According to the report, the move is part of a wider brand overhaul, which will see the company rebrand itself with a new logo, website and tagline.

Based in the bank’s former headquarters in downtown Delaware, the new private banking unit will be led by Barbara Walters, a senior vice president.

Ron Seiffert, chief executive, reportedly said that the bank’s strategic plan also includes raising capital and bolstering the executive team. Between 10 and 20 per cent of the bank’s existing clients would qualify for its private banking services, he said. 

The Delaware County Bank and Trust Company is a wholly-owned subsidiary of DCB Financial.