MINSTER — Community banks succeed when local economies thrive, and their success is interwoven with the consumers, communities, and small businesses they support. In 2022, key financial performance measures of return on average shareholders’ equity and return on average assets were 17.31% and 1.09%, respectively. Minster Bank saw 4.80% growth in our loan portfolio despite all Paycheck Protection Program loans forgiven by the Small Business Administration from pandemic relief measures. Minster Bank finished the year strong with a 9.81% increase in net income.

Dale Luebke, president and CEO, said, “With the significant increase in activity that we experienced this year, it would not have been possible without all of the hard work, dedication and perseverance of our employees to accommodate the needs of our customers. Our employees have done an outstanding job in serving the needs of our local communities.”

His report continues:

Through a relationship with your local bank, individuals and businesses can realize important economic benefits. Money being managed by Minster Bank is re-invested in the community through loans and other financial services for individuals, families, and small businesses. When you maintain a checking, savings, or other type of account with a community bank, you increase their ability to offer competitive mortgages and small business loans.

Minster Bank is actively involved in community service efforts, which can range from charitable donations and programs to sponsorship of local organizations and clubs. We continue to offer financial literacy programs to students with in-person and online programs available for students from kindergarten through 12th grades. Annually, over $15,000 in scholarships are awarded to local graduating seniors. Minster Bank believes in doing our part to help the future citizens of the communities we serve.

Minster Bank’s investment in technology benefited customers with convenience. Mobile and Online Banking usage increased as more customers found they could manage accounts, pay bills, deposit checks, and quickly send money to a friend or family member with Zelle at any time or place. MoneyPass provides surcharge-free access to over 35,000 ATMs nationwide. Remote Deposit Capture allows businesses to deposit checks from their place of business. We also continue to invest in protecting our customer’s information. Positive Pay was implemented and this service offers business customers a tool to mitigate check fraud. Minster Bank debit and Health Savings Account (HSA) cards can be used with a mobile wallet. Clover was introduced in 2022 to help business owners offer merchant services and accept credit card payments.

Our Private Wealth Management and Trust services continue to grow. We have developed a specialty in both personal and corporate retirement planning. Business owners and high net worth clients have benefitted from working with our professionals in the areas of business succession planning, Trust, and investment management.

Minster Bank, a local community bank, and is headquartered in Minster, Ohio. Offices are located in Minster, New Bremen, St. Marys, Sidney, Troy, Vandalia-Butler, and Wapakoneta. Visit MinsterBank.com to learn more about Minster Bank.