BELO — The hometown feel and local community connection is what separates Bank of Mingo apart from other financial institutions, according to President and CEO Josh Stowers.
Established in 1976, Bank of Mingo is an FDIC-certified banking institution that primarily targets residents of Mingo County, but also provides services for other surrounding counties as well.
“It’s a community bank in every sense of the word,” Stowers said. “Its mission is to provide financial services to the citizens of Mingo and the surrounding areas — not just Mingo County, but into Pike County, Kentucky, Logan County, and Wyoming County, what’s considered our, in the banking world, our CRA area that we’re meant to serve — but it is a community bank in every sense of the word and we try to be that hub of need if a need needs to be met, whether it’s personal or business.”
Like any bank, Bank of Mingo offers customers personal checking and savings accounts. Bank of Mingo also offers an array of other services like certificate deposit products, commonly known as CDs; personal loans for vehicles, mortgages, and other things; and business checking accounts and financing.
“That seems to be a hot topic in southern West Virginia now for a lot of folks that want to try to tap into the Hatfield-McCoy market with some of the lodging, whether its cabins or things of that nature,” Stowers said. “People might need some financing to help get some of those businesses off the ground. We’re here to try to help in any way we can with regard to that.”
Bank of Mingo also has a loan production office in Charleston with a commercial lender that serves the Kanawha Valley and even some into the Huntington and Ashland area.
When asked what he feels makes Bank of Mingo unique, Stowers said it’s the personal touch the institution offers, noting that most of the employees inside the branches are from the area.
“When someone walks in the door or someone calls the bank, they’re going to be able to speak to someone that is from Mingo County, from the area,” Stowers said. “Not only when they first call, but if there’s ever an issue, whether it’s with an account or whether it’s a loan and more than likely, that person is going to know who they are. They’re going to either know them personally or they’re going to know exactly where their house is. They’re going to know that individual or their family and they’re going to have a personal contact that you’re not going to get in a lot of places, and I think that’s important to people. A lot of banks offer the same services, but I think the personal touch and the fact that you’re going to be able to pick up the phone and talk to someone in the bank that’s from the area, that understands the area, and knows who you are personally and knows your personal situation, it goes a long way to make that a valuable product for people.”
Bank of Mingo has three physical branch locations — their main one at Belo off U.S. 119 near the W.Va. 65 exit, one in Gilbert, and one in Delbarton. For remote access to many services, the bank offers online services through www.thebankofmingo.com and a smartphone app. Additionally, each branch offers overnight drop deposits and numerous ATMs are located around Mingo County.
Looking to the future, Stowers said Bank of Mingo is looking at ways to expand their footprint and offer additional services in a fast-changing world.
“We are in a really good position in terms of our finances to look down the road and see how we can potentially grow, which will allow us to serve our customers better,” Stowers said. “I think that down the road, in the not-so-distant future, I think you could see us expanding our footprint in other surrounding counties, potential branch locations, not only to grow and support the business of the bank, but I think as the bank grows, as the bank becomes more successful, we can just be more responsive and offer better services and more services to the communities that we exist in.”
