American Savings Bank

American Savings Bank, originally established as American Savings and Loan Association in 1892, underwent several name and organizational changes throughout its history. In 1993, the institution rebranded as American Savings Bank while transitioning to a mutual savings bank structure. By 1995, it changed its name to American Savings Association and modified its organization type to mutual savings and loan, before eventually reverting to American Savings Bank, FSB. During this year, the bank also changed its primary federal regulatory agency to the Office of Thrift Supervision and relocated its main office to 503 Chillicothe Street, Portsmouth, Ohio. In June 2002, American Savings Bank acquired Waverly Building and Loan Company in Waverly, Ohio, followed by the acquisition of Cottage Savings Bank in Montgomery, Ohio, in November 2012. Subsequently, on July 21, 2011, the bank changed its primary federal regulatory agency to the Office of the Comptroller of the Currency. Finally, on April 14, 2018, American Savings Bank merged with Peoples Bank, based in Marietta, Ohio, concluding its operations as an independent financial institution.

Below is a list of some important events in banks history, including mergers and acquisitions.

1892-01-01Institution established. Original name: American Savings and Loan Association.

1993-07-09Changed Organization Type to Mutual Savings Bank.

1993-07-09Changed Institution Name to American Savings Bank.

1995-01-31Changed Organization Type to Mutual Savings & Loan.

1995-01-31Changed Institution Name to American Savings Association.

1995-01-31Main Office moved to 503 Chillicothe Street, Portsmouth, OH 45662.

1995-05-10Changed Organization Type to Stock Savings & Loan.

1995-07-21Changed Chartering Agency to Ots.

1995-07-21Changed Organization Type to Stock Savings Bank.

1995-07-21Changed Primary Federal Regulatory Agency to Ots.

1995-07-21Changed Institution Name to American Savings Bank, Fsb.

2002-06-28Acquired Waverly Building and Loan Company in Waverly, OH.

2011-07-21Changed Primary Federal Regulatory Agency to The Office of the Comptroller of the Currency.

2012-11-16Acquired Cottage Savings Bank in Montgomery, OH.

2018-04-14Merged and became part of Peoples Bank in Marietta, OH.