Brian A. Smith, a lifelong Springfield resident, was named bank president. A Kenton Ridge graduate, Smith earned a degree in business administration from Urbana University.
Both Smith and Steinlage said the industry is facing rapid changes as customers increasingly bank online. Being a small, locally-managed bank will bring both benefits and challenges, they said. New Carlisle Federal has three branches total covering Springfield, New Carlisle and Tipp City, and about 30 employees.
“I like the independence of the small, locally-owned bank and the interaction we have with customers,” Steinlage said.
That allows the bank to develop a more personal relationship with its customers and respond more quickly when small businesses or other customers have questions about a potential loan, Steinlage said.
One of the challenges is that although the bank can offer the same services as larger lenders, smaller banks typically don’t have the marketing resources to promote their products, Smith said. That means its important to be more active in the community and build a reputation by word of mouth.
It also means the bank has to work hard to attract and maintain good employees to remain competitive and offer the best service to customers, Smith said.
“We’re a smaller bank so we don’t have many chances to miss,” Smith said. “We have to hire right the first time.”
Smith is expected to graduate from the Graduate School of Banking in Boulder, Colo. later this year. Smith also completed the Ohio Banker’s League Bank Management School in 2013 and has been elected to the Ohio Bankers League Next Generation Advisory Board.
Smith said he worked in a larger bank before taking a job with New Carlisle Federal Savings, but liked the idea of working at a smaller bank.
“I could see the flexibility and their ability to work more closely with customers,” Smith said.
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