Branch Manager Dave Wood
Morgan County Business Leader
By Elaine Whitesides
Family and home run deep through Bailey
and Wood Financial Group at the corner of Indiana and High Streets in Mooresville, and it’s not just because their specialty, residential mortgage lending, is centered on families and homes. With 13-years mortgage experience, D. Mike
Wood kept calling his father saying he wanted to start his own business. Finally, in 2003, Dave was nearing 32 years in the car sales industry and decided it was time to leave, so he retired. He laughs, explaining he had exactly one weekend
off before he went into the mortgage business with his son, who owns the company. His official title now is Mooresville branch manager, but he says he is just a dad helping his son. In reality, it goes a bit deeper. “I don’t think I could retire now. In the car business, it ended up being a job. I really enjoy this and working with Michael, dealing with Realtors and helping people get a home. Ninety-nine percent of the
time, it’s a good business to be in and I’m going to stick with it.”
The company name is another family story. It is a variation of Mike’s daughter’s name: Bailey Ann Wood. Dave says his eldest granddaughter loves being the namesake and voice on radio commercials, company phones and 12-year-old
star of a website video explaining the company’s services.
“When we first started out,” Dave says, “our goal was to have jobs and a couple of loan officers so everyone could work and make a decent living.” From three, Bailey and Wood Financial Group now employs more than 25 people at five offices in Whiteland, Mooresville, Shelbyville, Kokomo and Greenfield. There are plans to add more staff and expand into other areas of Indiana. “With the plan we had, it just kept ballooning out and getting bigger and bigger,” Dave says. At the last annual event in January where all the
employees, Realtors and other colleagues come together, Dave and Mike looked over the 200+ people in attendance and said, “Wow. This is great.” Much of their success, Dave feels, is because of the staff they have. “They’re great people dedicated to their jobs and are not afraid to work.” Gathered through word-of-mouth referrals and now, he says, “Our last three hires called us about jobs. They wanted to be a part of what we’re doing.”Part of what they are doing is providing convenience. Customers can reach staff members by cell phone at any time and the satellite offices provide everyone involved in the transaction anoffice close by. Use of technology has sped up the mortgage process to their average of 13.6 days from application to closing. “If you’re going to be in the business and be
successful, ”Dave opines, “you’ve got to offer the service. You do that by continually doing what you say you’ll do and backing it up with good people.” The recent housing and economic downturn did not catch them off guard. “We knew the refinance business was going to take a hit until some common sense took over,” Dave explains. “That’s
when we decided to work on building strong relationships with Realtors so people who want to buy homes can do that, and there are a lot of people out there who still want to buy homes.”
Mooresville is a good place for anyone wanting to start a business, Dave feels, based on hisexperience as a newcomer. He says, “I have met some really strong business people. You can tell they are dedicated to their jobs and they want to see Mooresville succeed. Several business people up and down the street will pop in and say, ‘Welcome to Mooresville. We want you to be successful and if you need anything, or we can help, just
let us know.’ “When we came over here, our main goal was to help not only Mooresville, but Morgan County. We wanted people to be able to buy a home and be part of a thriving community. It’s working out really well.” He says Bailey & Wood Financial Group intends on staying in Mooresville for a long time. In fact, he adds, “I’m excited to be here. I’m even considering making Morgan County my home.”
