top of page
ohio_banner_skyline.jpg

CANNABIS BANKING GUIDE | OHIO

Building a Cannabis Banking Program in Ohio

The legal cannabis market in Ohio is poised for rapid growth. According to New Frontier Data, annual legal sales in the state are expected to surge to $3.2 billion by 2030. This increase is driven primarily by the introduction of adult-use cannabis sales, which began in August 2024.

Download Now

What every banker in Ohio should know about cannabis banking.

Cannabis banking brings significant growth potential, along with challenging operational demands and complex regulations. Get started by defining your path forward.

  • Build a business case for cannabis banking.

  • Understand the risks.

  • Develop strategies to mitigate risk.

  • Implement systems to promote compliance and client service.

NEED TO KNOW
GET THE PLAYBOOK

Unlock the rewards of this emerging market. Download the Cannabis Banking Playbook to learn more.

Projected Market Growth in Ohio

Source: New Frontier Data

ohio-chart.png
columbus_capital.jpg

Are You Ready to Serve Ohio's Fast-Growing Market?

In this article published in the Ohio Bankers League member newsletter, Shield's president and CEO Tony Repanich explains why you don't have to be "pro-cannabis" to bank cannabis-related businesses.

INSIGHTS

Boost your balance sheet with cannabis banking in Ohio.

Given the complexities of this line of business, financial institutions must understand the economics of cannabis banking and tailor their products and services to meet the evolving needs of their customers. By establishing policies and procedures, implementing an effective technology platform, creating a scalable pricing structure and developing expertise and relationships now, bankers can gain competitive advantage.

  • Conduct a guided review of your institution's risk tolerance.

  • Develop a risk assessment tailored to the needs of your institution.

  • Define and document the policy considerations of your banking program.

  • Educate your stakeholders, including meetings with regulators.

GET STARTED
Download Now
SHEDULE A CONSULTATION

Get expert guidance to build your cannabis banking program in Ohio. Schedule a consultation with Shield Compliance.

The Shield Compliance team can help you unlock the benefits of serving this industry. Contact us to learn how to design a cannabis banking program that meets your financial institution's needs for effective management and operations.

"Partnering with experts who can assist with implementing compliance technologies, risk management policies, and operational processes required for banking this industry will help financial institutions create the foundation for an effective program and ultimately gain the financial rewards of cannabis banking."

Tony Repanich, President & CEO

Shield Compliance

LOCAL HEADLINES
Download Now

Ohio Adult-Use Cannabis Sales Top $98 Million in First 2 Months

On a blocked-off street in downtown Minneapolis, a crowd of Minnesotans lit up their first legal joints here and puffed... More

BUSINESS

The average dispensary is recording nearly $22,000 in adult-use and medical cannabis sales per day—a rate of roughly $8 million per store per year.

Recreational marijuana sales in Ohio jump to $109.5 million

On a blocked-off street in downtown Minneapolis, a crowd of Minnesotans lit up their first legal joints here and puffed... More

BUSINESS

Ohio adults aged 21 and older purchased $11.1 million in recreational marijuana product from Oct. 6 through Saturday, pushing sales figures above the $100 million mark.

Ohio cannabis: Here’s what it looks like inside a local dispensary

On a blocked-off street in downtown Minneapolis, a crowd of Minnesotans lit up their first legal joints here and puffed... More

RETAIL

When Ohioans approved adult-use last year, the Buckeye State was added to the growing list of two dozen states that have approved recreational cannabis programs.

Banking remains a challenge for dispensaries post Ohio cannabis legalization

On a blocked-off street in downtown Minneapolis, a crowd of Minnesotans lit up their first legal joints here and puffed... More

BANKING

Roughly 120 dispensaries in Ohio have received state licenses to sell recreational marijuana, but banking remains an obstacle for cannabis businesses because marijuana remains illegal under federal law.

bottom of page