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| Additional information |
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| Portage Community Bank |
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Mission statement:
The mission statement of Portage Community Bank is to utilize ownership, decisions and people. This team will be dedicated to providing friendly, quality service as a full service bank for the business and personal banking needs of our customers. In everything we do, we will always take the extra step for our community. We view ourselves as “Neighbors Serving Neighbors.” |
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History:
Portage Community Bank was founded on July 1, 1998 by a group of local investors who wanted to take big business banking that large institutions provided and transform the way of doing business into a bank whose products and services were tailored to meet the needs of Portage County residents. Still locally owned and operated, founding CEO, Rick Coe along with founding executive officers, Kevin Lewis, Connie Bennett, John Forberg, Jim Shank and Jill Conard began the challenges of starting a bank. They wanted to get back to the basics of serving customers face to face – not over the telephone. With over 130 years in combined banking experience, their focus was to provide consumer lending, small business and commercial loans supplemented by consumer installment loans for cars and recreational vehicles as well as certificates of deposit, checking and savings accounts.
The site for their headquarters was the old H.R. Loomis home located at 1311 East Main Street in Ravenna, Ohio. This site, owned by Dewey Gates, was chosen because the home was inhabited by H.R. Loomis for over 60 years. Mr. Loomis, a Ravenna attorney, banker, industrialist and civic leader lived in the home until he died in 1971. This home stood and represented the essence of community tradition and involvement. After extensive renovations, Portage Community Bank Officers and staff of 5 welcomed the community to a ribbon cutting ceremony on July 1, 1998. At the first anniversary of their opening, Portage Community Bank celebrated one of their many milestones achieved in their first five years; a deposit base of $20,313,276.00.
By their 5th anniversary, with a deposit base of $108,248,159.00, Portage Community Bank had already begun strategic planning to expand. Now with over 30 employees, and not enough room in their present location to comfortably conduct business, it was decided to begin construction on a 4800 square foot Operations Building. Ground was broke and in August, 2005 the finance and operations departments moved across the bank campus to their new building.
Over the next few years, and an average deposit growth of $20,000,000.00 each year, it was decided to begin the process of expanding. After months of research, executive officers presented the Board of Directors and Shareholders a location for their first office. Ground was broke in late 2005 and on July 27, 2006, at 1530 South Water Street, Kent, Ohio; a ribbon was cut to celebrate the grand opening of their Kent Office. In March of the same year, Portage Community Bank also wanted to recognize those clients who were looking for alternative investment opportunities. Portage Community Financial Services opened for business. In May of 2007, Portage Community Bank began offering its client’s residential loan products.
In all the recognitions Portage Community Bank has received throughout the years their proudest moment was in August, 2008 when Bauerfinancial, Inc. awarded them a 4-star rating. The prestigious sign, located in each office lobby attributes 9 consecutive quarters as a recommended bank. It also states that Portage Community Bank is one of the strongest banks in the nation!
Now celebrating their 12th anniversary year, and a combined deposit base of $193,733,018.00, Portage Community Bank still serves their customers by the words of their mission statement: |
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