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Ohio Treasurer Richard Cordray announced today that 15 community banks in 13 Ohio counties will receive a total of $50 million in state deposits following today's Bid Ohio auction.
The Bid Ohio auction, conducted monthly by the Treasurer's office, allows banks throughout the state to make competitive interest-rate bids for up to $5 million each in deposits of state interim funds. Interim funds are state dollars that are earmarked for later use, but which aren't immediately needed. Bids must be at or above the interest rate for a six-month T TTgg reasury bill, this month, at 2.18 percent. The weighted average of today's bids was 2.7 percent.
The Bid Ohio program gives local banks a much-needed infusion of cash while also allowing the Treasurer's office to receive a competitive interest rate on our deposits, said Treasurer Cordray.
Rate |
Award Amount |
Bidder |
3.348 % |
$ 5,000,000 |
First Place Bank Warren - Trumbull County |
2.755 % |
$ 5,000,000 |
Union Bank Company Columbus Grove - Putnam County |
2.725 % |
$ 5,000,000 |
U.S. Bank, National Association - Hamilton County |
2.691 % |
$ 3,000,000 |
Greenville Federal - Greenville - Darke County |
2.675 % |
$ 5,000,000 |
Peoples Bank, N.A. - Marietta - Washington County |
2.651 % |
$ 2,000,000 |
Lake National Bank - Mentor - Lake County |
2.651 % |
$ 1,000,000 |
Antwerp Exchange Bank - Antwerp - Paulding County |
2.610 % |
$ 5,000,000 |
Nationwide Bank - Columbus - Franklin County |
2.600 % |
$ 3,000,000 |
Western Reserve Bank - Medina - Medina County |
2.600 % |
$ 5,000,000 |
North Side Bank & Trust Company - Cincinnati - Hamilton County |
2.592 % |
$ 500,000 |
Farmers Citizens Bank - Bucyrus - Crawford County |
2.580 % |
$ 5,000,000 |
Fifth Third Bank - Cincinnati - Hamilton County |
2.580 % |
$ 2,000,000 |
Main Source Bank Ohio - Troy - Miami County |
2.580 % |
$ 2,000,000 |
Liberty National Bank - Ada - Hardin County |
2.566 % |
$ 1,500,000 |
Old Fort Banking Company - Old Fort - Seneca County |
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