Chelsea State Bank recently announced the retirement of President, Ex Officio David Schaible.
John Mann remains chief executive officer and Joanne Rau president.
“It is with mixed emotions that I announce Dave’s retirement, said Chelsea State Bank CEO John Mann. “It’s sad to see him go, but I’m tremendously happy for him. As a third generation Schaible, Dave will always be a consummate banker with a rich historical link to our bank. I know I speak for all who worked with Dave in our bank, the industry and our communities, we will miss Dave’s leadership, keen perspective and hearty laugh. Thankfully, he will remain on our Board of Directors and therefore continue to provide counsel during his retirement.”
Schaible began his career at Chelsea State Bank in 1985 and worked his way through the ranks including Security Officer, Personal Loan Officer, Investment Officer, and Head of Retail Banking. He was elected to the Board of Directors in 2005 and attained the position of Executive Vice President and Chief Financial Officer in 2011, President in 2017 and President, ex officio in 2019.
A lifelong resident of Chelsea, Schaible graduated from Chelsea High School and obtained his bachelor’s degree in Economics from Albion College. He is a longstanding member and past president of Chelsea Kiwanis Club and serves on its Board of Directors. He also serves on the Board of Chelsea Community Foundation.
“Dave’s father, Paul Schaible, Jr. was president before me, and hired me in 1988 and was chairman of our board until 2005, said Mann. “Dave’s grandfather, Paul Schaible, Sr. was the organizer of the Farmers and Merchants Bank in 1908, and it is said that he traveled the countryside in horse and buggy to secure investors for the bank. He became the first president of Chelsea State Bank after the two Chelsea banks merged in 1934.”
Mann continued, “Family history aside, Dave has done an outstanding job for Chelsea State Bank throughout his long career. We are now prepared to change the course of our history as we have had all men and all Schaibles and Manns appointed to this position since 1921. Joanne Rau became our new president last year.”
With a history of serving the local communities for over 120 years, this is the first time in 99 years of the bank’s rich history that someone other than a Schaible or a Mann is leading the bank as president. Currently each family has a junior leader represented in the Bank – Human Resource Director Emily Schaible and Commercial Loan Representative Stuart Mann. The Schaible-Mann beat goes on.
“We are extremely excited to have Joanne lead our team,” said Mann. “Joanne’s expertise in banking including leadership, planning, and team building – coupled with her community involvement –positions Chelsea State Bank for continued long-term success. We all wish Dave and his wife Deborah a long and healthy retirement. They have been special friends to all of us and they deserve it.”