This year’s late ice-out in northern Minnesota generated a bit more pent-up demand for all things water-related. Owner Mike Holmstrom learned the business from his father, and he knows that ice-out cycles come and go. The key is to be patient and prepared for customers walking through the door.
“My father purchased Mornes Marine in 1978 and I purchased the business from him in 2016,” explained Mike. “Over the years we’ve grown, and we like to consider ourselves the boating headquarters for northern Minnesota. We’ve seen early ice-outs and late ice-outs, but we know that soft water will be with us at least seven months a year.”
Grand Rapids Marine is a full-service marine dealership with an extensive line of marine parts and accessories, boat and pontoon rentals, as well as docks and boat lift sales. They also boast an award-winning service department that provides detailing and storage facilities.
“My father wouldn’t have been able to make the dream of buying this business come true back in 1978 if it wasn’t for Clair Wilcox and Grand Rapids State Bank offering a character loan,” Mike explained. “When my father didn’t have the resources to work with just any bank, GRSB had faith in him. With hard work and determination, he demonstrated he was deserving of the bank’s trust in him.”
As Mike assumed leadership of the business, he maintained the relationship with the bank. “I’ve been with the bank since I was a little boy, and now my son has opened an account there, too,” Mike added. “He even gets birthday cards sent to him!”
Besides appreciating the longevity of the banking relationship, Mike values the role Grand Rapids State Bank plays in the community, particularly the bank’s donations to facilities like the neighborhood park just a few blocks away from his business and larger community organizations like the Reif Center.
“A community bank is important because they support local businesses simply by loaning money,” said Mike. “They help people start up new businesses and grow existing businesses, and that helps make the community stronger.”