Question 1

What is Settlers Bank?

Accepted Answer

Settlers Bank is an independent community bank headquartered in Marietta, Ohio, serving Washington County and the surrounding region. Founded in 1999, the bank operates as a state-chartered commercial bank and is a member of the Federal Reserve System.

With approximately $135 million in total assets and $112 million in deposits, Settlers Bank maintains a strong focus on personalized local banking services. The bank is FDIC-insured (Certificate #35060) and operates as a true community bank, emphasizing relationship-based banking over the impersonal approach of larger regional and national institutions.

Question 2

When was Settlers Bank founded?

Accepted Answer

Settlers Bank was founded on July 19, 1999, emerging from a specific need in the Marietta community for a locally owned and managed banking institution. Seven former directors of Dime Bank—James A. Meagle Jr., C. Fred Hunter Jr., Robert G. Kelly, Richard A. Spindler, William C. Wigal, Dan Stephan Jr., and Neil R. Wynn—joined together to launch this new enterprise.

James A. Meagle Jr. was chosen as the bank's first President and CEO. The founders' primary goal was to offer more personalized services to customers and ensure that questions could be answered locally, rather than through a remote office located out of state.

The bank was created in direct response to the trend of local banks in the area being continuously acquired by larger financial institutions. Since its inception, Settlers Bank has remained committed to maintaining its independence and local ownership structure.

Question 3

Where is Settlers Bank headquartered?

Accepted Answer

Settlers Bank is headquartered at 115 Third Street, Marietta, Ohio 45750. Marietta is located in Washington County in southeastern Ohio, situated along the Muskingum and Ohio Rivers.

The bank's single location serves as both its headquarters and main banking office, housing all operational functions including lending, deposit services, and administrative operations.

Question 4

Where does Settlers Bank operate?

Accepted Answer

Settlers Bank operates primarily in the Marietta, Ohio metropolitan area and serves Washington County and surrounding communities in southeastern Ohio. The bank maintains one full-service office located at its headquarters on Third Street in downtown Marietta.

Despite having a single physical location, the bank provides banking services to customers throughout the broader southeastern Ohio region. Its market focus remains centered on Washington County, where it has built strong community ties and local market presence over more than two decades of operation.

Question 5

What services does Settlers Bank offer?

Accepted Answer

Settlers Bank provides a comprehensive range of personal and business banking services tailored to meet community needs:

Personal Banking Services:
• Checking and savings accounts
• Money market accounts
• Individual Retirement Accounts (IRAs)
• Certificates of Deposit (CDs)
• Consumer lending including home mortgages, automobile loans, and personal loans
• Online banking services
• Mortgage, automobile loan, and retirement calculators

Business Banking Services:
• Business checking and savings accounts
• Commercial real estate lending
• Commercial and industrial loans
• Construction and development loans
• Business lending solutions

Investment and Financial Planning:
Settlers Bank partners with PrimeSolutions Securities, a member of FINRA (National Association of Securities Dealers) and SIPC (Securities Investor Protection Corporation), to offer investment products including:
• Common and preferred stocks
• Government and corporate bonds
• Annuities
• Mutual funds
• Retirement planning services

Digital Services:
The bank provides online banking platforms, loan application tools, and digital calculators to assist customers with financing decisions. The bank also emphasizes cybersecurity awareness and provides educational resources to help customers protect their financial information.

Question 6

What makes Settlers Bank unique?

Accepted Answer

Several distinctive features set Settlers Bank apart in the southeastern Ohio banking market:

Independent Local Ownership: Unlike many banks in the region that have been acquired by larger institutions, Settlers Bank has maintained its independence since 1999. The bank is locally owned and managed, with all decision-making occurring in Marietta rather than at a distant corporate headquarters.

Community-Focused Mission: The bank's stated mission is "to be the best source of banking products and service in the Washington County, Ohio area." This commitment to local service drives product development and customer relationships.

Personalized Service Philosophy: Settlers Bank emphasizes caring, professional, and personalized local service. Customers can speak directly with local decision-makers who understand the community and regional economic conditions.

Residential Lending Specialization: The bank maintains a notably higher concentration of 1-4 family residential loans (approximately 72% of its loan portfolio) compared to peer institutions, indicating a specialty focus in residential mortgage lending.

Strong Financial Performance: With a Return on Assets (ROA) of approximately 2.2% and Return on Equity (ROE) of 13.77%, the bank demonstrates solid profitability while maintaining conservative banking practices.

Extended Service Hours: The bank offers convenient hours including Saturday service, with drive-up hours extending to 6 PM on weekdays and 1 PM on Saturdays.

Question 7

What type of financial institution is Settlers Bank?

Accepted Answer

Settlers Bank is a state-chartered commercial bank that operates as a member of the Federal Reserve System. It is regulated by the Federal Reserve Board (FRB) and insured by the Federal Deposit Insurance Corporation (FDIC).

The bank is classified as a community bank, a designation that reflects its local ownership structure, community-focused operations, and relationship-based banking approach. Community banks like Settlers Bank typically serve specific geographic markets and emphasize personal relationships with customers and deep knowledge of local economic conditions.

As a commercial bank, Settlers Bank is authorized to accept deposits, make loans, and provide a full range of banking services to both individuals and businesses. The bank operates under a traditional community banking model that prioritizes local decision-making, personalized service, and long-term customer relationships over the standardized, process-driven approach common at larger regional and national banks.

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