09 Dec Terre Haute Savings Bank Celebrates 150 Years Serving The Wabash Valley
Terre Haute Savings Bank, a local community bank in business since 1869, is celebrating 150 years of supporting consumers and businesses in the communities which the bank serves with eight branch locations in Vigo and Clay counties.
To celebrate the 150-year landmark THSB has increased its annual support to community not-for- profits, including CODA, Chances and Services for Youth (CASY), Vigo County Education Foundation, and United Way among many others. In addition to supporting individual organizations, THSB helped
develop and support the “Hot Dogs & Cool Cats Pet Rescue Event” in which all Wabash Valley pet rescues were invited to participate.
Bart Colwell, President of THSB, explained “Because THSB is a community bank that is focused on Believing in the Valley, it was an easy choice to expand its support to community not-for-profits to help celebrate our 150th anniversary. Our employees volunteer in many community organizations because we take seriously the idea that if our community is to be a great place to live, we have a responsibility to help make it so.” Colwell went on to say, “THSB employees throughout the years have left a foundational legacy of service to our customers and our community that each successive generation of employees has built upon. THSB has been in business for 150 years because of dedicated employees who are passionate about meeting the needs of our customer base that is loyal to THSB. We are very grateful for our staff and for customers who support THSB.”
Since THSB’s inception by six Terre Haute businessmen on November 10, 1869, the historical timeline reflects its growth and service to the community:
December 1, 1869 – THSB welcomes its first customers to the banking room, which was quartered in the offices of Prairie City Bank, a commercial bank. When Prairie City closed voluntarily, Terre Haute Savings bank continued to do business in the same banking room.
January 2, 1882 – THSB approved the purchase of land on the corner of Ohio and Sixth streets along with plans for a four-story banking house.
February 6, 1911 – Indiana’s state auditor approved plans for a six-story building on the same site. The building was shared with Levin Bros., a wholesale notions company.
September 10, 1958 – Each of the eight teller windows had been equipped with its own cash drawer, and THSB established a savings program to teach school children the value of saving. Youngsters learned banking basics by opening their own savings accounts.
September 1968 – The Loan Department expanded after Levin Bros. discontinued business and vacated the portion of the first floor that they shared with THSB. Also, THSB installed computers, 24-hour automatic teller machines, and the first two of their seven TV tellers.
July 15, 1972 – THSB announced the demolition of the top five floors of the bank building. The section was carefully removed as business continued on the first floor. The bank stayed open during the entire project.
October 19,1989 – The bank celebrates its 120 year anniversary by expanding and renovating both the inside and outside of the building. Improvements included a new façade, a larger southeast entrance and a redesigned customer service area.
1999 and 2004 – THSB celebrates the opening of its second and third locations respectively. The South Branch, located on US 41 across from Lowe’s was opened in 1999, and the Riley Branch was opened in 2004.
Between 2007 and 2017 – Five additional branches were opened: in North Terre Haute on Lafayette Avenue; in Brazil on National Avenue; at the corner of Poplar and 25 th Street in Terre Haute; inside Westminster Village; and in West Terre Haute on National Avenue.
July 2013 – THSB opened its first electronic branch, the eBranch, to better serve its customers’ various electronic banking needs.
In planning for the future, THSB will continue to “Believe in the Valley” as it serves consumers and businesses in Vigo and Clay Counties by providing personal attention, offering a selection of traditional and electronic banking products and services to meet the needs of its customers, employing a staff that is well trained in customer assistance, and by remaining committed to investing time, talent and treasure to community organizations.
To celebrate THSB’s 150 th anniversary, the bank will be surprising five local not-for-profit organizations with $1,000 donations to each during a special THSB Week of Giving beginning December 2, 2019. The anniversary celebration will culminate with a public open house at all THSB locations on Monday, December 9, 2019 from 10:00 a.m. to 2:00 p.m.