Ohio banks cashing in on deposits from oil and gas boom

Some banks in eastern Ohio are seeing dramatic increases in deposits by customers as landowners there receive large sums of money from oil and gas drillers and local businesses see more activity, according to Columbus Business First. Citing data from the Federal Deposit Insurance Corp., the newspaper reports that in Monroe County, home to five of Ohio’s most productive natural gas wells, bank deposits grew by 77 percent over the past five years to $203 million. Deposits in Noble, Belmont and Harrison counties, which are also seeing much leasing and drilling activity, beat the state average for deposits over the five-year period as well. For more, read the full story.
 

Ohio