Richwood Bank is planting a flag in Urbana, with plans to open a new full-service branch on South Main Street after more than 150 years of operating out of its home base in Richwood. The bank announced its planned Urbana expansion in October, and the project recently cleared a local hurdle when city planners signed off on the development at 301 and 313 South Main Street.
The timeline for the new location has varied depending on the report. Richwood Bank plans to open the new full-service branch in Urbana in late 2027, as Peak of Ohio reported. An earlier report from the Urbana Daily Citizen projected the branch could open as early as the third quarter of that same year, after the bank purchased land at the corner of Water Street and South Main Street. The branch is expected to rise on the former site of Main Street Car Care, with Richwood having purchased the land for the project.
Planning Commission Clears a Historic-Status Snag
The project had stalled for several weeks amid questions over the historic status of the house at 313 South Main Street before the Urbana Planning Commission approved Richwood Bank's plans to develop the two-parcel site at 301 and 313 South Main Street, as reported by Peak of Ohio. The outlet reports the property is listed on the Ohio Historic Inventory but is not on the National Register of Historic Places, and that designation does not provide protections that would block construction. City officials also said the property sits outside Urbana's historic districts and its Heritage Overlay District.
Richwood Bank's legal counsel told city officials the project is not subject to federal Section 106 historic review because the bank is regulated by the Federal Reserve and is not using federal funding that would trigger that process, as noted by Peak of Ohio. With the commission's approval now in hand, the project can continue through the rest of Urbana's development process. The city has also asked Richwood to modify existing pavement markings on East Water Street and South Main Street to improve access into and out of the property, the Urbana Daily Citizen reported, and the bank's official address will sit in the 300 block of South Main Street.
Seven Jobs and a Full Menu of Banking Services
Per a report from Urbana Daily Citizen, Richwood Bank anticipates staffing the new branch with seven full-time employees. The location is expected to offer personal and business banking, mortgage lending, treasury management, and digital banking services, along with payroll, marketing, and financial services for business customers — and, in keeping with branches elsewhere in its network, Richwood Coffee.
Richwood Bank President and CEO Chad Hoffman said the company is thrilled to become part of the Urbana community. “Urbana reflects Richwood Bank's values of supporting local businesses, strengthening neighborhoods, and helping people build successful futures,” Hoffman said. The bank cited Urbana's community involvement and its support for local businesses and families as reasons for choosing the city, and it intends to build relationships with local businesses, schools, nonprofits, and other community organizations as it settles in.
A 150-Year-Old Bank Expanding Its Footprint
Richwood Bank has operated for more than 150 years. The Urbana branch would mark its latest expansion into a growing corridor of the city.
Urbana's southern end has been drawing other new business interest as well. A Wawa convenience store is planned for 848 Scioto Street, though construction is on hold pending the closing of the property purchase, and a Jersey Mike's sub shop is preparing to open at 686 Scioto Street, per the Urbana Daily Citizen. Richwood Bank said it will announce further details about the Urbana branch, including employment opportunities and opening events, as its plans move forward.
