Ohio's First Local Bank In 10 Years Opening In Bexley
Ohio's first new bank since the Great Recession opens its doors in Bexley on Monday.
Ohio State Bank's location on Main Street is a temporary one. President Dave Mallett says they'll be there for about a year before moving into a permanent branch on the same street.
He says increased population growth, economic diversity and increased wealth in the area makes now the right time.
"With that really strong economic base we all live in, we've also seen the banking sector for community banks hollowed out," Mallett said.
The bank plans to expand to a second branch in Upper Arlington in the next three years.
Mallett says they aren't just the first new community bank in the state since the 2008 economic crisis, but the first in the six states that comprise the Chicago region of the FDIC.