Difference between revisions of "Banks"

Revision as of 06:27, 7 August 2017

A number of banks have come and gone through the history of Licking County. Below are some of the banks of historical significance or have strong ties to the county.

Bank First National

Licking County Buildings and Savings Co. was founded in the early 1900s at 14 N Park Place. The bank eventually became the Bank First National and moved to the building on 42 North Third Street in Newark, which was completed on November 30th, 1956. ^[1]

Central Trust

The building that held the Central Trust, commonly known as the Trust Building was completed in 1908. ^[2] In 1903, the Newark Trust Co. was charted as the first complete bank in the county. The original building was torn down in 1985, and the bank was moved next door to the neighboring Hull Building. Plans were made to expand the building in 1986, adding an additional 16,000 square feet. ^[3] Construction was completed in February 1988. Central Trust was purchased by Banc One in 1991 and took over operations of the 20 Central Trust offices around Ohio. ^[4]

First National Bank of Newark

First National Bank in the early 1950's.

The First National Bank of Newark was founded in 1865, by a group of local Licking County businessmen led by Virgil Wright. The group was granted a charter on February 3rd, 1865, and this charter is one of the oldest of the National Bank charters in Ohio. ^[5] They met in the office of Jerome Buckingham, who was elected as the bank’s first president, and held that position until his death in November of 1902. Frederick S. Wright assumed the office of presidency next. The Federal Reserve Act was passed in 1913 and the First National Bank became one of the first banks in Ohio to become a member of the system. ^[6]

Wright’s brothers Edwin succeeded him to the presidency and served in that capacity until his death in December 1951. Through the stock market crash in 1929, and the subsequent years of the Great Depression, the First National Bank never lost the confidence of its customers, and records indicate that it was one of the first banks in the state to receive permission to reopen its doors. ^[6]

James M. Miller was elected the next president, and despite his short term of only two years, the bank went through a number of changes. The building was extensively remodeled, and on October 1st, 1954 the First National consolidated with Union Licking Bank. Harold L. Ballinger, former president of Union Licking Bank succeeded Miller, and the offices were moved to their place on Church Street. The historic building that housed the bank in its early days was closed in the early 1960s. In June of 1962 a branch office opened in Heath. Ballinger died in January 1964, leading the way to the sixth president Phillip B. Young. ^[6]

First National Bank merged with the First National Bank of Utica in 1969. ^[7] The bank merged into the National City Bank of Columbus, becoming and closed its doors on June 30th, 1979. ^[8]

Local Legend

Supposed face of Adam Kiesel

Popular legend states that the well-known face carved into the doorway of the former First National Bank Building belongs to Adam Kiesel. Kiesel was a failed businessman who had tried several businesses after he returned from the Civil War, the last one being a grocery store. They all failed, so he reportedly insured the building heavily and then set fire to it. He was tried for arson and acquitted by the local jury who were thankful that he had burned down unsightly structures from the public square. The artist Thomas D. Jones was hired to memorialize Kiesel in stone above the door of the the bank building to honor his public service to the bank and the community. ^[5]

Heartland Bank

Heartland Bank, formerly known as the Croton Bank, began as an agricultural bank in 1911 and catered to the banking needs of two local towns, Croton and Johnstown. ^[9] The bank was purchased by Heartland in 1987, and it was favored because of its close proximity to Columbus. The bank has expanded to eleven branches celebrated its 100th anniversary in September 2011. ^[10]

Park National Bank

Park National Bank in Newark

The Newark Park National Bank was founded in July 1908 ^[11] and opened their first offices on January 1st, 1909. ^[12]. The three founders Alvun R. Lindorf, Augustus G. Wyeth and William W. Gard originally founded the bank as the Guardian Savings and Trust Co. in 1907, and it quickly became the leader of Newark's banking community. The main offices expanded and moved to 32 North Park Place, and because of the rapid growth of the Guardian, the founders turned their attention towards the conversion to a national bank, which became Park National Bank. ^[11]

In 1952 a branch in Hebron was opened and the Kirkersville Bank Co. was purchased and opened as a branch of Park National. In 1967 they were the second bank in Ohio to have a credit card. ^[13] Throughout the years, branches have opened in surrounding areas in Licking County, as well as a branch in downtown Columbus. Their subsidiaries include Fairfield National Division, Richland Trust Co., Central National Bank, the First-Knox National Bank, Farmers and Savings Division, United Bank, N.A., Second National Bank, The Security National Bank and Trust Co., Unity National Division, the Citizens National Bank of Urbana, Scope Leasing Inc., and Guardian Finance. ^[14]

Park National Bank was ranked as the fifth best mid-sized bank overall, and were included in the top 100 companies in Ohio from the Cleveland Plain Dealer . ^[15] In 2006, PNB was awarded the Governor's Award for Support of the Arts from the Ohio Arts Council. ^[16] The bank celebrated its 100th anniversary in 2008.

