Ostrander and Scioto Township History

 
Home Scioto Township Ostrander Other Places Maps Schools Fire Department Genealogy
Post Office Military Parks Cemeteries Communication Water Organizations Black History
Library & Links Bibliography Commerce Railroad Churches Banking Timeline Contact Us
BANK HISTORY

Recent recollections of banking in Ostrander begin with the short life of Frank Maugans' Scioto Savings Bank, quickly followed by the Ostrander Banking Company which later merged with the Delaware County Bank which remains in operation in the same building to this day.   xxx

EARLY BANKING
However, Frank R. Coe identifies two banking establishments which existed prior to the Scioto Savings Bank in his recollections of Ostrander History which he wrote in 1956 as follows:  "Banking services have been furnished the community as far as we have been able to learn by three privately owned banks, and the Ostrander Banking Co., which is still serving the people of Ostrander and vicinity.  The first bank was operated by a Mr. Williams, first name unknown.  Next came Arthur Robinson, who was followed by Frank Maugans' Scioto Savings Bank.

STORE TOKENS
During the early history of Ohio, especially during the Civil War, coinage was very scarce.  Many early businesses resorted to coining their own trade tokens to facilitate commerce.  This trade token issued by R.F. Long, in Ostrander, Ohio, is an example of these early tools of commerce. (8)  R.F. Long (not sure if we're talking about the same guy) ran a restaurant and ice cream parlor in Ostrander.  His business was one of the many businesses that were destroyed in the 1925 fire which destroyed the entire business block of Ostrander. (20)

SCIOTO SAVINGS BANK 1880-1903
Frank Maugans opened the Scioto Savings Bank in 1880.  This bank serviced the community until 1903 when Mr. Maugans died.

OSTRANDER BANKING COMPANY 1903-1967
The citizens meet and decide to organize a bank.  The Ostrander Banking Company opens on March 24, 1903 in the west room of its current location.

Frank Coe continues...  "At the death of Mr. Maugans early in 1903, a meeting of the citizens of the community interested in the organization of a bank was called for that purpose.  At that meeting a committee composed of B.C. Duncan, A.V. Main, J.C. Maugans, C.V. Liggett, and Octa Maugans was appointed.  (B.C. Duncan and Octa Maugans both passed away in 1955, the last surviving members of the group responsible for organizing the Ostrander Banking Co.).  With the assistance of S.P. Shur and Mr. Hall connected with a Delaware Bank in an advisory capacity, this committee proceeded with the necessary steps for the formation of the Ostrander Banking Company.  The bank opened for business about March 23, 1903 with Mr. B.C. Duncan as cashier and Mrs. Jessie Liggett as Asst. Cashier.  The original stockholders were as follows:  B.C. Duncan, W.H. Carr, S.T. Carr, A.V. Main, Alex Newhouse, Wm. Elsom, Marion and Andrew Kirkland, J.C. Maugans, A.G. Duncan, H.W. Rittenhouse, J.A. Hayes, J.I Afamson, Octa Maugans, Jesse Bean, D.T. Perkins, M.E. Wollam, and C.G. Manville.  The first board of directors chosen from this group was composed of W.H. Carr, A.V. Main, Alex Newhouse, B.C. Duncan, and J.A. Hays.  Mrs. Hays was named President, Mr. Main, Vice President, and W.H. Carr, Secretary.

Cashier Asst. Cashier
B.C. Duncan 1903-1905 Jessie Liggett 1903-1904
Wm. Harris 1905-1910 Lee W. Elsom 1904-1907
Odell Liggett 1910-1922 Fred Gabriel 1907-1916
F.E. Parsons 1922-1942 F.E. Prouty 1916
C.N. Strayer 1942-1943 H.M. Latimer 1916-1946
F.E. Parsons 1943-1948 Ruth Ebright 1948
Lee W. Elsom 1948-1949 Avilee Prouty 1949
Guy Coughenour 1949-1956 Norman Hageman 1949

The following have served as directors down through the years:

Director No. Years Director No. Years
W.H. Carr 34 M.E. Kirkland 35
A.V. Main 2 Joe A. Main 34
Alex Newhouse 3 Albert Huntley 11
B.C. Duncan 1 T.B. Newhouse 7
J.A. Hays 1 F.E. Parsons 4
J.I. Adamson 3 M.R. Hays 6
J.C. Maugans 29 H.W. Rittenhouse 7
Geo. H. Gray 1 Earl French 1
Geo. VanBrimmer 1

