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News & Events

Dayton-Area Bank Embarks on $3M Expansion

A $3.1 million project is underway for one of the largest banks north of Dayton. The endeavor will prompt the need for new jobs.

From the September 30, 2019 edition of The Dayton Business Journal

By Jacob Fisher, Staff Reporter

A $3.1 million project is underway for one of the largest banks north of Dayton. The endeavor will prompt the need for new jobs.

Osgood State Bank broke ground in August on a two-story addition to the south side of its Osgood branch. The new Darke County facility, a 17,500-square-foot operations center, is designed to consolidate the bank’s administrative staff.

Weigandt Development Ltd., a firm based in Auglaize County, is the general contractor for the project. Osgood State Bank also partnered with Krouse Design Ltd. on building design and Matt Fisher on architecture.

Currently, the bank’s administrative operations — including human resources, loan processing, marketing, information technology and accounting — are housed in three separate branches, said Keith Burghardt, chief operating officer at Osgood State Bank. The expansion will allow Osgood to “bring existing staff from those three locations under one roof,” he said.

“The additional infrastructure (will allow) for more synergy between departments,” Burghardt said.

It will also enable the bank to establish its own call center. Upon completion, Osgood plans to leverage some existing staff to support the call center, and it may add up to three additional jobs to meet demand, Burghardt said.

As part of the expansion, a new drive-thru will be constructed on the east side of the branch, as well as a community room.

Construction is expected to complete by September 2020.

The bank currently employs 55 people across its Osgood, Fort Loramie, Chickasaw and Lakeview branches, Burghardt said. The new operations center is expected to house 25 workers upon opening with a maximum capacity of 40.

Osgood State Bank is one the largest banks in the Dayton area, with more than $145 million in local deposits in 2018, according to DBJ research. 

Click Here to Read the Article in The Dayton Business Journal