Van Wert Federal Savings Bank adding Fort Wayne presence
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Ohio-based Van Wert Federal Savings Bank will be expanding into Indiana and open a new Fort Wayne location serving as a branch and commercial banking operations center, the bank said Wednesday.
The bank, which is headquartered in Van Wert just across the Ohio border, currently operates one branch in the city with 27 employees and $175 million in assets. According to a news release, the company plans to grow to have 79 on staff and $500 million in assets by the end of 2027.
That growth starts in Fort Wayne, where the bank has invested about $750,000 into renovating a location in the 202 Metro building at 202 W. Berry St., which is expected to to open in the fourth quarter
Van Wert is currently leasing space at the Electric Works mixed-use innovation district in the interim.
The bank said it plans to start the Indiana location off with about 20 employees and eventually expand to around 50.
“We are focused on commercial customers and technology in Fort Wayne,” a spokesperson said. “so we are forecasting maybe one additional branch in Fort Wayne in the next few years and one more in Van Wert.”