Physician Bank, An Exceptional Partner for All Financial Needs

Starting up a new health care clinic from scratch, Dr. Megan and Richard Dillman knew they would face some challenges, with a new construction project, new patients, new staff and new processes. One thing they didn’t have to worry about, though, was trusting their financial partner.

Dr. Megan Dillman is a double-boarded physician in internal medicine and pediatrics, while Richard is a phlebotomist and assists with running the on-site moderate complexity lab. The clinic, called MD 2 , is located in Lakeville, Minnesota.

The couple learned of Physician Bank when their home mortgage was transferred there, and soon discovered what other services the bank offers.

“As we planned the opening of our clinic, we encountered hidden expenses we weren’t prepared for and we discovered our needs were greater than we estimated,” Richard explains. “Physician Bank helped us put together the puzzle of our financial needs. We were connected with Scott Ogdahl, portfolio manager, and he helped us with a small business line of credit, increasing our marketing budget and allowing us to get our name and services out to a broader audience.”

Juanita Schmunk is vice president of private banking for Physician Bank, which is a division of Heritage Bank, NA, an award-winning national bank based in the Midwest. She says that they are partners with the physicians they work with, in both personal and business affairs.

“We assist them at every level and stage of their life and career, from their physician mortgage, partnership buy in, clinic build out, personal and  business accounts and more,” she explains. “Knowing we understand and support their goals matters to them. We also believe in having exceptional service, not making our doctors jump through hoops just to talk to someone. We provide direct one-on-one service when they need it, not just during ‘banker’s hours.’ That is putting our customers first.”

Having been open for nearly a year, Richard says Physician Bank has been fantastic to work with in every way. “They keep our finances in order to make sure we stay up and running,” he says. “Thanks to Physician Bank, we were able to continue operating as normal without eliminating essential vendors due to financial constraints.

“I have dealt with many other vendors in the past and it’s always been a tug of war in some way,” he continues. “Physician Bank has been a breath of fresh air to work with. We will always recommend them to other physicians who need help.”

The bank prides itself on personal relationships with its clients. “I enjoy getting to know all the doctors I work with is such a joy and privilege,” said Schmunk. “I enjoy being able to help them when they need it; most importantly, to hear how they are doing, the name of a new baby or updates to their home. I genuinely enjoy talking with them and look forward to our interactions.”  

“I will always recommend Physician Bank to other physicians,” says Dillman. “They are quick, fast, comprehensive, friendly and they listen to issues. I wish I would have known about them sooner.”

Physician Bank is Member FDIC and Equal Housing Lender. All loans are subject to credit approval.