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Expansion of the drive-thru from three lanes to five is


an enhancement to customer convenience. “What we did here was address our growth needs over the next five to ten years,” said Townsend. “We have the capacity to almost double the size of the bank with the facility we have now. We have ample room for growth.” In an economy that had most in the financial world tightening the reigns, Townsend saw the glass as half full when developing the project.


“I’m a very optimistic yet realistic person,” he said. “I was tired of hearing about how bad things were. We wanted to make a statement that we have been blessed and the bank is doing extremely well. We have made a committment to this community and I want a building that honors our community, customers and employees.”


Speaking of employees,


Townsend has surrounded himself with a capable and knowledgeable team. Bank president Gary Smith’s banking experience in Grove dates back to 1973. Smith served as president of Grand Lake Bank from 1981 until being the first to joining Townsend’s team in 2004. The bank’s future, too, is in good hands thanks to young guns like Dustin Matthews. Matthews, who serves as the institution’s Chief Credit Officer, is a former Grove High School valedictorian and Oklahoma State University graduate who has been groomed for the banking world since high school. Townsend has secured the future of the bank for staffers like Matthews and the customers they serve by placing it in a trust.


“You would be hard pressed to find a segment of Grove life or the local economy that we don’t touch in some form or fashion—whether it is through financial contributions or direct involvement by employees,” explained Matthews.


“When you live here, eat here and sleep here, you have that connection. You want to make sure you are doing things right so that you can continue to deliver that same type of service for years to come.”


Full-service banking


Bank of Grove is a veritable one-stop shop for banking where customers enjoy a number of features and services. “We’re a full service commercial bank, but our spe- cialty is building relationships with individuals on both sides of the led- ger,” Townsend said. “If they have loan requirements, we’ll meet those as well as their deposit requirements. I like a balanced relationship.”


Along with real estate and auto- mobile loans, Bank of Grove offers safety deposit boxes, Internet banking, bill pay, mobile phone banking and more.


Bank of Grove’s Ed Townsend


“I want this bank to continue to operate here as an independent, locally owned bank,” he said. “It is very important to the economic development of this area to have that.”


Commitment to community is not merely lipservice at Bank of Grove. Yearly contributions from the bank exceed six figures. Numerous local organizations, events and foundations benefit. Beneficiaries of this financial support include: Delaware County Children’s Special Advocacy Network (DCCSAN), Grove Education Foundation For Excellence (GEFFE), Grove Rotary Club Foundation, Integris Taste of Grand, Lobsterfest and more. Many bank employees are actively involved in the


community, often volunteering their own time on organiza- tional boards or at charity functions to serve a good cause.


“As far as products, I can’t think of anything we don’t do. We offer all of the modern banking services you associate with the largest institutions, but with the personal touch,” offered Townsend. “We’re large enough to take care of all of our customers’ banking needs, but small enough to really care and know our customers individually.” Adds Townsend: “When custom- ers walk in this lobby they are greeted by their first name and I want to keep that kind of approach to our market- place. I also want them to feel like they


own the place. It’s very important to me that they feel that pride. Relationship building is the primary key that drives us. We build friendships with our customers.” Good banking is also characterized by responsibility and accountability. Townsend understands those principles. “We have a culture here of doing things the right way.


We won’t compromise the regulatory process and we don’t compromise our integrity,” he said. “We have to continue to do things right in terms of managing credit risk, otherwise the bank doesn’t survive. Everyone makes mistakes. Sometimes good loans turn into bad loans, but you don’t make a bad loan to start with, not deliberately, because you can’t survive. A dollar made here is a dollar made and a dollar lost is a dollar lost. It’s one


(continued on page 14)


August 2012 5


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