In 1907, a group of Peninsula residents met and decided their growing community should have the facilities of a local bank. The nearest bank was over an hour away in Port Clinton Ohio.
The Marblehead Banking Company of Marblehead Ohio was organized as a result of this meeting and a charter was granted by the State Banking Department of Ohio on March 6, 1907. The first stockholders meeting was held on May 11, 1907, where Louis St. Marie was elected the bank's first President.
Mr. St. Marie served in this capacity for 26 years and was succeeded by George B. Ward in 1933. Ervin L. Mutach took over as President in 1954 and held that position for 32 years before Clifford A. Wallon was appointed in 1986. David B. King succeeded Mr. Wallon in 1992. William Tuttamore succeeded Mr. King in 2011. The Bank's current President, Anthony Moczynski, succeeded Mr. Tuttamore in 2020.
The Marblehead Bank Company (the word "Company" was officially dropped in 1960) began its operations in 1907 in the St. Marie Building, which now is occupied by Starcher Enterprises. In 1957, the bank celebrated its 50th anniversary by moving into a new facility across the street from the original building. The new structure was of ultra modernistic design but kept a touch of local color by having a limestone face and one limestone interior wall. In addition, the bank featured four teller windows, a night depository, ample parking, and Ottawa County's first drive up teller window.
Changes to the Property Value could change the results in a significant way. Lendersa® sliders allow you to make fast changes to explore your financing options.
You can change the property value by moving the Property Value slider up or down or by entering a new Property Value manually in the Property Value box.
When you change the Property Value, only the LTV will change, and the Loan Amount will remain the same Loan Amount.
Other advanced sliders’ options are available with Lendersa® Advanced Calculator
CloseChanges to the loan amount, even so slightly, could change the results in a significant way. Lendersa® sliders allow you to make fast changes to explore your financing options.
The Loan Amount Slider
Change the Loan Amount by moving the Loan Amount slider. (The LTV will change, and the Property Value will remain unchanged).
The LTV Slider
Change the Loan Amount by moving the LTV slider. (The Property Value will remain unchanged).
Other advanced options are available with Lendersa® Advanced Calculator
CloseLTV is the abbreviation of Loan To Value, and it is the ratio between the Loan Amount and the Property Value. The formula to calculate LTV is Loan Amount divided by the property value. 
Example: Loan Amount $300,000, Property value $400,000 
Changes to the LTV, even so slightly, could change the results in a significant way. Lendersa® sliders allow you to make fast changes to explore your financing options.
The Loan Amount Slider
Change the Loan Amount by moving the Loan Amount slider. (The LTV will change, and the Property Value will remain unchanged).
The LTV Slider
Change the Loan Amount by moving the LTV slider. (The Property Value will remain unchanged).
Other advanced options are available with Lendersa® Advanced Calculator
Close
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NMLS 1795154