Business of the Month » May 2022
Buckeye State Bank
As a company that strives to reflect the pride, honesty, and hard work ethics that Ohio State "Buckeyes" are known for, it is no surprise that Buckeye State Bank has grown and thrived as much as they have. Originally formed in 1885, the Citizens Bank of DeGraff served the community through the Great Depression & Recession and has the oldest surviving state bank charter in the state of Ohio. The original location is still being used and houses the DeGraff Post Office, complete even with the original vault and name engraving on the outside of the building.
In January of 2014, Buckeye Nation Interim (a company comprised of a diverse team of local business leaders) was formed and ultimately purchased the bank that September and changed the name to Buckeye State Bank. A nod to the "Buckeyes" - 2 of Buckeye State Bank's founders are former Ohio State University players: former OSU defensive lineman & #1 draft pick of the 1994 Cincinnati Bengals, Dan "Big Daddy" Wilkinson and former OSU & CFL quarterback, Stanley Jackson. The bank is now located at 101 North Main Street, DeGraff - across the street from its original location, and a perfect place in the center of town that provides enough room for plenty of parking and drive thru availability. Since the purchase and name change in 2014, Buckeye State Bank has not only met the needs of the community but continues to evolve as one of the fastest growing banks in the country. They have grown from 7 employees and $29 million in assets to 43 employees and $260 million in assets. BSB is unique in the fact that it is employee owned because their largest shareholder is its Employee Stock Ownership Plan ("ESOP"), which owns approximately 15% of the bank. A huge accomplishment, Buckeye State Bank earned BauerFinancial Inc.'s highest 5-star Superior rating. A 5-star rating indicates that Buckeye State Bank is one of the strongest financial institutions in the nation.
Buckeye State Bank is a full-service community bank providing a wide range of services from agricultural and auto loans to business and home loans. They also offer deposit accounts and electronic services to conveniently help individuals and businesses with everyday banking needs. BSB values the relationships they have with their members, and their caring employees are always striving to provide the very best customer experience to everyone who enters their doors. A huge part of what helps to keep BSB thriving is the fact that they are so invested in their community. "Relationships matter. Community banks are rooted in the communities they serve," states Erika Gay, Marketing VP at Buckeye State Bank. "When you bank locally, you’re not only making an investment in your financial future, but you are also building a lifelong relationship that helps grow the local economy." Additionally, BSB serves a vital part in the community's economic development by taking local deposits and lending them back to people to buy local homes or cars or to expand their local business or farm.
The past few years have taught BSB just how much community and relationships matter. They are looking forward to continually "getting back to normal." The most exciting aspect of the future of 2022 is seeing old friends and meeting new ones, face to face! A Chamber member for almost 30 years, Buckeye State Bank believes in the purpose of community, a value that goes all the way back to their original purpose 136 years ago – that "Buckeye" mentality of honesty and hard work. There are a few parallels between a community bank and a Chamber of Commerce in the sense that both assist local businesses in succeeding and therefore provides an overall benefit to the community. When businesses succeed, this helps employ local residents, expands businesses and overall increases standards of living, and that is the goal of Buckeye State Bank and the importance of being a member of the Logan County Chamber of Commerce. BSB has obviously learned many things over the years, and the biggest piece of advice they have for entrepreneurs starting a new business is that you need to develop a strong group of consultants to help you along the way = a trusted attorney, insurance agent, CPA, and bank - for starters. "Find partners that provide you honest advice, so you build a strong company based on your vision."
If you or someone you know is looking for a career in the banking industry, Buckeye State Bank is always looking to add good people to their team to deliver great service to their members.
To find more information about Buckeye State Bank, you can call them at (937) 585-4301 or visit their website at https://www.joinbsb.com/ . You can also find them on the following social media sites: https://www.facebook.com/joinbsb , https://twitter.com/joinbsb , https://www.linkedin.com/company/buckeyestatebank and https://www.instagram.com/joinbsb/ .
Please join us in congratulating Buckeye State Bank on being the Logan County Chamber of Commerce Business of the Month for May 2022!