The Richland County – Shelby Chapter
Of The Ohio Genealogical Society

- - - INDUSTRIES - - -

The First National Bank

"One of the Solidest Institutions in the State of Ohio. Organized in 1872.
 
The First national Bank has paid up cash capital of $50,000, and undivided profits and surplus of $25,000. It is the oldest bank in Shelby, having been organized April 9, 1872, making it twenty-five years old thyis year. The late Dr. W.R. Bricker was the first president and served in that capacity for twenty-one years. B.J. Williams cashier, has held his position ever since the foundation of the institution, carefully guiding the financial craft through the panics of 1873 and 1893, besides several minor disturbances that wrecked many of the banks of the country.
 
Shelby Historical Postcard, created by Sally Maier**
 
 
The first directors were: W.H. Pennock, William H. Marvin, W.G. Beatty, of Cardington, Ohio, David Anderson W.R. Bricker S. F. Stambaugh and J. A. Beverstock of Shelby.
 
Today the stock is principally held in Shelby among the following well-known citizen: John Dempesy, B. J. Williams, H.M. Dick, W.A. Shaw, M. H. Davis, J.W. Williams, J.L. Pittenger, A. Farrington, J.J. Smiley, W.E. Miller, and Danforth Brown. The present officers are: John Dempsey, president; J.L. Pittenger, Vice President; B.J. Williams, Cashier; J.W. Williams, Asst. Cashier. The directors are: John Dempsey, J.L. Pittenger, B.J. Williams, H.M. Dick, W.A. Shaw, Danforth Brown, and M.H. Davis.
 
 
The 1879 First National Bank Building c. 2005
 
 
The bank has an enviable reputation among the business fraternity for fair dealing, safe and conservative methods. The losses through bad debts for a period of twenty-five years have been remarkably light, and the management in this respect challenges comparison with any bank in the country. In addition to general banking business, they conduct a savings department, paying interest of 4 per cent per annum upon deposits, a very popular idea.
 
While the bank makes no pretenses of being a charitable institution, it has been of very substantial benefit to all classes of the community. To its depositors in encouraging habits of industry and economy by paying them interest for the use of money which would otherwise been idle, if not wasted by the purchase of articles not really needed. To its borrowers by collecting together and aggregating these small sums of idle or surplus money and loaning it to them to carry on business enterprises that furnish employment for a vast number of laborers, and to keep the wheels of trade and manufacture in motion even in hard times.
 
The 1879 First National Bank Building c. 2005
 
 
To the high character, integrity and well-known conservatism of its officers and managers, who are among the most successful business men in the city, must be attributed in a large measure, the most satisfactory record of the bank. We doubt whether there is another city in the State of the size of Shelby that can boast of such a successful institution. It has for years paid semi-annual dividends of 5 per cent, besides adding to the surplus. The stock is highly appreciated and seldom changes hands." *
 
 
* The Shelby Republican - May 20, 1897
 
** To Purchase postcards, contact Sally Maier, 76 Raymond Ave., Shelby, Ohio 44875
or email: shelbymuseum@copperfast.com
 

If you would be interested in adding to, or commenting on the items on this page,
please contact us.

Copyright © 2013 Richland County - Shelby Chapter of The Ohio Genealogy Society