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FOR IMMEDIATE RELEASE                  Contact: Bill Teets at (614) 644-7187  
June 29, 2000                                                   or Dennis Ginty at (614) 644-9564

 

DEPARTMENT OF COMMERCE CHARTERS INDIAN VILLAGE COMMUNITY BANK

F. Scott O’Donnell, Superintendent of the Ohio Department of Commerce’s Division of Financial Institutions, announced today the application approval for Ohio’s newest state-chartered savings bank – Indian Village Community Bank, 100 South Walnut Street, Gnadenhutten.

Superintendent O’Donnell issued the Certificate of Authority to Commence Business today. The financial institution was previously chartered by the Office of Thrift Supervision as a federally chartered savings and loan.

In making the announcement, Superintendent O’Donnell said, "The Division of Financial Institutions looks forward to working with Indian Village Community Bank as it continues to provide financial services to the communities it serves."

The savings bank, with $64.3 million in assets, has a branch office located at 635 West High Street, New Philadelphia.

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The Ohio Department of Commerce’s Division of Financial Institutions regulates financial institutions chartered in Ohio. The superintendent serves as chief executive officer of the division and four deputy superintendents oversee the sections of Banks, Savings and Loans/Savings, Credit Unions, and Consumer Finance. In addition to financial institutions, Commerce also regulates securities, industrial compliance, fire codes, unclaimed funds, and real estate, among other industries.

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