Finance News (Photo Illustration/MetroCreative)

PARKERSBURG — Williamstown Bank will become a new depository for Wood County.

Williamstown Bank President and CEO Sharon K. Anderson and attorney Steven Hardman appeared before the Wood County Commission on Monday to present the necessary documents for the bank to become a depository for the county after the commission recently gave their approval for the local bank to do so.

Wood County Clerk Joe Gonzales said he and Wood County Sheriff Rick Woodyard have given their approval to the arrangement as they will be the ones interacting with the bank.

“The sheriff is the treasurer of the county,” Commission President Blair Couch said. “The (county) clerk is the accountant of the county.”

The county is already working with United Bank, WesBanco and Community Bank on other matters.

Gonzales said they are not going to be moving any of the existing accounts, but will be using Williamstown Bank for any “new money” coming in from opioid settlements or additional money coming in for fire protection fees.

“We are expecting more opioid money in there over time,” Couch said.

Mineral Wells Volunteer Fire Department is working with Williamstown Bank on the recent purchase of a new fire engine and are going over options, interest rates and more with the bank to finance it.

“The money (from the county fire fee that will be used to help pay for the truck) will still be controlled by the commission,” Gonzales said. “They just can’t go up and withdraw it.”

The county oversees the fire fees and has to sign off on purchases made with those funds.

“It is good to have you as a part of the team,” Commissioner Jimmy Colombo said, adding the bank is well positioned in different parts of the community and doing a lot of business locally.

“We appreciate it,” Anderson responded.

Brett Dunlap can be reached at bdunlap@newsandsentinel.com