Marblehead Bank: Small but Mighty

Staff Blogger: Mallory Glenn, Advancement and Communications Intern

In an age where big banks dominate the financial industry, Marblehead Bank is a brave, shining exception, managing not just to survive, but to thrive.

Marblehead Bank does not take a one-size-fits-all approach to its customers, but instead strategically designs its services to meet their customers’ particular needs.

“We do banking the old fashioned way,” said William Tuttamore, Marblehead Bank President. “At our bank, customers aren’t just numbers, they’re people.”

Just as Marblehead Bank doesn’t view its customers as just numbers, it’s safe to say that customers don’t just choose Marblehead Bank for its numbers. However, if they did, we wouldn’t blame them. The Bank’s Bauer Ratings, which measures the safety of a bank, and Texas Ratios, which measures the quality of the bank’s assets, are powerful indicators of the bank’s success.

Marblehead Bank has been awarded Bauer’s “Five Star Rating”, the highest classification that can be achieved, each quarter for the past 28 years. Less than 10% of all banks have a “Five Star Rating.”

Marblehead Bank also has a Texas Ratio of zero, which indicates its assets are as strong as they can possibly be. Marblehead Banks is only one of seven banks in the U.S. to achieve that status.

Taken together, these assessments dovetail nicely, indicating that Marblehead Bank is one of the safest and most financially stable banks in the United States. The Marblehead Bank is also a member of FDIC and an Equal Housing Lender.

As is evidenced by the bank’s skyrocketing assets, the bank’s familial values and stellar evaluations are attracting more and more customers, many of them Lakesiders.

Marblehead Bank has two full service locations, and two select-service locations. One full service bank is located less than a mile outside of Lakeside’s gates, at 709 W. Main St., Marblehead. The other full-service bank is located on 259 S. Bridge Road.

There is also a select-service location at Otterbein North Shore Retirement Community and a loan production office in Lakeside, at 162 Walnut Ave., and is open from 10 a.m.-4 p.m. on Fridays and 9 a.m.-12 p.m. on Saturdays.

“One service that we offer the Lakeside Community is a notary service,” said Tuttamore, “We can notarize car titles and boat titles; most legal documents that need to be notarized can be done through us at the Lakeside location.”

Many Lakesiders are also trusting Marblehead Bank with larger financial undertakings, such as their homes.

Financing leased land and other specialty properties of the local community is Marblehead’s niche, as big banks may not be equipped to handle these with the same finesse as a local bank.

In a world of depleting mom and pops and increasing superstores and big businesses, Marblehead Bank proves that quality triumphs over quantity.

For more information about Marblehead Bank, contact the main office at (419)-732-6263.

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