(Columbus)--Donna Owens, director of the Ohio Department of Commerce, announced today the opening of Ohio’s newest state-chartered bank. Western Reserve Bank opened for business on Friday, November 6 at 4015 Medina Road, Medina.

Western Reserve Bank is the eighth state-chartered bank to open since 1995. “I am always pleased to see the creation of community banks such as Western Reserve Bank,” said Director Owens. “The creation of new banks demonstrates the strength of Ohio's banking industry and increases the number of banking options open to Ohio's citizens.”

Ohio Superintendent of Financial Institutions W. Curtis Stitt issued the Certificate of Authority to Commence Business on November 5. The chief executive officer of the community bank is President Edward J. McKeon.

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The Ohio Department of Commerce’s Division of Financial Institutions regulates Ohio's state-chartered financial institutions. In addition to financial institutions, Commerce also regulates securities, industrial compliance, fire codes, unclaimed funds, liquor, and real estate, among other industries. The department's internet address is www.com.state.oh.us.