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For over 100 years, Chelsea State Bank has been the community’s trusted financial resource; a safe, sound, FDIC-insured bank with strong and deep local ties. Our site will acquaint you with a wide range of financial services and products available.

Our people are the heart of Chelsea State Bank. On behalf of the officers, management, and staff, I cordially invite you to stop by one of our two Chelsea locations, or our location in Dexter. Bring your financial questions or concerns and our friendly and professional staff will serve up the answers (along with a cup of coffee!) 

Life is complicated — but banking doesn’t need to be!

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Senior Management & Board


John K. Mann – Chairman, Retired President & CEO, CSB
Joanne K. Rau - President & CEO, CSB
Mary Lee Penney – Retired Executive Vice President, CSB
Craig R. Common – Retired Owner, The Common Grill
Mark F. Heydlauff – Owner, Heydlauff’s Appliances & Electronics
Nancy G. Graebner-Sundling – Retired CEO, St. Joseph Mercy Chelsea Hospital
William B. Holmes – Vice President, Chelsea Milling Company
David M. Schaible – Retired President, CSB
Doug Sutton, Private Equity Investor, Whitehall Equity
Scott Holmes, Partner at Foley Masfield's Detroit



Bank Officers

Joanne Rau - President & CEO
Mark A. Burmis – Senior Vice President – NMLS ID 401631
Jessica M. Stubbs – Executive Vice President & CFO
Thomas DuMont - Senior Vice President
Patrick M. Couture – Vice President
Mark V. McCulloch – Vice President
James L. Wolfington – Vice President
Dennis M. Katakowski – Vice President
Patrick Cavanaugh - Vice President
Dawn M. Kalusha – Vice President – NMLS ID 441382
Nancy J. Weir – Vice President
William Bacon - Vice President
Nancy A. Zander – Banking Officer – NMLS ID 1310918
Emily Schaible - Banking Officer
Stuart Mann - Banking Officer 
Teresa Beegle - Assistant Vice President 
Heather Turnbow - Banking Officer  
Angie Cavanaugh- Vice President 
Carie Tillman- Banking Officer - NMLS ID 1560785                                                                                                                          
Alex Smith- Banking Officer
Nicole Bell - Banking Officer
Erin DuBois - Vice President - NMLS ID 685690
Mark Stevens - Banking Officer

The Chelsea State Bank Story

Chelsea State Bank began in true family and community spirit.

December 1897

Reuben Kempf and Charles H. Kempf were brothers who founded R. Kempf and Brother in 1876. On December 18, 1897, a new financial institution was created when a diverse group of twenty-one Chelsea investors joined in the purchase of four hundred shares of bank stock. Articles of Incorporation were filed, a State banking charter was obtained, and with an initial capitalization of $40,000 Kempf Commercial and Savings Bank opened for business on January 17, 1898.

April 1908

A large group of Chelsea area farmers and merchants joined forces, and Farmers and Merchants Bank of Chelsea was granted a charter by the State in April 1908. 

The first directors of the Farmers and Merchants Bank were John F. Waltrous, Peter Merkel, Christian Grau, Lewis Geyer, Joseph H. Guthrie, C.H. Kalmbach, John Kalmbach, Orrin C. Burkhart, and John Farrell. Paul G. Schaible, Sr. helped organize the bank and he served as head cashier and sole employee of the bank in its early years.

Both of these Chelsea banks flourished over the next two decades.

America’s Great Depression — Chelsea’s Great Opportunity

The country fell on hard times in the early 1930s, and throughout what is now known as The Great Depression, countless banks across the nation failed.

Although both Chelsea banks were conservatively managed and healthy, they decided that merging forces and operating as one institution was both practical and prudent. On February 24, 1934 the two banks formed Chelsea State Bank “for the purpose of greater efficiency and economy of management, as well as for the general welfare of said corporation and the community wherein they transact business.”

Paul G. Schaible, Sr. (once a head cashier) was named Bank President, a leadership role he would maintain for 28 years, until Paul E. Mann succeeded him in 1962. Chelsea State Bank became a member of the newly formed Federal Deposit Insurance Corporation (FDIC) in 1935 with deposits insured to $5,000.

February 1968

The bank grew as the Village of Chelsea and its neighboring communities prospered. It continued to operate out of the stone Glazier building at South and Main until the need for modern drive-up banking services and expanded facilities necessitated a move.

Committed to the downtown area for its headquarters, the southeast corner of Main and Orchard was elected to be the site of its new building. A new and modernized Chelsea State Bank opened for business in its new quarters in February 1968 with assets totaling $15 million. The stone building which had served as the bank’s home for 41 years was granted to Washtenaw County for use as a District Court.