At this is written in 1956, the board of directors is comprised of:

Director No. Years
Odell Liggett, President 14
Frank R. Coe 9
E.V. Roush 15
A.H. Newhouse 17
Fred L. Decker 14

The employees at this time are:
Guy Coughenour, Cashier
Norman Hageman, Asst, Cashier
Mrs. Avilee Prouty, Asst, Cashier
Mrs. Ruth Retterer, Bookkeeper

An item or two of interest are the mention of sidewalks adjacent to the bank being finished in 1906; the building which still houses the bank was purchased in 1905 from Elizabeth Maugans for $3500; banking rooms were on west side of the building from 1903 to 1908 when first vault was installed and bank moved to present rooms.  The bank moves to the east room of the building in 1908.  Hitching posts are placed in front and on the east side of the bank on May 3, 1909; the same year the Lincoln Penny is introduced.  A safe is purchased in 1910 and its not until December of 1919 before someone attempts to rob the bank.  The safe is destroyed and much better safe is installed.

The "Bank Holiday" is declared by the President of the United States and The Ostrander Banking Company is authorized to conduct business on March 15, 1933.  The Ostrander Banking Co. becomes FDIC-insured in 1935.  Deposits are insured up to $5,000.

The bank expands to include both the east and west rooms of the building in 1961 and merges with the Delaware County Bank in October, 1967.  (7)

THE DELAWARE COUNTY BANK  1967-PRESENT
In 1967, the Ostrander Banking Company merged with the Delaware County Bank of Delaware, Ohio.  The Delaware County Bank continues to service the community today.

PHOTO ALBUM
R.F. Long Store Token
David Cooper
Reverse of
R.F. Long Store Token
David Cooper
Check drawn on Scioto Savings Bank in 1902
Carolyn Van Brimmer
Bank Building
circa 1909
Carolyn Van Brimmer
Ostrander Banking Co. 
1909 Calendar Plate
David Cooper
Ostrander Banking Co. mark on Calendar Plate
David Cooper
Artwork on 1909 Plate
David Cooper
Manufacturer Mark on Plate
David Cooper
Bank with Door at Corner.jpg (266228 bytes)
"1909"
Ostrander Banking Company
David Cooper
Bank Building at Turn of Century
David Cooper
Ostrander Banking Company 1930 Note
David Cooper
Bank prior to Entrance being moved from the Corner to the Front
David Cooper
bank 002.jpg (665720 bytes) bank 001.jpg (664748 bytes) bank 003.jpg (685832 bytes) bank 004.jpg (663417 bytes)
Ostrander Banking Company safe purchased 
in 1919
David Cooper
Set a manual timer and turn the inside "ball" and it's locked.
David Cooper
Old Ostrander Banking Company Safe sits inside this Modern Walk-In Variety
David Cooper
Old Wallpaper found in Stairway to Basement
David Cooper
bank 007.jpg (730915 bytes) bank 005.jpg (732028 bytes) bank 006.jpg (674691 bytes)  
Upstairs at Bank Remind Us of "Yesteryear"
David Cooper
2nd Floor
at the Bank
David Cooper
Must be 16 foot Ceilings on the 2nd Floor
David Cooper
 
IN THE NEWS
Delaware Gazette - Jan. 21, 1933
FIFTY YEARS AGO - When directors of the Ostrander Banking Co. at Ostrander recently held their annual meeting, they gave Mr. Carr, lifelong resident of the Delaware County village, the presidency for the thirtieth time.  The bank was organized in 1903, and in the following January Mr. Carr became its head.  His grandfather was one of the three men who settled Ostrander, and he and Mrs. Carr reside in the house where he was born.
wpe17086.gif (814803 bytes) wpe21806.gif (999611 bytes) wpe60369.gif (778410 bytes) wpe77745.gif (1094165 bytes)
Damn Talks Fail to Deter Ostrander Bank Remodeling Old Documents Found in Bank; Date Back 72 Years Ostrander Banking Co.
Annual Report
1964
Page 1
Ostrander Banking Co.
Annual Report
1964
Page 2
wpe72309.gif (648177 bytes) wpe76138.gif (1055601 bytes) wpe05874.gif (167674 bytes)  
Ostrander Banking Co. Marks 50th Anniversary
1953
Ostrander Bank Completes Remodel
Dec. 7, 1961
County Bank, Ostrander Merger Jelled
1967