Mutual Federal, A division of First Bank Richmond is proud to celebrate 100 years serving Shelby and Miami counties. Founded August 25, 1922, Mutual Federal originated as First Mutual Savings and Loan Association with one location and just six employees. Mutual Federal has grown to five full-service bank locations located in Sidney, Piqua and Troy, Ohio, and a loan production office in Columbus, Ohio. We currently have 33 employees supporting our customers.
1922 Organized as First Mutual Savings & Loan
1940 Mutual Federal was Federalized
1942 $1 Million in Assets
1947 25th Anniversary
1965 $5 Million in Assets
1972 50th Anniversary
1978 Grand Opening Sidney Downtown Office/Computers online
1979 $20 Million in Assets
1981 Checking accounts are offered/$25 Million in Assets
1982 Consumer/Auto Loans offered
1984 $30 Million in Assets
1988 Charter changed to Stock Savings Bank
1993 $50 Million in Assets
1994 Grand Opening Piqua Branch
1996 Grand Opening Kroger Branch in Sidney
1997 75th Anniversary
2000 $80 Million in Assets
2004 Grand Opening Troy Branch /$100 Million in Assets
2007 Richmond Mutual Bancorp officially purchases Mutual Federal Savings Bank
2010 Randy Herron retires as President of Mutual Federal and Dean Weinert assumes the role
2015 Ground breaking ceremony held for new bank location at 2601 Michigan Street
2015 Opened loan production office in Columbus, Ohio
2016 Grand Opening Sidney Michigan Street Branch
2016 Sidney Downtown Office converts to drive thru only
2018 Kroger Branch is closed and Sidney Downtown re-opens as full service office
2018 $200 Million in Assets
2019 Grand Opening Piqua Downtown Branch
2020 COVID-19 Pandemic caused lobbies to temporarily close and drive-thru and ATM services were optimized.
2022 100 YEAR ANNIVERSARY
2022 $300 Million in Assets
And more to come!
“From the beginning, Mutual Federal focused on two primary tenets - to provide quality banking services on a more personalized basis to the people in Sidney and Shelby County, and to become a recognized exceptional corporate citizen that strives to improve the quality of life in its communities through its direct financial stewardship and its dedicated community involvement. Today, as Mutual Federal celebrates its 100 Year anniversary, we remain diligent in successfully operating our bank focused upon these same two very same important and fundamental objectives, by striving to maintain our recognized and respected community leadership role in the markets that we serve, and by simply delivering the dependable and sincere brand of service that all our customers have come to deserve and expect. We are all anxiously looking forward to beginning the next 100 years as we continue to provide excellence in banking!”
-Dean W. Weinert, President, Mutual Federal
Making Homeownership a Reality for Many - Over the past two years, we’ve provided homeownership to more than 250+ customers, including 22 first time homebuyers resulting in loans of nearly $40M.
Keeping Businesses Alive & Thriving During a Global Crisis - In 2020 and 2021, we provided PPP funding to more than 243 local businesses, totaling more than $78M in funding.
Supporting Economic Growth & Prosperity - We provided more than $222M in business lending over the past two years.
2021 charitable donations: $92,760
Mutual Federal is committed to be an integral partner to the communities in which they serve. Since 1922, not only have they provided their community with sound financial products and services, they have also fostered a philanthropic commitment that has made a significant impact through the dedication of their organization’s resources, talents and time. This commitment is facilitated through the following channels: