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| The Settlers Bank |
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Overview:
Settlers Bank conducts business the old way: through personalized customer service with a commitment to the community.
We believe in meeting the needs of Marietta and surrounding area residents through friendly, customer-oriented services. At Settlers Bank, you conduct your business face-to-face with real people who are experienced professionals.
Since opening in 1999, we’ve continually introduced new products, maintained services that are important to the community and continued to thrive as a growing community bank. As other local banks in our area are gobbled up by larger financial institutions, Settlers Bank aims to define itself as a community-oriented bank with flexible and diverse financial products and services.
At Settlers Bank, we treat you – our neighbors – the way we’d want to be treated. |
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History:
In recent years, Marietta has seen local banks absorbed into larger regional financial institutions. In April 1992, The Dime Bank was sold to Commercial Bancshares of Parkersburg, W.Va. Six years later, Commercial Bancshares was sold to WesBanco of Wheeling, W.Va.
It was the strong opinion of seven former Dime Bank directors -- C. Fred Hunter Jr., Robert G. Kelly, James A. Meagle Jr., Richard A. Spindler, William C. Wigal, Dan Stephan Jr., and Neil R. Wynn -- that there was a need and a niche for a locally-owned and locally managed bank. Their goal was to create a bank that would offer more personalized services to customers and answer questions locally, not in some remote bank office in another state.
To demonstrate to Marietta residents their commitment to a new community bank, the group of former directors decided to construct a new bank facility. Meagle, who was chosen as the new bank’s president and CEO, and other directors began the search for an appropriate bank site in downtown Marietta. The group purchased the property at Third and Church streets under the umbrella of the limited liability company, Third Street Development Company, L.L.C.
In April 1998, work began on applications to establish Third Street Bancshares and the new bank -- named Settlers Bank -- with the Federal Reserve, Federal Deposit Insurance Corp. and the State of Ohio Division of Financial Institutions. At the same time, work began on applications to the Securities and Exchange Commission, the Ohio Division of Securities and the West Virginia Division of Securities to sell stock in Third Street Bancshares.
After 16 months, approval was received from the three regulators, $5.7 million in stock was sold, and the new Settlers Bank opened its doors on July 26, 1999. Since then, Settlers Bank’s growth and earnings have greatly exceeded its leaders’ expectations. |
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