Reinvesting in Our Community, One Organization at a Time

OSB’s President & CEO, Rick Northrup shares what’s at the heart of OSB’s passion for helping small businesses grow.

As a community bank, OSB understands what makes our neighborhoods, villages, and towns unique. We focus on lending to the small businesses and organizations that make us who we are.

A recent example illustrates this:

A charter school in our community was looking to grow and move into a new facility.  The school had been operating in a rental building and the administration wanted to own a building in order to control the school’s future and growth. Although the school and staff had been in operation locally for many years, the only financing available to them was from large, out-of-town financial institutions, which was expensive with very disadvantageous terms. The school could not afford this type of financing without inhibiting its growth. In fact, the school would have had serious financial struggles under the terms, placing its long-term success in jeopardy.

At OSB, we looked at the situation and found that the school’s students had very high academic results; the school’s staffing was strong and experienced; and the school also had committed parents. The building that the charter school wanted to purchase was an old elementary school, which would allow the school to double in size. At the time, the school was serving over 140 students, representing over 100 local families. The school and its plans made sense to us.

The team at OSB got to work, examining the school’s track record, business plan, staff, and education philosophy.  We also investigated the school’s collateral, learning about the potential for reestablishing a school there for the long-term, and understanding its value. When all was said and done, OSB offered a package of term loans and line of credit financing that allowed the school to meet its goals, without placing its financial future in jeopardy.

Since purchasing the building, the charter school has grown and is on track to double its size, as planned.  For the current academic year the school is serving over 200 students and 150 families. Soon the school expects to serve 300 students.

This is how OSB Community Bank reinvests in our community, making things better for all of us who share this little corner of the world—one organization at a time.

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