Owen County State Bank

Specialties

Owen County State Bank has three full-​service locations and five automated teller machines in Spencer, Bloomington, andGosport, Ind. The bank offers a variety of personal and business banking solutions, such as checking and savings accounts, money market accounts, certificates of deposit and online banking, as well as lending services, including home mortgages and consumer loans. It was organized in 1922 as a private bank under the name Citizens Bank of Freedom. In 1933, it was reorganized and chartered as a state bank, and the name was changed to Owen County State Bank. Headquartered in Spencer, the bank s Gosport branch office was added in 1945 when it acquired Gosport State Bank.

History

Established in 1933.

In 1922, the Citizens Bank of Freedom, Indiana was organized as a private bank. At the end of the twenties, many businesses had gone bankrupt, including several local banks. Citizens weathered the storm and was given the opportunity to expand and become the county seat bank.

On February 4, 1933, the bank opened for business in Spencer. In the same year, the bank was temporarily closed by President Roosevelt’s «Bank Holiday». Awarded an «A» rating, the bank reopened as strong as ever.

Also in 1933, Citizens was issued a new charter, reorganizing it from a private to a state bank. With this change, the name Owen County State Bank was adopted.