27-06-2025
- Business
- Business Journals
Stimulating economic progress in Ohio through relationship-based community banking
As Ohio's economy evolves — bringing new industries, workforce challenges, and shifting development priorities — one element of economic stability remains constant: the local financial institutions working quietly behind the scenes to help businesses launch, expand, and adapt.
Across Ohio, community banks play a critical, often underestimated role in that story. From helping a small manufacturer purchase equipment to financing the redevelopment of a Main Street property, community banks aren't just lenders — they're collaborators in local progress.
Where relationships still matter
While many national and global banks have moved toward automation and centralized decision-making, community banks continue to operate on a relationship-driven model. That local-first approach can make all the difference when timing, context, and regional insight matter.
"Business lending isn't just about numbers — it's about knowing your community," says Shawn Keller, CEO of Buckeye State Bank, a locally owned and operated bank with headquarters in Powell. "We work with business owners every day who are deeply invested in their towns. They need a partner who's equally invested."
Buckeye State Bank, formed by a diverse team of local business leaders in 2014, has grown steadily by remaining focused on its mission: to keep local dollars working locally. That philosophy continues to shape its work across Logan, Franklin, Delaware, Union, Wood, Lucas, and Ross counties.
Community banks are small, but mighty
Despite representing just 15% of the industry's assets, community banks are responsible for nearly 60% of all small business loans in the U.S., according to the FDIC. Their strength lies in flexibility—understanding local development pipelines, supporting generational businesses, and being agile enough to meet non-traditional financing needs.
In Ohio's midsize towns and rural markets, that flexibility is increasingly important. Many projects — especially those tied to real estate, agricultural expansion, or light manufacturing — don't fit a one-size-fits-all lending box. Local lenders can underwrite with greater understanding, allowing opportunities to move forward that might otherwise stall.
More than lending
Today's community banks are about more than balance sheets. Many are active contributors to regional economic development initiatives, civic leadership, and small business education. For example, Buckeye State Bank is a founding sponsor of the Delaware County Economic Summit, an annual gathering of business leaders, developers, and policymakers focused on building collaborative strategies for regional growth.
This year's summit, set for August 21 at Wedgewood Country Club, will focus on the current state of the Central Ohio economy and issues that impact every corner of the region.
"Events like this are where collaboration begins," says Keller. "We don't just want to fund the future — we want to help shape it."
Looking ahead
As Ohio continues to attract national attention for its business-friendly environment and strategic logistics location, the role of local banks remains essential. But community banking is also changing. Institutions like Buckeye State Bank are blending traditional service models with modern tools to provide clients with both high-tech convenience and high-touch support.
That balance, Keller says, is key to helping the next generation of business owners thrive. 'Our goal is to be responsive to the way people live and work today, without losing the personal service that defines us.'
As Ohio communities continue to grow, so does the need for reliable, locally attuned financial institutions. Whether it's helping a startup find its footing or backing a longtime business through a transition, community banks remain an indispensable part of the economic development equation.
Headquartered in Powell, Ohio, Buckeye State Bank is a local, employee-owned community bank, with approximately $473 million in assets as of March 31, 2025. Serving individuals and businesses across Ohio, Buckeye provides personal banking, commercial lending, and treasury services through a relationship-first approach that helps keep local dollars working for local impact. Learn more at .
