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Rating by Finanso™

The rating by Finanso™ is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Central State Bank


Central State Bank began serving customers in Calera, Alabama in February of 1916. During the first 29 years the bank had several ownership changes until Roy Downs was hired in March of 1945. Just two years later Mr. Downs purchased controlling interest of the bank. This event marked the beginning of an era that would change the community of Calera forever.

Mr. Downs’s success in growing the assets of the bank clearly demonstrated his ability as a banker; however it was his leadership in Economic Development that made the greatest impact on the community. His recruitment of new industry helped establish a strong economic foundation for the City of Calera. Mr. Downs lived out a genuine concern and devotion for every business and citizen of the community. Central State Bank’s foundation has been built upon these principles which continue to permeate throughout the Bank today.

Upon the death of Mr. Downs in 1971, Bill Schroeder (Mr. Downs’ son-in-law) was promoted to President and Chairman of the Board. Mr. Schroeder continued Mr. Downs’ tradition of relationship banking. Every employee’s primary focus is to provide friendly and efficient service that exceeds customers’ expectations. Under Mr. Schroeder’s leadership the Bank’s mission was clearly defined: To be the Bank whose community is enriched by its presence and the Bank whose customers would not consider banking anywhere else.

Mr. Schroeder’s children all have leadership roles in the bank and are committed to continuing the established mission and vision of the bank. The family is passionate about preserving the individual care and concern for each customer established by Mr. Downs. This strong foundation allows Central State Bank to keep stride with the growing trends in technology and services while never sacrificing the needs of each individual customer.

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All Central State Bank’s reviews by May 2022