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Dollar Bank Buys Beachwood, Ohio Office Building

October 8, 2010

Purchase is the Latest Expansion Effort in Northeast Ohio

Dollar Bank's latest expansion effort in Northeast Ohio is the acquisition of the former Ohio Savings Building located on Chagrin Boulevard just off of I-271. The 30,000 square foot, three-story office building was purchased from AmFin Real Estate Investments on October 8, 2010.

"For more than a dozen years, we have been searching for a suitable location in the Chagrin Boulevard area," said Andrew Devonshire, President of Dollar Bank, Ohio. "As we have watched our customer base continue to grow in this area over the years," he added, "we wanted to respond by providing a convenient, full-service banking center that can meet all the banking needs of the residents and businesses in this part of Greater Cleveland."

"I am very excited about this purchase," explained Devonshire, calling it "another example of Dollar Bank's commitment to serving the people and businesses of Cleveland and Northeast Ohio."

Just two years ago, Dollar Bank demonstrated its long-term commitment in a big way by building a 21,000 sq. ft. glass-enclosed, two-story headquarters branch complete with a Private Banking Center and training facility in the Galleria at Erieview in downtown Cleveland. That same year, the bank opened a new branch at Public Square in the historic Park Building.

Several years earlier, Dollar Bank refurbished its Clark/West 25th Street branch adding a Financial Education Center catering to the needs of Cleveland’s Hispanic population.

"Our commitment is to the entire region," explained Devonshire, noting that the bank opened a new branch in Mayfield in 2007 and a Private Banking Center in Hudson in 2009. Earlier this year, the bank opened a new branch in Painesville Township and will open a new branch in Avon before yearend.

All told, Dollar Bank presently operates 28 offices throughout Northeast Ohio.

About Dollar Bank

With assets of $5.8 billion, Dollar Bank is the largest independent mutual bank in the United States, employing more than 1,140 people in Northeast Ohio and southwestern Pennsylvania.

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