When a community bank has survived and thrived for nearly a century and a half, its next move deserves attention. Belmont Savings Bank (BSB), headquartered in Bellaire, Ohio, is preparing to cross the Ohio River and open its first West Virginia branch in Wheeling — a strategic step that its President and CEO Todd Cover says is rooted in deepening existing relationships rather than just chasing new deposits.
CEOCFO interviews Belmont Savings Bank (BSB) President & CEO, Todd Cover on Bringing their Successful Community Banking to Wheeling, West Virginia
Belmont County has a rich tradition; they have treated us well and we never want to leave Belmont Count… We have been vastly successful in Belmont County over the past 141 years.”— Todd Cover
CEOCFO Magazine, an independent business and investor publication that highlights important technologies, companies, financial and lending institutions, today announced an interview with Todd Cover, President & CEO of Bellaire, Ohio-based Belmont Savings Bank (BSB), a mutual bank with branches and providing services in St. Clairsville, Ohio, Wheeling, WV, Barnesville, Ohio, Moundsville, WV, Powhatan Point, OH and the surrounding Ohio Valley area.
To read the full interview visit:
https://www.ceocfointerviews.com/belmontsavingsbank1026.html
Find out What Makes BSB Different – Watch Video Now:
https://www.youtube.com/watch?v=_OwziOfOrX4&list=PLkTYgNEtekXauB3_nbZ9leyJFuwAnRWNA
In a conversation with CEOCFO’s Editorial Executive Bud Wayne, Cover reflected on the deep bond the bank has formed with Belmont County over generations. “Belmont County has a rich tradition of being great customers to us. They have treated us well and we never want to leave Belmont County. That is where the Bank is headquartered and will continue to be headquartered. It is the home of our bank and we will continue to operate there. We have been vastly successful in Belmont County over the past 141 years.”
When asked about their growing market share, Cover offered a detailed picture of the bank’s competitive position across its footprint. “In Belmont County overall, I believe we are the second largest deposit holding bank, which is good. Within our four branch markets, we have the largest market share in Bellaire. In Barnesville, we are number two. In Powhatan Point, we have become number one, which is a change from the last time you and I spoke. In St. Clairsville, we are number three, but that is a large market, and we are starting to gain some traction there.”
Explaining the decision to expand into Wheeling, West Virginia, Cover pointed to both proximity and existing customer ties. “Wheeling gives us a new opportunity to expand our services. We are right on the river in Bellaire, where I sit, and Wheeling is a ten minute drive away. Some of us live over there, and so it made sense for us to expand into that market. That is how we are thinking about it now; get over there, put some bricks and mortar in place, invest in that community, and also continue to service the four branches that we have built over time. We also have customers that live in Wheeling, so they have to cross the river to get here and sometimes that can be a barrier for people. Therefore, it affords us some opportunity to develop the relationships we have now, deepen those relationships, and see what else we can offer and how we can help.”
Cover also highlighted the financial scale of the Wheeling market and the personal connections that make it a natural fit. “Wheeling is the county seat of Ohio County. It is the biggest city in the Ohio valley. I think the last I looked there was $5 billion of deposit money over there. That is one of the big reasons. Some of us have lived over there and grew up over there. We have relationships there, and we want to deepen those relationships.”
As for the timetable for opening their BSB branch in Wheeling, Cover said, “The conservative timeline is the 1st of December, so just a few months.”
Looking further ahead, Cover shared the bank’s vision for 2027: “Going into 2027, it is about continuing to build what we have built over the past 141 years that our bank has been around. We will get more word out there about what kind of bank we are.”
Read the full interview:
https://www.ceocfointerviews.com/belmontsavingsbank1026.html
Find out What Makes BSB Different – Watch Video Now:
https://www.youtube.com/watch?v=_OwziOfOrX4&list=PLkTYgNEtekXauB3_nbZ9leyJFuwAnRWNA
For more information:
Bud Wayne
Editorial Executive
CEOCFO Magazine
727-480-7070
budwayne@ceocfomagazine.com
Bud Wayne
CEOCFO Magazine
budwayne@ceocfomagazine.com
Why it matters: While large national banks dominate headlines, this expansion underscores how a mutual community bank can leverage a 141-year track record of local trust to grow deliberately into adjacent markets. BSB’s December opening in Wheeling will test whether a relationship-first model can translate across state lines and capture a share of the region’s substantial deposit base.
