Joining Forces to Enhance Competitiveness

Jeff Smith, a partner in the Vorys Columbus office, and Jeffrey Quayle, senior vice president and general counsel for the Ohio Bankers League (OBL), co-authored an article for the Spring 2015 edition of the Ohio Record (the magazine of the OBL) titled “Joining Forces to Enhance Competitiveness.” 

The article highlighted points made in a recent white paper issued by the Office of the Comptroller of the Currency that outlined several areas where community banks can combine or pool their efforts and resources to share common expenses over a broader range of assets and entities. According to the article, this practice would in effect provide economies of scale otherwise available primarily to larger institutions, in an effort to reduce individual expenses and enhance competiveness.