Mid-Southern Bancorp Inc. (MSVB)

Overview

Mid-Southern Bancorp, Inc. serves as the parent company for Mid-Southern Savings Bank, FSB, providing a broad range of banking solutions to both individual and business clients. The company operates primarily through its headquarters in Salem, Indiana, and extends its services through branch offices in Mitchell and Orleans, Indiana, as well as loan production offices in New Albany, Indiana, and Louisville, Kentucky. Founded in 1886, Mid-Southern Bancorp, Inc. has a long history of serving the banking needs of its community.

Products and Services

• Deposit Products:

  Mid-Southern Bancorp, Inc. offers a variety of deposit products to cater to the needs of its customers. This includes checking, savings, money market, and demand accounts, along with certificates of deposit and term deposits. These products are designed to provide flexibility and value to both individual and business customers, ensuring their money is accessible yet can grow through competitive interest rates.

• Loan Services:

  The company provides a comprehensive suite of loan products, including:

  • Loans secured by first mortgages on one- to four-family residences, offering home equity loans and lines of credit for homeowners looking to borrow against the equity in their property.
  • Commercial and multifamily real estate loans, supporting businesses and investors in financing property purchases or refinancing existing properties.
  • Construction loans for single-family residences, catering to individuals looking to build their dream home from the ground up.
  • Land and lot loans for the purchase of undeveloped land or lots, enabling buyers to secure the perfect location for future development.
  • Commercial business loans designed to provide the necessary capital for businesses to expand, invest in new equipment, or manage cash flow effectively.
  • Consumer loans for new and used manufactured homes, automobiles and trucks, boats, and motorcycles, as well as recreational vehicle loans, meeting the diverse needs of consumers for personal transportation and leisure.
  • Loans secured by savings deposits and other personal loans, offering secured lending options for customers requiring additional funds.
  • Unsecured consumer loans, providing quick access to financing without the need for collateral.
  This comprehensive range of loan products ensures customers have access to the financial resources they need, whether it's for personal, residential, or business purposes.

• Investment Securities Portfolio:

  In addition to its deposit and loan services, Mid-Southern Bancorp, Inc. manages an investment securities portfolio. This portfolio is composed of various securities, enabling the company to generate additional income and diversify its revenue sources. It reflects the company’s strategic approach to investment and risk management, aiming to balance returns with the need for security.