Ottawa Bancorp Inc. (OTTW)

Overview

Ottawa Bancorp, Inc., functioning as the parent company for OSB Community Bank, embodies a financial institution dedicated to serving both individual and corporate clientele in Illinois. Commencing its operations in 1871, it transitioned from Ottawa Savings Bancorp, Inc. to its current name in October 2016, signaling a continued evolution in the banking sector. The organization's headquarters are strategically situated in Ottawa, Illinois, positioning it to cater effectively to the financial needs of its community through a wide array of banking products and services.

Products and Services

• Deposit Products
  

  OSB Community Bank extends a comprehensive selection of deposit products aimed at facilitating seamless financial management and savings enhancement. This suite includes savings accounts, checking accounts, money market accounts, and interest-bearing accounts, alongside a variety of certificate of deposit options, tailored to meet the diverse preferences and requirements of its customers.

• Loan Portfolio
  

  Reflecting a commitment to support personal and commercial aspirations, its diverse loan offerings encompass commercial loans, non-residential real estate loans, loans for one-to-four family residential properties, multi-family residential loans, and consumer direct loans. Additionally, customers can avail of purchased auto loans, business and construction loans, as well as financing options such as motor vehicle loans, home improvement loans, share loans, personal unsecured loans, home equity loans, small personal credit lines, mortgage loans, and student loans. This varied loan portfolio is carefully structured to address the financing needs across a broad spectrum of requirements and scenarios.

• Cash Management Solutions
  

  To optimize operational efficiency and financial fluidity for its corporate clients, the bank provides advanced cash management tools. This includes the convenience of remote deposit capture, automated clearing house services with payroll direct deposit capabilities, and comprehensive merchant services. A focus on these services underlines the bank's dedication to enhancing business operations through effective financial management.

• Commercial Leasing Services
  

  Extending beyond traditional banking products, Ottawa Bancorp, Inc. offers commercial leasing options, serving as a testament to its adaptive approach in meeting the evolving financial needs of businesses seeking to lease rather than purchase assets.

• Additional Services
  

  In its quest to serve as a one-stop financial hub, the company provides a suite of complementary services aimed at enriching customer experience and convenience. These include notary services, lamination, night depository facilities, document faxing, money gift envelopes, safe deposit boxes, and coin counting services. Moreover, the availability of both debit and credit cards, alongside expansive digital banking solutions, reflects the bank's commitment to embracing technological advancements in banking.