CHELSEA – Chelsea State Bank is pleased to welcome Joanne Rau as the Bank’s new President. Rau stepped into her new position on Oct. 1. David Schaible is now President ex officio and will retire in the first quarter of 2020. John Mann remains Chief Executive Officer.
“I am so excited to join Chelsea State Bank and begin a new chapter in the rich history of this community bank,” stated Chelsea State Bank President Joanne Rau. “Chelsea State Bank has a solid reputation for taking care of our clients, employees and the communities we serve. It’s refreshing to hear clients tell me how they appreciate the attention they receive from every department at the bank; it’s a true relationship. The team approach to service is remarkable and greatly appreciated by our clients; it’s what sets us apart from other banks.”
Rau joins Chelsea State Bank with 19 years of distinguished banking experience. She has spent the last 15 years moving into executive positions at Fifth Third Bank (Cincinnati, Ohio) and most recently Senior Vice President and Business Banking Executive.
“I’ve been in the Chelsea area for several years and it gives me great pleasure to now work in the community in which I live,” said Rau. “My kids have had accounts at Chelsea State Bank since they were born because it’s local and how important they are made to feel with each birthday deposit. Chelsea State Bank has always been one of my favorite community banks…it feels wonderful to be part of the team!”
Rau began her banking career as a Credit Analyst with Bank One Corporation in the Ann Arbor market and soon moved into commercial lending. She then worked as a Business Development Officer with Crestmark Bank in Troy before joining Fifth Third Bank in 2004 as Assistant Vice President in the Correspondent Banking Group, where she called on community banks, including Chelsea State Bank. Rau steadily moved up the executive ranks at Fifth Third, specializing in small business and middle market commercial banking, including leadership positions within the Southeastern Michigan Region, and into her current position as Senior Vice President, Business Banking Executive overseeing the Great Lakes Region for Fifth Third Bank.
A proud native of the Mount Pleasant area, Rau received her Bachelor of Business Administration from Eastern Michigan University. Rau is currently an Executive Committee Member of Ann Arbor SPARK, previous Power of the Purse Chair for United Way of Washtenaw, and previous board member and mentor of Winning Futures. She resides in the Chelsea community with her family.
“We are all enthused to welcome Joanne into our Bank as our new President,” stated Chelsea State Bank Chief Executive Officer John Mann. “Joanne and I have known each other professionally for 15 years. She has an extensive and impressive leadership career in banking and with children in the Chelsea School District, she is embedded in our community. We are also excited to change the course of our history as we have had all men and all Schaible’s and Mann’s appointed to this position since 1921!”
With a history of serving the local communities for over 120 years, this is the first time in 98 years of the Bank’s rich history that someone other than a Schaible or a Mann will lead the Bank as President. Currently each family has a junior leader represented in the Bank – Human Resource Director Emily Schaible and Credit Analyst Stuart Mann. The Schaible-Mann beat goes on.
“Joanne joins an already great team,” said Mann. “Her expertise in banking including leadership, planning, and team building – coupled with her community involvement – will position Chelsea State Bank for continued long-term success. Change creates positive energy, and we are tremendously excited for our future at the Bank and in our communities.”
About Chelsea State Bank
Chelsea State Bank is a full-service financial institution with offices in Chelsea and Dexter. The Bank was formed over 100 years ago by local business leaders to provide timely financial solutions to individuals, families and businesses in the community. This tradition of community service continues today. For more information, please call 734.475.1355 or visit www.chelseastate.bank. Member FDIC.