Ohio River Bank President Daniel H. "Skip" Wiley led Director of Commerce Donna Owens on a tour of his state-chartered bank this afternoon. During the tour, President Wiley and Director Owens discussed recent changes in Ohio banking law and the importance of community banking.

As Director of the Ohio Department of Commerce, Director Owens oversees the Division of Financial Institutions which charters and regulates Ohio's 134 state-chartered banks. When Ohio River Bank was chartered by the department on May 22, 1995, it became the first new bank chartered in Lawrence County in 105 years.

"Ohio River Bank is one of a special group of community banks which have opened their doors in recent years," Director Owens said. "Since 1995, the Division of Financial Institutions has issued four new charters to banks which are specifically focused on providing their communities with customized and personalized service."

The other three recently chartered community banks are:

• Ohio Heritage Bank in Coshocton, chartered on October 4, 1995

• Towne Bank in Perrysburg, chartered on October 15, 1996

• Anderson Bank Company in Cincinnati, chartered on March 25, 1996

"We believe that there is room for growth and increased competition in Ohio banking," Director Owens said. "New bank openings are good for the banking industry and good for Ohio's citizens."

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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 three deputy superintendents oversee the sections of Banks, Savings and Loans/Savings Banks, and Credit Unions. These sections are responsible for all examination, supervision and regulation activities of each specific industry. In addition to financial institutions, Commerce also regulates securities, industrial compliance, fire codes, unclaimed funds, and real estate, among other industries.