Community values continue steering it
A bank that started in Cambridge City is among the oldest family-owned commercial banks in Indiana, celebrating its 140th anniversary with customer appreciation activities on the next three Fridays.
People who stop in at any of the bank branches will be treated to “tasty treats” on Aug. 12, 19 and 26. The Cambridge City branch will be actively celebrating during Canal Days on Sept. 10. More anniversary activities are being planned in December.
The bank’s message is that while it is forward looking, it operates with the same values as its founders did in 1882 – Community, Integrity, People, Sustainability. It is a commercial bank with a focus on small businesses.
“By definition, we are a community bank,” said Mike Gaddis, a 31-year employee who became the bank president and chief executive officer in 2020. “A large part of what we do is reinvest back into the community. Our employees live here, our decisions are made locally – we don’t have to call New York for an answer. And we know the community.”
The bank’s involvement in Wayne County included this year’s commitment to the Boys and Girls Clubs of Wayne County, donating $200,000 for the club’s Western Wayne unit that began operations in the former Pershing school last August.
In Richmond, the bank helped start a drone program – one of the first in the state – for the Richmond Fire Department. It has been a main sponsor of buying and training K9 officers for the Richmond Police Department. The bank supports numerous sponsorships for various organizations.
The bank brought the ATHENA program to Wayne County, in partnership with Indiana University East. It recognizes local women for their leadership in the community.
“It is an opportunity to say ‘look at these women who are doing so much,’” Gaddis said. The bank is 100% owned by the same family that founded it. The family’s sixth generation of owners is comprised of three women. “This program just seemed appropriate in recognition of what the family has meant for the bank.”
The bank is built on relationships, Gaddis said. “Banking continues to change. What people look for in a bank has changed so much. There was a time when people said that brick and mortar (offices) were going away. And that works great – until you need something where you can talk to a person. We take pride in our online and mobile features, but will always be there to chat face-to-face and maintain real relationships with our customers.”
Wayne Bank began in 1882 as Western Wayne Bank in the brick building at the southwest corner of Greene and Main streets in Cambridge City. Today, the Cambridge City office is located on the northeast corner of the same intersection. The bank had several name changes over the years and became Wayne Bank and Trust Co. in 1975.
The Indiana Bankers Association estimates that only 19 banks in Indiana share the distinction of family ownership. IBA has 91 member banks.
The original owners included a father and son, Abiram Boyd and James A. Boyd, and sons-in-law John R. Smith and Lewis T. Bond. Five generations of the family actively led the bank for 128 years: Alonzo H. Boyd Jr., grandson of James A. Boyd, served as president from 1968 until his death in 2010.
In 1981, the bank opened a branch in the Gateway Shopping Center in Richmond. Two years later, it opened at Waytru Plaza, 500 South A St., in downtown Richmond. That building also serves as the bank’s administrative office.
Learn more about the bank’s 140 years at WayneBankOnline.com/140-years.
Wayne Bank celebrating 140 years
