo | SVP Residential Lending | jack.abbo@bankofmi.com |
| Debbie Asteriou | VP - Controller | debby.asteriou@bankofmi.com |
| Barry Boozan | SVP SBA & Commercial Lending | barry.boozan@bankofmi.com |
| Cindy Jensen | Executive VP Commercial Lending | cindy.jensen@bankofmi.com |
| Jeff Karafa | Chief Operating & Financial Officer | jeff.karafa@bankofmi.com |
| Tom Linden | Executive VP & Chief Credit Officer | tom.linden@bankofmi.com |
| Lisa Lobb | Loan Operations Officer | lisa.lobb@bankofmi.com |
| Carrie Mika | SVP Business Development | carrie.mika@bankofmi.com |
| Susan Vettraino | BSA, Retail Ops & Risk Officer | susan.vettraino@bankofmi.com |