In 1922, the Citizens Bank of Freedom, Indiana was organized as a private bank. At the end of the twenties, many businesses had gone bankrupt, including several local banks. Citizens weathered the storm and was given the opportunity to expand and become the county seat bank. On February 4, 1933, the bank opened for business in Spencer. In the same year, the bank was temporarily closed by President Roosevelt's "Bank Holiday". Awarded an "A" rating, the bank reopened as strong as ever. Also in 1933, Citizens was issued a new charter, reorganizing it from a private to a state bank. With this change, the name Owen County State Bank was adopted. Later years have brought branch location acquisitions and other additions to Owen County State Bank. The Gosport State Bank was added as a branch in 1945, and a Coal City Branch opened in 1966. The home office building was expanded in 1967, in 1972 a four bay autobank opened, and in 1989 a second autobank with a full-service automatic teller machine (ATM) went into operation on East Morgan Street. In 1991 a new ATM was installed in Babb's Super Valu, and one was added to our Gosport Branch. Construction was completed in 1996 and the Bank relocated the home office from South Montgomery Street to our current location on East Morgan Street. In July 2008 we opened our first banking center outside of Owen County, with a full service branch in Monroe County, at King's Crossing east of Ellettsville on Highway 46.