ASHLAND — The Mansfield-based Mechanics Bank has expanded to its first location outside of Richland County in Ashland.
A crowd gathered outside Thursday to watch Mechanics Bank staff cut the ribbon on the new two-story building, located at 1040 George Road off U.S. Route 250.
“Thank you very much, most importantly, to the business leaders, community leaders, residents of Ashland that have welcomed us and make us feel like neighbors. It’s been great,” CEO Mark Masters told the crowd.
Mayor Matt Miller said, “This is a beautiful building, and we are so glad to have another, what I would consider, a hometown bank, our own local bank.”
Miller said the 1.5 million people who drive through the U.S. Route 250 intersection will notice the “monument.”
He also said Mechanics Bank already wrote a check to cover all Ashland County Parks District activities for the year.
“Mark and his team have been consistently reaching out to different parts of our community, offering their financial assistance in helping us build Ashland,” Miller said.
Executive Vice President and CFO Jason Painley said the opening reflected a move that has been years in the making.
“Ashland’s community has been so good to us long before our arrival here,” Painley said, nodding to long-time customers.
Painley said Mechanics Bank stands out from other banks because of its commitment to the areas it serves.
One feature of the new building is a community meeting room, which Office Manager Nikki Herrmann said could be used for things such as Rotary Club meetings.
There are nine employees at the location already, but Herrmann said eventually more positions will open.
The Ashland location had a soft opening on Dec. 22, but now is open six days a week.
Mechanics is an independent, FDIC-insured bank with over 160 employees across the 10 locations. Its assets total over $800 million.
Mechanics traces its roots to 1886 where the first location was founded with $60,000 in assets in Mansfield.
The founders chose the name “Mechanics” because of their close relationship with “the working people,” according to the website.
Mechanics offers retirement accounts, mortgages, home equity loans, estate planning, 401(K)s and other banking services.