About Dollar Bank
Our roots are deeply tied to the people, commerce and values of the western Pennsylvania
and northeastern Ohio regions. For
years, Dollar Bank has grown to become a large, full service, regional bank serving both
individuals and business customers. Today, Dollar Bank operates more than 50 branch offices
and loan centers throughout the Pittsburgh and Cleveland metropolitan areas.
Community Messages:
We are the largest independent mutual bank in the nation.* In this age of mega
mergers in the banking industry, Dollar Bank remains fiercely independent and
committed to providing the highest quality of banking services to individuals
and businesses for many more years to come. And as a mutual institution, we have
no stock to sell. As a well-capitalized bank, we have no reason to sell. This
means that consumers and businesses alike will continue to find Dollar Bank as a
viable option to meet their needs.
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Driven by the same independent spirit that has allowed us to grow for over
years, our success is rooted in an intense effort to provide the products and
services that reflect the needs of our customers. Dollar Bank remains committed
to delivering the highest quality of banking services to individuals and
businesses for many years to come.
Here are some specific points that indicate Dollar Bank’s continued strength.
- For
years Dollar Bank has been focused on one thing, and one thing
alone…meeting the needs of the customers and the region we serve. And as
the nation’s largest mutual bank, we have no shareholder demands to
distract our attention from that singular mission. Our advertising in
recent years has emphasized that our customer focus is on “Main Street,
not Wall Street”. That’s the value of independence.
- This focus on growing personal and business customer relationships in
northeastern Ohio and southwestern Pennsylvania is why our asset base has
grown 8% in the last year and today stands at $5.7 billion. That growth
is supported by an ever-expanding branch network in both markets and by
Dollar Bank’s recent introduction of a new Cleveland headquarters
facility.
- Our history of sound management is evidenced by the Bank’s superior
capital position. Dollar Bank’s core capital has grown to more than $500
M, exceeding by almost $200 M the 6% requirement for being considered
“well capitalized”, the highest category of capitalization under the
regulatory framework of the Office of Thrift Supervision.
- Dollar Bank’s loan portfolio has steadily grown in the areas of
residential and commercial real estate, corporate and small business, and
education loan funding with a consistent and conservative approach. We
have not changed our lending standards in many years and have never
participated in the sub-prime lending marketplace. This conservative
lending practice has stood the Bank well. Our non-performing assets as a
percentage of assets are approximately half of one percent, an extremely
low percentage for the industry. As a result, Dollar Bank’s credit
quality has remained strong, and more than adequate reserves are in place
to support continued growth.
- 2008 Semi-Annual Statement of Condition
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It is through relationships developed and cultivated over six generations that
Dollar Bank is able to make an impact in our communities. We have grown large
enough to be an instrument of change for the businesses we serve, without
abandoning the personal service they have come to expect. Dollar Bank recognizes
that lending to area businesses spurs job growth, enhances the tax base and
strengthens the region's economic viability. Businesses both large and small -
and the community as a whole - have been the beneficiaries of our sound, yet
creative approaches to business lending.
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Business Banking at Dollar Bank is our people. You will benefit from the services
provided by experienced bankers, capable of managing your accounts and developing
an understanding of your business. This ongoing relationship allows your banker
to address your current financial needs and assist you in anticipating future
opportunities.
Relationship managers work closely with all key areas within Dollar Bank
including Business Financing, Real Estate Lending, Leasing, Cash Management
Services and Private Banking as your needs arise.
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At its core, banking has always been a business of responsibility and earning
the confidence of our customers. The leaders of Dollar Bank feel an intense
responsibility to remain independent and provide products and services that
grow out of understanding our customers' needs, both individual and business.
That's what has set Dollar Bank apart in the minds of our customers and has
made us one of the oldest continuously operating banks in our region. That's
what will carry Dollar Bank into the future.
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July 19, 1855
Charles Colton opens Pittsburgh Dollar Savings Institution. The first day's
deposits total $53.
September 4, 1858
Pittsburgh Dollar Savings Institution is renamed "The Dollar Savings Bank."
March 1871
Dollar Bank's Fourth Avenue Office opens.
1931
$1 million in cash is brought to the bank office floor to prove the
availability of customers' funds during the depression. The Bank never closed.
November 1, 1949
The first time Dollar Savings Bank has assets at book value of over $100
million.
June 29, 1961
Dollar Bank's first branch office opens in the Oliver Building.
November 30, 1964
Dollar Savings Bank enters the computer age with our first online system
transaction.
January 20, 1976
Pay-By-Phone is introduced as the first bill payment system of its kind in
Pennsylvania and second in the nation.
1976
The first time Dollar Savings Bank has $1 billion in assets.
July 14, 1976
Dollar Savings Bank's Fourth Avenue Office is declared a historic landmark.
1977
Dollar Savings Bank installs its first ATM machine.
1978
Free retail checking accounts (NOW accounts) are offered for the first time
at Dollar Savings Bank.
July 1981
Dollar Bank begins to offer accounts and services tailored to the needs of
businesses.
September 20, 1984
Dollar Bank acquires Continental Savings Bank and offers banking services to
the Cleveland, OH area.
1984
Dollar Savings Bank is renamed to "Dollar Bank".
1986
Dollar Bank begins offering term loans, lines of credit and credit cards.
January 18, 1994
The first Dollar Bank Loan Center is opened in Murrysville, PA
March 1994
Dollar Bank's Win-Win Home Equity Adjustable Rate Loan is launched and is the
first loan of its kind.
March 1997
Dollar Bank becomes the 16th bank in the country to offer Online Banking via
the Internet.
January 4, 1999
Dollar Bank initiates the Freedom ATM Alliance surcharge free network.
2000
Mortgages For Mothers seminars for low to moderate income individuals are
introduced.
2003
Dollar Bank reaches $5 billion in assets.
June 10, 2003
Dollar Bank starts using imaging technology to present checks and statements.
March 8, 2004
Dollar Bank's Loan Center opens in Avon, OH.
April 26, 2004
Dollar Bank opens a Loan Center in North Olmstead, OH.
August 29, 2004
The 10th anniversary of the Dollar Bank Jamboree is celebrated.
January 2005
The Dollar Bank CD Ladder is launched as the first CD of its kind.
May 2, 2005
Dollar Bank opens a branch in Murrysville, PA.
July 5, 2005
Dollar Bank opens a branch in Stow, OH.
July 19, 2005
Dollar Bank celebrates 150 years!
December 11, 2006
Dollar Bank opens a branch in Pleasant Hills, PA.
June 4, 2007
Dollar Bank's branch in Mayfield Heights, OH opens.
July 28, 2008
Dollar Bank unveils its new headquarters at the Galleria in Cleveland, OH.
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*Source: fdic.gov mutual institutions as of
12/31/07.
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