Shelby State Bank - Ludington
- Banks / Credit Unions
The Shelby State Bank opened its doors for business on November 20, 1931 just a few short months after Churchill & Webber, a private bank, was forced to close its doors amidst the trying economic times of The Great Depression.
The people of Shelby were quick to realize the importance of having a community bank and within a few weeks, ninety-five local people had signed applications for stock in a new bank ? The Shelby State Bank. Upon approval by state banking authorities, The Shelby State Bank opened for business and on its first day, over one-hundred accounts were established. Within roughly a month?s time, the bank reported assets of $79,000.00 and was returning a profit for its investors.
Located in the old Opera House in downtown Shelby from 1931 to 1966, a new building was constructed and over the years saw several significant expansions and renovations, the most recent in 2005. Today Shelby State Bank operates from a state of the art banking facility and continues to be a cornerstone of the Shelby community.
Along with its main office in Shelby, Shelby State Bank operates eight additional full-service banking facilities, which serve a total of five west Michigan counties. Shelby State Bank?s branch banking facilities are conveniently located in the following communities:
Today, Shelby Financial Corporation, the holding company for The Shelby State Bank, has numerous shareholders, many of whom are descendants of the bank