NEW BANK COMING TO TOWN … Mickey Schwarzbek, President/CEO of the Sherwood State Bank, (second from left) explained the bank’s history and philosophy as a community bank to Archbold Rotarians at their March 1 meeting. Sherwood State Bank plans to open its fourth branch in Archbold by mid-May. Also pictured are vice-president of business development officers Matt Mello (left) and Spencer Short (right). The program was arranged by Archbold Rotarian Matt Mello.
By mid-May Archbold will have a new bank in town, according to Mickey Schwarzbek, President/CEO of the Sherwood State Bank.
Located a block west of Defiance Street on State Route 2 where the Pop Shop used to be, the new structure will become Sherwood State Bank’s fourth branch.
The bank’s main office and operations center is in Sherwood with locations in Defiance (opened in 2000), Ridgeville Corners (2001), and Fayette (2016).
Once fully staffed, Schwarzbek said the office will have three staff in the lobby with two or three others handling the business development functions.
Matt Mello, who is currently vice-president of business development at the Ridgeville Corners office, will have that responsibility at the Archbold branch.
He said that other officers will spend some time at the Archbold branch, including Spencer Short, who handles that responsibility now at their Fayette branch.
Schwarzbek explained that the bank’s philosophy is driven by its community focus. “If our investments (loans) make the communities that our banks serve a better place, then we will be successful.”
For every dollar of profit that the Sherwood State Bank makes, 25% is reinvested in the community, 25% in bank’s employees, 25% in the shareholders and 25% percent in services for the bank’s customers.
Once the Archbold office is open, Schwarzbek said the Ridgeville Corners office will eventually be closed as a full-service office.
The Sherwood State Bank was chartered in 1945 by community leaders after Sherwood had lost its bank during the Depression.