Question 1

What is New Washington State Bank?

Accepted Answer

New Washington State Bank (NWSB) is a community-focused state bank serving Southern Indiana and the greater Louisville metropolitan area. With approximately $637 million in total assets and 11 branch locations, NWSB provides a full range of retail and commercial banking services throughout Clark County and surrounding communities. The bank operates under the brand name NWSB and emphasizes personal relationships with customers while offering modern digital banking solutions.

NWSB positions itself as a locally owned and operated community bank where all lending and operational decisions are made within Southern Indiana, allowing for responsive and personalized service.

Question 2

When was New Washington State Bank founded?

Accepted Answer

New Washington State Bank was founded on March 6, 1908, when the original bank opened its doors on Main Street in New Washington, Indiana. The bank was established by a group of ten prominent business leaders and farmers who recognized that New Washington and the surrounding farming communities would be better served by having a local bank.

These founding members sought to create a financial institution that understood the unique needs of rural communities and agricultural businesses in Southern Indiana. From its humble beginning as a single-branch operation serving farmers and local businesses, the bank has grown steadily over more than a century to become a significant regional community bank.

Question 3

Where is New Washington State Bank headquartered?

Accepted Answer

New Washington State Bank is headquartered in New Washington, Indiana, located in Clark County. The main office is situated at 402 East Main Street, New Washington, IN 47162.

The headquarters location reflects the bank's commitment to its founding community and serves as the hub for decision-making and operations across all branch locations.

Question 4

Where does New Washington State Bank operate?

Accepted Answer

NWSB operates exclusively in Southern Indiana, with 11 full-service branch locations concentrated in the Louisville-Jefferson County, KY-IN metropolitan statistical area. The bank maintains a strong presence across Clark County and neighboring communities.

Branch locations include:
• New Washington (headquarters)
• Henryville
• Charlestown
• Borden
• Jeffersonville (two locations: Youngstown Center and Spring Street)
• Sellersburg
• Scottsburg
• River Ridge
• New Albany

This strategic footprint allows NWSB to serve both rural farming communities and growing suburban areas within the greater Louisville region. The bank focuses on maintaining a local presence in each community it serves.

Question 5

What services does New Washington State Bank offer?

Accepted Answer

NWSB provides comprehensive banking services for both personal and business customers, blending traditional community banking with modern digital capabilities.

Personal Banking Services:
• Checking and savings accounts
• Max Market and high-yield savings accounts
• Certificates of Deposit (CDs) and Individual Retirement Accounts (IRAs)
• Home mortgages and home equity loans
• Personal loans and lines of credit
• Credit cards with rewards programs powered by BaZing

Business Banking Services:
• Business checking and savings accounts
• Commercial real estate financing
• Small business loans and lines of credit
• SBA 7(a) loans for business expansion and acquisition
• Equipment and vehicle financing
• Treasury management services
• Merchant payment services

Digital Banking Services:
• Online banking platform
• Mobile banking apps for iPhone and Android with mobile check deposit
• Bill pay services
• Digital account opening

In 2024, NWSB selected the Apiture Digital Banking Platform to modernize its online and mobile banking experience, consolidating from a multi-vendor strategy to a single, seamless platform for both consumer and business banking.

Question 6

What makes New Washington State Bank unique?

Accepted Answer

NWSB distinguishes itself through a balanced approach that combines small-town community banking values with sophisticated digital banking capabilities. Several factors set the bank apart:

Local Decision-Making: All lending decisions and operational matters are handled locally in Southern Indiana, enabling faster responses and personalized service compared to regional or national banks.

Rebranding for Growth: In 2015, the bank modified its brand to the initials "NWSB" to better reflect its expansion beyond New Washington into multiple communities. This rebrand coincided with enhanced technology offerings and improved accessibility.

Community Relationships: The bank's tagline, "Banking the Way You Want," reflects its commitment to offering both face-to-face personal service and cutting-edge digital tools. NWSB emphasizes that customers can choose their preferred banking method without sacrificing service quality.

Agricultural Heritage: With roots dating back to 1908 as a bank founded by farmers and business leaders, NWSB maintains strong ties to agricultural lending and understands the unique financial needs of farming communities.

Technology Investment: The 2024 implementation of the Apiture platform demonstrates NWSB's commitment to digital innovation, providing customers with integrated consumer and business banking, digital account opening, and data-driven engagement tools.

Question 7

What type of financial institution is New Washington State Bank?

Accepted Answer

New Washington State Bank is a State-Chartered Community Bank regulated by state banking authorities and insured by the Federal Deposit Insurance Corporation (FDIC).

As a community bank, NWSB focuses on relationship-based banking within a defined geographic market rather than pursuing national expansion. This institutional structure allows the bank to maintain local ownership and control while providing personalized service tailored to the specific needs of Southern Indiana communities. Community banks like NWSB typically emphasize small business lending, agricultural finance, and residential mortgages within their service areas, supporting local economic development and maintaining strong ties to the communities they serve.

The bank's state charter provides flexibility in operations while ensuring regulatory oversight and consumer protection through both state and federal banking regulations.

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