Andover Bancorp, Inc. (the “Company”), the parent holding company of The Andover Bank (the “Bank”), today announced the completion of a private placement of $10.0 million aggregate principal amount of its 3.625% Fixed-to-Floating Rate Subordinated Notes due December 1, 2031 (the “Notes”) to various qualified institutional buyers and accredited investors (the “Offering”). 

Andover Bank has earned the highest overall rating of Outstanding from the Federal Reserve Bank of Cleveland for its performance under the Community Reinvestment Act (CRA).    

Andover, Ohio -- Stephen E. Varckette, President of Andover Bancorp, Inc., of Andover, Ohio, the holding company of Andover Bank, announced that the company paid on July 1, 2021 a dividend of $0.37 per share of common stock for the first half of 2021.

Sean Dockery fills the new position of Senior Vice President of Commercial Banking.

Andover Bank announced today that Robert Taylor has retired from the bank’s Board of Directors.