PERRYSBURG, Ohio - The Ohio Division of Banks has approved the application of a new state bank, Towne Bank.

Organizers of Towne Bancorp have raised more than $5 million in capital. Subject to other approvals, they plan to open two offices almost immediately, first in Sylvania, Ohio, and then in Perrysburg, according to president Jerome Bechstein.

The bank's chairman will be Norman C. Rood. Lois A. Brigham and Thomas Eichler will be vice presidents.

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