Sandusky, OH — GenoaBank partnered with the Erie County Port Authority to cooperatively support its new construction project at 3911 Milan Road in Perkins Township through a capital lease agreement executed on Monday, May 4.
This capital lease structure, facilitated by the Erie County Port Authority, enables GenoaBank to realize cost savings on construction materials, enhancing the project’s overall financial efficiency during development.
The project represents an investment of more than $3 million and includes 3,700 square feet of new space. The development is expected to create new jobs and drive meaningful economic growth by expanding access to small business lending, consumer retail lending, and mortgage and development financing. Together, these efforts will help strengthen the local economy, support workforce development, and reinforce our role as a committed community bank invested in the long-term success of the area.
This will be the company’s eleventh full-service branch featuring three drive-up lanes, a drive-up ATM, and a full-service banking environment designed to meet the needs of both personal and business customers. Office space will allow for private consultations on commercial lending, investment service and mortgage financing.
Marty Sutter, President and CEO of GenoaBank, stated, “We are extremely excited to establish a physical presence in the Sandusky community as part of our long‑term commitment to the families, businesses and farmers we serve. At GenoaBank, our mission has always been rooted in exceptional customer service, accessibility, and building lasting relationships. This new location represents more than a building — it reflects our continued investment in the future of Sandusky and our dedication to growing alongside the community. We look forward to serving generations of customers from this new facility for many years to come.”
GenoaBank is a community bank headquartered in Genoa, Ohio, serving customers throughout Northwest Ohio and Southern Michigan. The bank offers a comprehensive suite of personal and business banking services and remains firmly committed to enhancing the financial well‑being of the individuals, businesses, and communities it serves.
The Erie County Port Authority, administered by the Greater Sandusky Partnership, works with businesses and communities to support development through financing tools such as capital leases and conduit bond financing.
“The capital lease is a tool that can improve project feasibility by reducing construction costs,” said Matt Lasko, Chief Development Officer for Greater Sandusky Partnership. “For projects like this, those savings can be meaningful in helping advance investment decisions and timelines.”
About the Erie County Port Authority
The Erie County Port Authority is a public entity established in 2011 by the Erie County Commissioners to support economic development across Erie County and the surrounding region. Administered by the Greater Sandusky Partnership, the port authority provides financing tools such as capital lease programs and conduit bond financing to help businesses and developers invest in facilities, equipment, and infrastructure. Through these tools, the Port Authority works to facilitate capital investment, support job creation and retention, and strengthen the region’s economic vitality.
About GenoaBank
GenoaBank, founded in 1902, is now in its second century of providing a broad range of banking services to business and private customers in Lucas, Wood, Ottawa, and Sandusky Counties.
The bank has assets of $740 million and operates branch offices in Genoa, Elmore, Fremont, Maumee, Millbury, Oregon, Port Clinton, Rossford, Sylvania, and Downtown Toledo Ohio.