John Alford

One of the most well known figures at the bank is John W. Alford. He began working at the bank in 1935 and was named president in 1956, before serving as chairman of the board in the 1980s. ^[17] The former Krebs building at 21 S. First St. was named in his honor on October 15th, 1985, fifty years to the day that he began his career at Park National.

Robbery

In May 1989, PNB was the victim of the largest bank robbery in Licking County history when two men, Rodney Dominic Radford and Daniel Dwayne Lewis stole $438,000 from the North 21st Street Branch in Newark. ^[18] Lewis was found guilty on three counts of armed robbery, while Radford was found innocent. ^[19]

Sullivan Building

The Sullivan Building, Newark, Ohio

In 1914, Emmett Melvin Baugher of the Home Building Association Company on South Third Street in Newark commissioned famous architect Louis Sullivan to build a new building on the north corner of Main and Third Streets. It was the second largest banking institution in Newark by 1907 and had outgrown its facility. The new building was completed in 1915. The Old Home Bank, as it was known, merged with the Franklin National Bank in 1928, changed its name to the Union Trust Company and became the largest financial institution in Licking County.

Louis Henry Sullivan was born in Boston in 1856, the second son of Patrick and Andrienne List Sullivan. Louis acquired an interest in architecture at an early age and apprenticed with Frank Furnass and then William Jenney (father of the iron-framed skyscraper). By 1881 he became an employee of Dankmar Adler, and soon afterward, a partner. In 1888 Sullivan hired Frank Lloyd Wright as a draftsman and fired him in 1893 for moonlighting. ^[20]

References

1. ↑ Scenes from Yesteryear. (1999, February 19). The Newark Advocate.
2. ↑ Fugate, L. (1985, February 28). Newark to lose 'tallest' The Newark Advocate.
3. ↑ Central Trust. (1986, December 16). The Newark Advocate, p. 14.
4. ↑ Banc One buys Central Trust Co. (1991, January 16). The Newark Advocate.
5. ↑ ^{5.0 5.1} The First National Bank 1865-1948. (1948). Folder Banks and Banking, Local History Vertical File, Licking County Library, Newark, Ohio.
6. ↑ ^{6.0 6.1 6.2} Moody, Minnie Hite. 'Chronicle of a Bank'. Folder Banks and Banking, Local History Vertical File, Licking County Library, Newark, Ohio.
7. ↑ First National Bank of Newark Expands. (1969, April 2). The Newark Advocate, p. 1.
8. ↑ The First National Bank of Newark. Retrieved February 18, 2015, from https://www2.fdic.gov/idasp/confirmation_outside.asp?inCert1=6652
9. ↑ Stewart, D. (1989, June 11). True to its roots. The Newark Advocate, p. 3D.
10. ↑ Roy, A. (2011, September 22). Heartland Bank marks 100 years with history wall. The Newark Advocate.
11. ↑ ^{11.0 11.1} Stewart, D. (1988, June 26). Park National proud of 'hometown' image. The Newark Advocate, p. 1D.
12. ↑ Farrington, F. (1960). Park National Opens New Bank in 1958. The Newark Advocate.
13. ↑ John Alford Day honors 50 years of commitment. (1985, October 16). The Newark Advocate.
14. ↑ Gilligan, D. (2003, March 8). Park National: Small-town approach, monster success. The Newark Advocate.
15. ↑ Snavely, B. (1998, July 12). Bank quietly celebrates 90th year. The Newark Advocate.
16. ↑ News Headlines for Licking County. (2006, March 30). Folder Banks and Banking, Local History Vertical File, Licking County Library, Newark, Ohio.
17. ↑ Bates, A. (1985, October 16). Alford building honors career. The Newark Advocate.
18. ↑ Porter, P. (1989, September 8). Defendant denies role in PNB robbery. The Newark Advocate.
19. ↑ Porter, P. (1989, September 12). One guilty, 1 innocent in Park National heist. The Newark Advocate.
20. ↑ The Old Home; Louis Sullivan's Newark Bank, by Joseph R. Tebben, McDonald & Woodward Publishing Co., 2014.