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Infusion of Transohio cash has Star Bank hungry to loan. (Transohio Savings Bank, Star Bank N.A. Cleveland, Ohio)
- Article from:
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Crain's Cleveland Business
- Article date:
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September 26, 1994
- Author:
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Copyright informationCOPYRIGHT 1994 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Star Bank is awash in cash and is on the lookout for opportunities to lend it.
As a result of its Sept. 16 acquisition of 47 former Transohio Federal Savings Bank branches here, the Cincinnati-based bank has recorded $1.1 billion in new deposits on its books. Star now ranks as the third-largest bank in northeastern Ohio with $2.2 billion in local deposits.
Star needs to put that money to Work, in part by increasing its commercial lending here, bank executives say.
"Look at all the money we have," said executive vice president Richard Davis. Mr. Davis is the bank's point man for the integration of the Transohio branches into Star.
Star could invest that money ...