On December 2, 1902, a Certificate of Authority to Commence Business was issued, along with 500 stock certificates to our 18 original Central Savings Bank shareholders.
In June of 1904, CSB merged with Chippewa County Savings Bank and business continued at our Ashmun Street location in Sault Ste. Marie.In 1908, CSB’s financial statement declared a total capital of $100,000, with assets totaling $345,198.
On July 20, 1926, CSB assumed the deposits and took over the assets of the Brimley State Bank.
In 1972, CSB opened the doors of our first branch office in DeTour, Michigan.
On November 3, 1975, Central Savings Bank’s Main office relocated to its current location at 511 Bingham Avenue, Sault Ste. Marie, Michigan.
In 1989, we built and opened a branch in Kinross.
In 1990, the 2nd floor was added to the Main office on Bingham Avenue.
Also in 1990, an acquisition brought CSB a branch office in Pickford.
In 1999, CSB acquired branch offices in Rudyard and Cedarville, from North Country Bank & Trust.
In 2001, CSB acquired 2 more branch offices, St Ignace and Mackinac Island, from NCB&T.
November of 2002 marked the grand opening of our second Sault Ste. Marie location, as we opened the doors to our Business Spur branch office at 3501 I-75 Business Spur.
On December 2, 2002, CSB commemorated our 100th anniversary with a drawing for 100 prizes, drawn live on WSOO 1230AM.
In February 2004, Central Savings Bank’s CEO, W.W. “Frenchie” LaJoie was named Michigan Banker of the Year by the Michigan Bankers Association.
In April of 2010, after more that 50 years, 25 as CEO, W.W. “Frenchie” LaJoie stepped down as CEO.
LaJoie is succeeded by Ronald L. Meister, current President and CEO, a CSB employee since 1973.