Updated: May 26
Why does where you bank matter?
SSB Community Bank focuses on our clients by maintaining our Core Values each and every day. Our Core Values were hand selected from every member of our team. They come from our goals, our priorities, and our love of serving the communities that we work and live in. This commitment to our community allows us to provide superior client experiences and create products and services that are right for you. At SSB, you can be confident in knowing that our clients are our first priority.
Our Core Values
Client, Employee, and Partner relationships are essential to a successful experience, adding shareholder value and maintaining relevance in community banking.
Acceptance of individual and collective responsibility for success through ownership of opportunities with professional execution and delivery.
Engage with honor, trustworthiness, responsibility, and serve with a passion to exceed expectations in every opportunity.
Empower our staff to grow and develop in order to accept greater challenges and achieve greater results to benefit our clients and shareholders.
SSB Community Bank’s History
SSB Community Bank is a 99-year-old independent bank. Formerly known as Strasburg Savings and Loan, the company was officially organized on December 9, 1924, and opened its doors for business on November 16, 1925. The original location was along Wooster Avenue in Strasburg, Ohio. After thirty-five years at this location, SSB’s growing client base prompted the need for more space, and the main office was relocated to Bodmer Ave in Strasburg. In 2018, the company’s growth called for another move, and the main office returned to Strasburg’s main street Wooster Avenue. In January 2015, SSB entered the Holmes County Market with the opening of its Berlin office. In December 2020, a third office was opened in Dover with a central location on the Boulevard. In April 2022, the Berlin office relocated alongside SR39. Looking forward, we hope to grow in our assets, brick and mortar locations, and client base.
Being the ELITE bank in the area is our vision at SSB Community Bank.
Our Team at SSB Community Bank
At SSB we are creating a stimulating work environment for our team that encourages, develops, and rewards excellence. We meet that challenge by ensuring our team is well trained in providing exceptional products and services. This experience is sure to leave you confident that the client is our number one priority.
Watch us Grow!
In December of 2022, SSB Community Bank celebrated the milestone of $200 million in assets. Over the last 10 years, with the support of our staff, community, and clients, SSB has seen substantial growth. Ten years ago, the company’s assets were under $40 million, and SSB was operating out of one office. Under the leadership of the Board, Management Team, and President and CEO Nick McMillen, we were able to reach $100 million in assets in June of 2019 and the $200 million mark in December 2022. SSB feels that this milestone is a chance to both appreciate how far we have come and to remain optimistic about the future of the company.
Deposit Insurance FAQ’s
Q: What is the FDIC?
A: The FDIC (Federal Deposit Insurance Corporation) is an independent agency of the United States government that protects bank depositors against the loss of their insured deposits in the event that an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.
Q: What is deposit insurance?
A: FDIC deposit insurance protects bank customers in the event that an FDIC-insured depository institution fails. Bank customers don’t need to purchase deposit insurance; it is automatic for any deposit account opened at an FDIC-insured bank. Deposits are insured up to at least $250,000 per depositor, per FDIC-insured bank, per ownership category. Deposit insurance is calculated dollar-for-dollar, principal plus any interest accrued or due to the depositor, through the date of default. For example, if a customer had a CD account in her name alone with a principal balance of $195,000 and $3,000 in accrued interest, the full $198,000 would be insured.
Q: What happens when a bank fails?
A: In the unlikely event of a bank failure, the FDIC responds in two capacities. First, as the insurer of the bank's deposits, the FDIC pays insurance to depositors up to the insurance limit. Historically, the FDIC pays insurance within a few days after a bank closing, usually the next business day, by either
1) providing each depositor with a new account at another insured bank in an amount equal to the insured balance of their account at the failed bank, or
2) issuing a check to each depositor for the insured balance of their account at the failed bank. In some cases—for example, deposits that exceed $250,000 and are linked to trust documents or deposits established by a third-party broker—the FDIC may need additional time to determine the amount of deposit insurance coverage and may request supplemental information from the depositor in order to complete the insurance determination. Second, as the receiver of the failed bank, the FDIC assumes the task of selling/collecting the assets of the failed bank and settling its debts, including claims for deposits in excess of the insured limit. If a depositor has uninsured funds (i.e., funds above the insured limit), they may recover some portion of their uninsured funds from the proceeds from the sale of failed bank assets. However, it can take several years to sell off the assets of a failed bank. As assets are sold, depositors who had uninsured funds usually receive periodic payments (on a pro-rata "cents on the dollar" basis) on their remaining claim.
Q: How can I get deposit insurance?
A: Depositors do not need to apply for or purchase FDIC deposit insurance. Coverage is automatic whenever a deposit account is opened at an FDIC-insured bank. If you want your funds insured by the FDIC, simply place your funds in a deposit account at an FDIC-insured bank and make sure that your deposit does not exceed the insurance limit for that ownership category. See “Are My Accounts Insured by the FDIC?” for more information about the types of insurable products that are covered by FDIC insurance and the amount of deposit insurance coverage that may be available under FDIC’s different ownership rights and capacities.
Have you tried our digital wallet?
With the launch of our digital wallet in December 2022, customers now have the option to use their SSB debit cards with Google and Apple Pay. With this safe, secure, and convenient payment option, payments are only a tap away. As SSB continues to work to provide the most up to date technology to our clients, our staff remains available to help and answer any questions and concerns. Speak with one of our branch managers today!