Independent banks are also able to offer a personalized service that comes from truly understanding the history, traditions and needs of their community and building relationships with their customers away from the bank teller window. Community bankers live in local neighborhoods and send their kids to local schools. Some hold public office and many are active in local organizations. This close connection fosters a unique trust between the bank and the community that helps provide valuable peace of mind — particularly during these uncertain economic times — for individuals looking for a secure place to put their money.
However, the impact of community banks on Ohio’s cities and small towns goes far beyond mortgage loans and savings accounts. These banks work to make their communities stronger by contributing to local charities, sponsoring youth sports teams and investing in area businesses. They are also valuable employers and taxpayers.
As a state senator, I have and will continue to work in the Legislature to create an environment in Ohio where independent banks are able to prosper, invest in their communities and continue to provide key financial services for their customers. While the discussion at the Statehouse often centers on what government can do to improve Ohio’s economy and better the quality of life in our local communities, state leaders should also recognize the important role independent banks and other businesses and organizations play in this effort.
Through good and bad times, community banks have been fixtures in Ohio’s cities, towns and villages, and they will continue to play a critical role in the growth of our local economies and the success and well-being of Ohioans and their families for years to come.
Gary Cates, R-West Chester Twp., represents the 4th District in the Ohio Senate.