Business of the Year: The Commercial & Savings Bank (2024)

WOOSTER - The (CSB) has been garnering accolades for its commitment to the communities it serves and the workers it employs. This is just part of the reason the 142-year-old financial institution is the 2022 Wooster Area Chamber of Commerce Business of the Year.

"This Wooster Chamber of Commerce award caught us by surprise," CSB President & CEO Eddie Steiner said. "It is humbling, and it is a pretty big deal to us. There are so many great members in the manufacturing, industrial, service and retail industries ... to be selected this year felt like an affirmation of our efforts to continually contribute to commerce in Wooster and Wayne County.”

Since 1998, CSB has been contributing to the commerce here from the time it opened its first Wayne County banking center in Shreve. While its Wayne County history is now close to a quarter-century, CSB's roots go back to 1874 when two businessmen, John Koch and Robert Long, formed the Bank of Millersburg. In 1879, it was chartered under its new name: The Commercial & Savings Bank of Millersburg, Ohio.

moved into downtown Wooster in 2005

In 2005, CSB moved into downtown Wooster when the community bank opened a trust and commercial lending office in Liberty Commons.

CSB continued to expand its footprint in Wayne County as it opened an Orrville banking center in 2007 and the second one in 2009. In 2017, the two offices were combined into one new banking center on High Street.

The trust and commercial lending operations in downtown Wooster continued to be successful, occupying three offices in Liberty Commons. But, CSB's customers didn't have a place to bring their deposits in Wooster.

That would change in 2011 when Steiner announced CSB would acquire Premier Bank & Trust (formerly Ohio Legacy Bank) two Wooster branches: one on West Liberty Street and the other on Milltown Road.

When the lease ran out at West Liberty, CSB moved east ... leasing a building at 405 E. Liberty St. near Muddy's restaurant. The move bought time until the bank could construct a building on land it purchased just across the street.

opens new downtown banking center in 2019

CSB opened its new downtown Wooster banking center at 350 E. Liberty St. in June 2019. The design of the building intentionally incorporated some of the industrial look and feel of its neighbors, like Muddy's, JAFB Brewery and Minglewood Distillery. The two-story banking center features open spaces, exposed beams and ductwork, a lot of glass out front and a second-floor patio. The nearly 7,000-square-foot banking center includes two drive-thru lanes and another to serve those using the ATM or making night deposits.

CSB employs 190 people and now operates 16 banking centers, including its main office. The offices are located in Holmes (seven), Wayne (four), Tuscarawas (four) and Stark (one) counties.

"The bank has grown quite a bit and Wooster has been very supportive," Steiner said."Wooster has been a very strong growth market for us, and we are delighted to be here."

The feeling is mutual.

“The Commercial & Savings Bank’s commitment to the local market has not only been unwavering but has expanded in recent history. Strong and engaged leadership that is focused on community involvement has led to a positive reputation and highly recognized brand,” said Chamber President Samira Zimmerly. “While the CSB team is focused on their core service in the financial sector, it is hard to find a company that values their employees being active in the community more than CSB. Wooster is fortunate to have CSB in the community.”

Commercial Savings Bank received Board of Director's Award five years ago from Wooster Chamber

This is not the first time the Wooster Area Chamber of Commerce has recognized the efforts of The Commercial & Savings Bank. Five years ago, it received the Board of Director's Award.

Part of the recognition then, as now, involves not only contributing to the economic well-being of the Wooster/Wayne County market but also being involved in the community and with nonprofit organizations.

For a community bank to be successful, it needs to serve the communities where it does business, Steiner said. CSB team members have long been very active in their communities, serving as volunteers, sitting on committees, and adding their expertise to nonprofit boards.

Recognized as one of the NorthCoast 99 best workplaces

While CSB has been good for the communities it services, it also has been good for the employees who work there. For the fifth straight year, the bank was recognized as one of the NorthCoast 99 best workplaces for top talent. Some of the criteria involve recruiting and retaining staff, training and a commitment to developing talent.

CSB assisted businesses, independent contractors and the self-employed with applying for federal funding from the Paycheck Protection Program. Steiner estimated staff helped with more than 1,300 PPP loans over a few months leading to around $130 million in financial assistance.

"Many business owners told us that was the difference between being able to operate and keep their employees paid, even though their businesses were closed by government order," Steiner said. "It was avery busy time for staff. They worked very long hours. Almost all of those loans have been forgiven by the government."

Other recent accolades CSB received include a Community Investment of the Year Award from the North Canton Chamber of Commerce and an Associate of the Year Award from the Building Industry Association of Stark and East Central Ohio.

While the awards and recognition are nice, "We don't live for the awards, we live for the communities," Steiner said.