Three Decades and Growing

Over the next three decades, Chelsea State Bank would continue to grow steadily and prosperously, paralleling and reflecting the growth of the Chelsea community and its surroundings. In 1980, with assets now totaling $48 million, a branch office opened at Old US 12 and S. Main. In 1993, this site became the location of a 17,000 sq. ft. bank headquarters building.

In 1997 a complete renovation of the former Chelsea State Bank headquarters at Main and Orchard was completed, once again demonstrating the bank’s commitment to a vital and dynamic downtown Chelsea. 1997 also marked the bank’s 100-year anniversary and the celebration of the century took place that summer. The bank marked the beginning of its second century by generously pledging $250,000 for the creation of the Chelsea Community Foundation.

The Second Century and a New Millennium Begins

The year 2000 featured the opening of the Dexter Banking Center — the bank’s first branch office outside of Chelsea.

By June 2007, the bank’s assets had grown to $200 million — a long way from the $40,000 it first held in public trust in 1897. Financial growth and longevity come through consistently conservative business methods and fair, courteous, and honest treatment in every transaction. Chelsea State Bank’s technology may have brought about great changes in banking, but these operating principles and values will never change.

The Chelsea State Bank Story is your community story and we are your community bank. With over 120 years of dedicated service, we remain committed to our families, our businesses, and our local communities. We optimistically move into the second decade of our second century. The best of Chelsea State Bank is yet to come.

CSB History Changes Course in 2019 & 2020

In 2019, the history of Chelsea State Bank changed course when Joanne K. Rau accepted the role of President and succeeded David Schaible. On January 1, 2021, Rau became the President and CEO of Chelsea State Bank. She is the first woman to hold these positions at the Bank, as well as the first non-Mann or Schaible appointed as president of Chelsea State Bank since 1921.

Another significant event changing the course of history for Chelsea State Bank, as well as the world, was the COVID-19 pandemic that began in early 2020. Throughout its history, Chelsea State Bank has built its reputation on helping customers and communities during robust economic times, as well as critical times, such as 2020.

During this time of adversity, CSB renewed its commitment to employees, customers and the community by making a difference and remaining resilient during these challenging times. The Chelsea State Bank team quickly adapted to a changing work environment and rose to the challenge to accomplish the extraordinary from notarizing documents in the drive thru to remote work within five days.

In addition, Chelsea State Bank also made headlines within the region due to the positive impact the Bank made with the Paycheck Protection Program (PPP) loans processed through the Small Business Administration. The PPP loans were a brand-new product with rules changing on the fly. Yet the Chelsea State Bank team worked tirelessly to ensure the needs of customers, large and small, were met. After existing customers were taken care of, Chelsea State Bank found many more new customers to help. In total the Bank made $40 million in new PPP loans in 2020.

While the pandemic created much uncertainty and headwinds, Chelsea State Bank experienced significant balance sheet growth in 2020 with total assets of $379 million on December 31, 2020. This represented a year-over-year increase of 28%, driven by loan and core deposit growth of 22% and 30%, respectively. In April 2020, Rau was elected to the Bank’s Board of Directors. As of January 1, 2021, Rau succeeded John Mann as Chief Executive Officer, and now serves as President and CEO. As of December 31, 2021, Chelsea State Bank experienced another year of significant balance sheet growth with total assets of $438 million.

2022 Marks 125 Years

In 2022, Chelsea State Bank celebrates its 125th anniversary as the community bank in Chelsea and the surrounding communities. The Bank has grown significantly over the years, and we are grateful to our communities for our success. Whether a personal or business customer, or a resident of a surrounding community, everyone has played a role in nurturing the growth of Chelsea State Bank for the last 125 years. At Chelsea State Bank, we will remain committed to our core values while aspiring to be Michigan’s premier independent community bank, where banking is simple and relationships matter.

The Chelsea State Bank Story is your community story, and we are your community bank. With 125 years of dedicated service, we remain committed to our families, our businesses, and our local communities. We optimistically continue to move into the future as your community bank. The best of Chelsea State Bank is yet to come.

Our Vision, Mission, and Core Values


To be Michigan’s premier independent community bank, where banking is simple and relationships matter.


Chelsea State Bank, your community bank, will enrich the communities we serve by giving of our time and resources, while providing exceptional service and stable progressive solutions. We are committed to your success today and tomorrow.

Core Values

  • Respect - Treat others as we wish to be treated
  • Integrity - Be honest, transparent and committed in everything we do
  • Service - Provide exceptional service to our customers and communities
  • Inclusion - Foster a cohesive team where all have a sense of belonging
  • Accountability - Take initiative and ownership of our decisions, actions and results