Osgood Bank employees held a tailgate party at a Marion Local football game in 2023.
OSGOOD — In a significant milestone, Osgood Bank has surpassed $400 million in assets for the first time, marking a noteworthy achievement. This substantial growth highlights a continued commitment to Osgood Bank’s customers, employees, communities and shareholders.
Company officials have released the following report:
Beyond the financial milestone, Osgood Bank has maintained its dedication to community service by actively supporting nonprofits and community organizations. In Shelby County specifically, a rotation of seven Osgood team members taught financial literacy at the Mercy Mission House monthly. Additionally, significant contributions were made to SAFY (foster care) and the Shelby County Senior Center. Throughout all the bank’s communities, aid was provided to over 100 families coping with illnesses, surgeries, recovery, funeral expenses, memorials, weather related damages, house fires, and Christmas presents. Food, monetary donations, juice box drinks, backpacks, and personal hygiene items were provided to local schools. The Osgood Foundation, which exclusively supports giving to non-profits, supported youth sports, parks, Special Olympics, food banks, housing assistance, hospice, cancer centers, schools, colleges, county fairgrounds, hospitals and first responders.
From a strategic perspective, the bank continues to combine a unique mix of community banking services via branches in Shelby, Darke, Mercer and Logan counties with niche business lines nationally. Locally, the bank’s team offers high-touch deposit and lending services for consumers as well as small-to-mid sized commercial clients. Osgood Bank also continues to specialize in home loans and services a portfolio of approximately $135 million in mortgages in-house, mostly for Ohio families.
In recent years, given shortages in housing locally, the bank has developed creative products and services for construction and development so that families and developers have the financial capacity needed to build. Through Osgood Bank’s specialty lending division, the bank now has commercial customers in more than 35 states from coast-to-coast. To complement this niche strategy, Osgood Bank recently signed a definitive agreement to purchase Accord Financial Group, a small equipment finance company based in Covington, Ohio. Accord’s team of 14 employees specializes in financing small business loans (typically up to $100k) predominantly for agricultural, construction, and transportation equipment. Accord’s team and mission will complement the bank’s existing foundation of entrepreneurial spirit and focus on unique business lines that can be scaled for growth.
In anticipation of the opportunities that lie ahead, Osgood Bank has strategically positioned itself to thrive. Through deliberate decisions and key strategic moves, the bank has enhanced its capabilities to better serve customers and keep evolving. Osgood Bank is poised for continued growth, innovation, and unwavering commitment to both its customers and the communities it serves. The acquisition of Accord Financial is just another example of the bank’s forward-thinking approach, signaling a bright future for Osgood Bank and all our team members.
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