Chelsea State Bank recently announced its 125th anniversary celebration with an Octoberfest party. The event is open to the community and will take place Saturday, Sept. 24, from 1 p.m. to 4 p.m. at the bank’s main office at 1010 South Main St.
“Celebrating 125 years as the community bank in our area is a tremendous accomplishment and definitely worthy of a party,” said Chelsea State Bank President and CEO Joanne Rau. “Chelsea State Bank has grown significantly over the years, and we are grateful to our communities for our success Whether a personal or business customer, or a resident of a surrounding community, everyone has played a role in nurturing the growth of our Bank for the last 125 years. Now it’s time to celebrate.
Octoberfest Party – Save the Date
- Saturday, Sept. 24 – 1 p.m. to 4 p.m.
- CSB Main Office – 1010 South Main St. in Chelsea
- Entertainment – The Jammin’ Germans band and traditional German dancers
- Complimentary Food – Prepared by Kiwanis and American Legion Post 31
- Beer Sales – Fundraiser for Chelsea Area Chamber of Commerce and Rotary Club
- Activities – Kid Zone, prizes, giveaways and many other fun happenings
The roots of Chelsea State Bank were planted in a true family and community spirit. It all began on Dec. 18, 1897, when a new financial institution was created by 21 Chelsea investors who joined to open Kempf Commercial and Savings Bank.
In April 1908, another large group of Chelsea area farmers and merchants, joined forces creating Farmers and Merchants Bank of Chelsea. Paul G. Schaible, Sr., an organizer, served as head cashier and sole employee of the bank in its early years. Both Chelsea banks flourished over the next two decades.
With The Great Depression of the 1930s, countless banks across the nation failed. Although both Chelsea banks were conservatively managed and healthy, they decided it was both practical and prudent to merge. In 1934, the two banks formed Chelsea State Bank (CSB). Paul G. Schaible, Sr. was named bank president, a leadership role he would maintain for 28 years, until Paul E. Mann succeeded him in 1962.
Paul Schaible, Jr. became president in 1985, and recruited John Mann to Chelsea State Bank in 1988. He then recommended Mann as his successor in 1994.
Standing the test of time through wise leadership, CSB grew as the Village of Chelsea and its neighboring communities prospered.
CSB welcomed the second century with the opening of the Dexter Banking Center in 2000 – the bank’s first branch office outside of Chelsea. CSB continued to embrace technology offering customers the opportunity to bank over the phone, at an ATM, in drive-thru lanes and digitally through online and mobile banking.
While still maintaining face-to-face services, the bank provides customers with the ability to bank wherever and whenever it’s most convenient for them.
In 2019, the history of CSB changed course when Joanne K. Rau accepted the role of president. On Jan. 1, 2021, Rau became the president and CEO of CSB. She is the first woman to hold these positions at CSB, as well as the first non-Mann or Schaible appointed as president of the bank since 1921. She succeeded Dave Schaible, who had been named president in 2017.
Over the last 125 years, CSB has seen, survived, and even thrived through many historical events including two world wars, the 1918 Influenza Pandemic, the Roaring Twenties, The Great Depression, several polio epidemics, the attacks of Sept. 11, 2001, The Great Recession, and the COVID-19 pandemic.
“Throughout our history, Chelsea State Bank has built its reputation on helping our customers and communities during robust economic times, as well as the critical and challenging times,” said Rau.
“We look forward to celebrating our 125th anniversary this fall. It’s truly a remarkable milestone, as the number of community banks in Michigan continue to shrink. Community banking is ever changing, but one aspect remains constant – we are the backbone of our local economies,” she said, adding, “We create economic growth opportunities, help families achieve their dreams and reinvest local dollars. At Chelsea State Bank, we will remain committed to our core values while aspiring to be Michigan’s premier independent community bank, where banking is simple and relationships matter. Now it’s time to mark your calendars and celebrate.”
