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The
First National Bank of Grove City
was organized and incorporated in July, 1896, with a capital stock of
$50,000, which was increased to $200,000 in 1908. The bank succeeded to
the private business established in 1884 by A. E.
Graham, under the name of the Grove City Banking Company, and
with whom, two years later, W. C. Alexander
became an associate partner. The business was conducted as a private one
until 1896, when it was nationalized under its present title. During the
first ten years of its existence, the First National Bank increased its
deposits from $95,000 in 1896 to $635,000, in the corresponding month of
1906. In 1908 there were deposits of nearly $700,000 and a surplus of
more than $50,000. In the latter year a handsome bank building was
constructed, modernly furnished and equipped with all possible
safeguards against fire and burglars. The management has long ago
established well organized safe deposit and savings departments, and has
in active working order such up-to-date methods as complete auditing
systems, banking by mail, travelers’ checks and effective collections.
Its present [1909] officers are as follows: W. C.
Alexander, president; Dr. J. M. Martin,
vice president; W. S. McKay, cashier, and
D. E. Frew, assistant cashier. Besides the president and vice
president, the directors are S. R. McKinney, A. M.
Allen, M. H. McCoy, J. A. Gilmore, John Floyd, John A. Turner and
W. J. Wilson.
Twentieth
Century History of Mercer County,
1909, page 229
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First
National Bank of Grove City, 1920s
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to enlarge
First
National Bank of Grove City, 1932
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Places
First National Bank, Grove City
