Croghan closes deal with Indebancorp, assets now $800 million
Croghan Bancshares, Inc. (parent holding company of The Croghan Colonial Bank), announced it has acquired Indebancorp (parent holding company of National Bank of Ohio) effective December 6.
National Bank of Ohio has now been merged into Croghan Colonial Bank, according to a Croghan spokesperson. The branches of National Bank of Ohio (located in Oak Harbor, Port Clinton, Oregon and Curtice) will become offices of Croghan Colonial; as well as the Perrysburg Loan Center. Croghan Colonial Bank now has an asset base of more than $800 million
Rick Robertson, president & CEO of Croghan stated, “This completes a very strategic acquisition for us at Croghan. We have a significant market share in Sandusky County, now we have a significant market share in Ottawa County. We have a growing presence in both Seneca and Huron Counties, plus growth opportunities in Lucas and Wood Counties. This positions us well to continue our community bank focus, which benefits both customers and shareholders.”
The Croghan Colonial Bank was founded in 1888 and serves Sandusky, Ottawa, Erie, Huron, Lucas, Seneca and Wood Counties with banking center locations in Fremont, Oak Harbor, Bellevue, Clyde, Curtice, Green Springs, Monroeville, Norwalk and Oregon.
Croghan Bancshares, Inc. and Croghan Colonial Bank have also announced they have expanded their respective Boards to include John J. Caputo and James C. Dunn. Both Caputo and Dunn were former directors of Indebancorp and National Bank of Ohio.
Caputo is semi-retired, co-owner /vice president, Jack Bradley Realty Company, a full service real estate company active in sales, management and development in Ottawa County since 1976 and Sandusky County since 1990. Caputo is past president of the Ottawa County Board of Realtors and Port Clinton Downtown Business Association. He was a member of the Indebancorp/NBOH Board of Directors since 1995.
James Dunn is a third generation co-owner of Dunn Chevrolet Buick, Oregon. Dunn is past president of Oregon Economic Development Foundation, recent president of Toledo Area Auto Dealers Association and past board member of ProMedica Bay Park Hospital. Dunn was a member of the Indebancorp/NBOH Board since 1979.
The right thing
Bay Area Credit Union is conducting its Warm Heart/Warm Hands effort to help local families. Visit the credit union through the end of the year and donate new mittens, gloves, hats, scarves and socks, which will be displayed on the credit union’s Mitten & Sock Tree.
Donations can be dropped off Monday through Friday from 8 a.m. to 4:30 p.m. and Saturday 9 a.m. to noon. The office is located at 4202 Navarre Ave., directly across from Pearson Park.
Organizations helped through Warm Heart/Warm Hands include Hannah’s Socks, the East Toledo Family Center, the East Toledo YMCA, Aurora House, Genoa Schools, Oregon Schools, Mom’s House and Head Start to name a few.