In a significant leadership development impacting both the healthcare and regional banking sectors, ProMedica has appointed Jim Hoffman as the new chair of its board of trustees. Hoffman previously served as the head of KeyBank's Michigan and Northwest Ohio district, bringing extensive financial and regional expertise to the Toledo-based nonprofit health system. He succeeds Kurt Darrow, who commenced his term as chair on January 1, 2025, and will remain a board member.
"I am honored to step into this role at such a pivotal time for the organization," Hoffman stated in a release. The leadership transition is not merely a routine change; it follows a notable credit rating improvement for ProMedica. In December, Moody's Investors Service elevated the system's rating to Baa3 and assigned a positive outlook, signaling strengthened financial stability and operational performance.
Strategic Moves in Business Banking
Simultaneously, KeyBank, the Cleveland-based financial institution, has announced the internal promotion of Garet Plantz to the position of small business relationship manager for Alaska. Based in Kenai, Plantz will be responsible for advising local business owners on a comprehensive suite of services, including deposit accounts, lending solutions, cash management, and merchant payment processing—critical functions for maintaining daily liquidity and operational cash flow.
Plantz is a seasoned professional with over 15 years of tenure at KeyBank. His prior role involved serving as a virtual business banker for clients across both Alaska and Washington state. His deep local knowledge and long-standing client relationships are viewed as key assets for the bank's competitive strategy in the region.
Competitive Landscape and Economic Context
Plantz enters a competitive Alaskan market for small business banking. He will face direct competition from established local lenders such as First National Bank Alaska and Northrim Bank, both of which actively market their small-business offerings. KeyBank maintains a physical presence with branches and private banking services in Anchorage and other parts of the state, aiming to leverage its national scale with a localized relationship model.
However, the broader environment for small businesses presents challenges. A KeyBank survey from September revealed that a quarter of small-business owners described themselves as being in "survival mode," highlighting ongoing economic pressures. This context makes the role of dedicated relationship managers like Plantz increasingly important for client retention and growth.
KeyBank, the primary banking subsidiary of KeyCorp, reported total assets of approximately $184 billion as of December 31, 2025. The bank has consistently emphasized its relationship-based approach as a core competitive advantage. Mike Walters, President of Business Banking at KeyBank, recently described this focus as "a true differentiator." The institution also highlights its long-standing status as an SBA Preferred Lender, a designation it has held for more than two decades.
Last month, KeyCorp announced it had received nine 2026 Coalition Greenwich Awards for excellence in both small-business and middle-market banking, with specific accolades tied to the performance of its relationship managers. These awards underscore the strategic importance the bank places on the roles now held by executives like Hoffman and Plantz, linking leadership success directly to client service quality and business development.
The dual announcements underscore a period of strategic positioning for both KeyBank and ProMedica. For the health system, securing a board chair with strong financial acumen aligns with its post-upgrade trajectory aimed at sustained stability. For KeyBank, reinforcing its leadership in key regional markets like Alaska is part of a broader strategy to deepen client relationships and capture market share in a competitive lending environment, even amid broader economic headwinds for small businesses.
