Old Fort Banking, which has nine branches throughout Ohio, opened a commercial loan office in Centerville in 2008 and a mortgage loan office in Xenia in 2009.
“The success of the two operations identified a growing need for a service-oriented community bank,” said President and CEO Michael Spragg.
The Old Fort Banking Co. at Sugarcreek will first open as a commercial loan office and will replace the Centerville location, Spragg said. The branch is expected to be completed either in the first or second quarter of 2011.
The branch initially will be managed by district vice president Dave Walton, commercial banker Rich Demko and commercial lending assistant Donna Wheatcraft, who each work in the Centerville office.
Old Fort Banking has about 120 employees in Ohio, about $400 million in assets, and more than $300 million in deposits, Spragg said.
“We have survived and remained strong because we are common sense lenders that did not engage in high risk activities that led to the current financial downturn,” Spragg said.
He added his company is not experiencing a credit crunch, has liquidity to lend, and “never took TARP money, never took a bailout and never stopped lending.”
“Because we are a small business, we understand the needs of small business owners,” he said.
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