For most people, the year 2020 is merely the start of a new decade.
For JCB, however, it is much more: a source of pride and a cause for celebration. The venerable community bank marked its 120th birthday on May 1.
Even so, it has no intention of slowing down. Indeed, the best is yet to come, for the bank and especially its customers, according to President and CEO Marvin Veatch.
As a community bank, JCB is committed to extraordinary, personalized service, and more and more people are taking notice. JCB strives to be the “bank of choice” for its diverse customer base, which includes individuals at all stages of life, as well as businesses, no matter how large or small.
The past three to four years alone have brought significant growth, a trend Veatch expects will continue. Since 2015, the bank’s assets have increased by approximately $100 million, to nearly $600 million, with an additional $500 million in assets under management in the burgeoning wealth management division. A wholly owned subsidiary of Bancorp of Southern Indiana, JCB is headquartered in Seymour, Indiana, which is located on Interstate 65, halfway between Indianapolis and Louisville, and operates 10 locations throughout south central Indiana. Virtually all of its growth over the years has been organic, according to Veatch.
Veatch says JCB has benefited from several recent bank mergers and consolidations in its market, attracting new customers through its responsiveness to their needs; ability to find creative solutions to complex banking challenges; timely, flexible local decision making; and the knowledge and experience of its seasoned leadership team.
Veatch also credits much of JCB’s success to the experienced leadership team. He is only its ninth president, and several team members have been with the organization or worked in the banking industry for 20 years or longer. Veatch, who has 30 years of banking experience, joined JCB nearly 18 years ago as chief financial officer. He has held his current position for almost three years, succeeding his predecessor, Dave Geis, who guided the bank as president for 37 years before retiring in early 2017.
“Our top leadership team, including myself, make ourselves accessible and available to anyone,” Veatch says.“Our customers and prospective customers appreciate this. They also appreciate our willingness to goabove and beyond for them.”
For example, because of recent bank consolidations, a number of area residents had difficulty closing their mortgage loans, Veatch says. “Our mortgage lending team members were able to step in on several occasions and provide the necessary assistance to close the loans in a timely manner and help these individuals and families realize their home ownership dreams become a reality.”
‘Banking Technology at Your Fingertips’ Makes Banking Easier and More Convenient
Of course, a bank doesn’t get to be 120 years old by resting on its laurels or by continuing to do things the same way it always has. Today’s customers, for instance, have access to online and mobile banking conveniences that earlier generations could not even have imagined.
JCB takes pride in its technology offerings that provide protection and value to our customers. As an example, JCB was a leader in rolling out CardValet®, a service that allows customers to control where, when and for how much their debit cards can be used.
Additional recent technological innovations implemented within the last six months include Apple Pay®, Google Pay™ and Samsung Pay® along with the availability from Intuit to download banking account information directly into Quicken® or Quickbooks®.
According to Veatch, “It’s all about making banking easier and more convenient for our customers.”
The Fabric of the Community
Though much has changed since the Jackson County Loan and Trust Company opened in 1900 with $25,000 in assets, much remains the same. “We continue to live our core values of Honesty, Encouragement, Accountability, Respect and Teamwork,” Veatch says. “We continue to nurture and take pride in our many long-term customer relationships.”
Despite the ongoing transformation of the banking industry, Veatch believes there will always be a place for communitybanks in general and JCB in particular. “JCB, like many community banks, is a part of the fabric of the communities we serve,” he says. “We live in the towns and cities where we work and are truly invested in their success. Community banks provide jobs and salaries, loans for capital improvement projects, and other varied investment opportunities. In addition, our team members give back in many ways, contributing both their financial resources and volunteering their time to numerous charitable organizations.”
Here’s to the next 120 years.
CardValet is a registered trademark of Fiserv, Inc. Quicken and QuickBooks are registered trademarks of Intuit Inc.
This content was provided by Financial Service Directory. Kiplinger is not affiliated with and does not endorse the company or products mentioned above.
