Osgood Bank
Russia, OH – March 21, 2025
Osgood Bank announced today it will be opening its newest location in Russia, Ohio. The Russia Branch will restore local banking services after the departure of a national bank left the community unbanked in October 2024. A soft opening is scheduled for May 12th, with a grand opening celebration planned for early June.
For many small, rural communities, a local bank is more than just a place to deposit checks – it’s a cornerstone of the local economy. The closure of the previous national bank’s branch created a significant gap in the community’s access to banking services.
Recognizing the need to fill this void, the Village of Russia and its Council acted fast. The Village initiated a process to purchase the former bank building, while at the same time a search for a new bank was conducted. Determined to find a financial partner that would be committed to the long-term success of the community, Osgood Bank was chosen. The Village of Russia owned the facility for about 60 days before the building was sold to Osgood Bank in early March. Improvements to the building are underway, including the installation of a new ATM.
“It was a disappointment when our local branch closed at a time when our growing community was thriving with new development and projects within the village. We felt it was imperative to search for another financial institution who would best support our local needs and be a true community partner. Our first communication was with Osgood Bank, and we couldn’t be more pleased with their efforts and commitment to the Village of Russia,” said Terry Daugherty, Mayor of Russia.
“Osgood Bank is thrilled to partner with the Village of Russia to bring local banking services back to the community,” said Tony Kaiser, Osgood Bank’s CEO. “We understand the impact that losing a bank can have on a small town. It’s not just about convenience – it’s about trust, relationships, and taking care of each other. We are here to fill that role and become a strong partner to the Russia community.”
The new branch will be led by Lydia Grillot, who has strong ties to Russia and understands its values. “It’s an honor to serve the community where I will be living starting this summer” said Grillot. “People in Russia deserve a bank that knows them by name and understands their unique financial goals. I’m excited to help my future neighbors and friends build a stronger financial future.” Lydia is currently the Assistant Branch Manager at Osgood Bank’s Chickasaw location.
“We are very excited to welcome Osgood Bank into the Village of Russia. They have been a true partner since the very beginning of this journey. Their presence will be a wonderful asset to the village and serve the current and future needs of our community for many years to come,” said Mary Jo High, Council President.
In addition to its financial services, Osgood Bank actively invests in the communities it serves. The bank sponsors several annual tailgate events in each of its communities to support our local schools. The bank also funds Banzai!, a financial literacy program designed to help students develop smart money habits. Through the Osgood Foundation, the bank also supports local nonprofit organizations The bank will be working to identify an annual event that will honor and support Russia schools, businesses, and the community at-large,
“We believe that strong communities need strong local banks,” added Mandy Ranly, Osgood Bank’s Branch Administrative Officer. “We’re not just opening a branch – we’re making a promise to the people of Russia to be here for the long haul, to grow alongside you, and to support your success.”
The location of the Russia location is 207 W Main Street, Russia, OH 45363. Beginning May 12th, the branch will be open Monday through Friday. Stay tuned for more information about Osgood Bank and the new Russia Branch. Do well. Be Good.
About The Village of Russia, OH
Russia is part of Loramie Township in Shelby County, Ohio. The Village of Russia is home to a community that prides itself on a strong work ethic and a deep desire to give back. The village offers all the necessary amenities for living, working, and building a business, including a full complement of utility and public safety services and commitment by village leadership to provide the best support possible.
