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Banks say lending, hiring and community programs are central to Columbus’ growth
Summary
Panelists at a Columbus Metropolitan Club forum said banks support Central Ohio’s growth through lending, workforce development, community programs and targeted partnerships, while differing in scale and local approach.
Columbus — Leaders from national and regional banks told a Columbus Metropolitan Club audience that banks play multiple roles in Central Ohio’s economy, from supplying capital for housing and small business to hiring and volunteer efforts that support neighborhoods.
“Every deposit dollar that we take in, we put back out into the community, helping small businesses grow,” said Eleria Rawlings, chief executive officer of Fortuna Bank, during the Oct. 25 forum. Panelists described banks’ work as a mix of lending, workforce development, volunteerism and targeted local programs.
Why it matters: Panelists said the region’s rapid growth increases demand for mortgages, small-business loans and community services. Bank-led programs can lower borrowing costs for developers, provide down-payment assistance for homebuyers and supply nonprofit partners with technical and financial support. Those activities shape where housing and commercial corridors expand, panelists said.
Panelists cited several concrete community efforts. Brian McDonald, market executive for Bank of America in Ohio, highlighted a “community center” concept the bank opened in Linden this year to offer fraud-prevention workshops, savings tools and financial coaching. A JPMorgan Chase representative pointed to company hiring and veteran support programs: Tony Anzick, the local JPMorgan Chase location manager, said the firm has hired nearly 20,000 veterans companywide and more than 2,400 veterans in Ohio since 2014.
Panelists described different strengths by institution size. Large national banks emphasized scale: broader funding pools, national technology investments and large volunteer programs. Smaller or newer banks emphasized local relationships and hands-on customer work. “We can’t outshout Chase or Bank of America. We don’t have the deeper dollars. But we can actually spend time with people creating connections,” Jordan Miller, chairman and CEO of Adelphi Bank, said.
On housing, panelists noted partnerships that use linked-deposit programs and county/state homebuyer assistance to lower rates for borrowers or developers. “The linked deposit program … helps them to buy down the rate,” a panelist said, describing a county deposit that reduces borrower interest costs on loans in affordable housing projects.
Panelists also emphasized workforce and volunteer commitments as part of banks’ local footprint. McDonald said Bank of America has hundreds of employees across Ohio and thousands of volunteer hours; panelists said employee volunteerism and local nonprofit partnerships are part of banks’ community engagement strategies.
The forum included questions from attendees about banks’ decision-making for small-business loans and how banks coordinate with community development organizations. Panelists said many credit decisions are made locally and that banks try to tailor underwriting to individual borrower situations.
Looking ahead, panelists said banks will continue to combine capital provision with community partnerships to respond to Central Ohio’s growth. They urged residents and nonprofit leaders to learn about local bank programs and available assistance.
