Randolph County, Indiana - Chapter 17: Banks and Banking, 1914

Few counties in Indiana, if any, have more superior banking facilities than has Randolph county. Within the borders of the county, at present, there are fourteen well established banks and two successful. trust companies. Three banks operate under the national charters and eleven are state banks. The aggregate deposits of these institutions would total more than $3,275,000.

Banks are located in nine out of twelve townships of the county, so it may "be seen that the population may be readily accommodated in financial needs and safe depositories.

The first bank in Randolph county was established in 1857 by James Moorman, Mark Diggs and Moorman Way. It was called the Moorman, ' Diggs & Company's bank. After a few years, Mr. Moorman bought out the partners' interests and conducted it alone as a private bank for many years. In 1878 a stock company was formed and The Farmers and Merchants Bank was incorporated under the state laws, with a capital of $80,000.' A new charter was secured in 1898 and the capital stock was reduced to $50,000. It is still operating under the charter then issued. Its officers are William D. Kizer, president who has served for seventeen years; B. F. Marsh, vice-president; Philip Kabel, cashier; D. M. Simmons, assistant cashier. The capital stock is $50,000; the surplus and undivided profits, $13,500; the resources, $384,000.

The Randolph County Bank was established February 4, 1865, as a national bank, the first of the kind in Randolph county. Its capital stock was $60,000. It was successfully conducted for many years, until October I, 1876, when its national charter was surrendered and a state bank was organized with a capital stock of $100,000. In 1898 this bank was reorganized and its capital stock reduced to $60,000 which is the amount of capital still maintained. Its officers are Seth D. Coats, president; T. L. Ward, vice-president; Charles E.. Ferris, cashier. Its surplus and undivided -profits are $18,000-; resources, $381,000. Mr. Coats has been president for a period of twenty-four years and Mr. Ferris cashier for twenty-eight

The Atlas State Bank of Union City was established in 1896. It has had a successful career and has been a marked benefit to the community. Its present officers are C. C. Fisher, president;^. C. Scbemmel, vice-president; B. F. Beatty, cashier. Its capital stock is $52,000 ; surplus and undivided profits, $6,000; resources, $375,000.

The Commercial National Bank, formerly the Commercial Bank of Union City, was reorganized in 1897. Its officers are George M. Edger, president; C. S. Hook, vice-president; J. F. Ruby, cashier; E. A. Frank, assistant cashier. Its capital stock is $50,000 ; surplus and undivided profits, $110,000; resources, $375,000. -t

In 1880 there were four banks transacting business in Randolph county, namely, Farmers and Merchants Bank and The Randolph County Bank, both of Winchester, and The Citizens Bank and The Commercial Bank, located in Union City. Among the officers and stockholders it is noted are the names of many of the representative citizens. Connected with the Farmers arid Merchants Bank were such men as Nathan Reed, James Moorman, Simon Ramsey, Thomas F. Moorman, Joseph R. Jackson, Albert O. "Marsh, Amos C. Beeson, R. S. Fisher and John Hiatt.

Connected with The Randolph County Bank at that time were Gen. ' Asahel Stone, Dennis Kelley, Thomas Ward, Adam Hirsch, John E. Neff, L. W Study, John E. Campbell, Seth D. Coats and John Hiatt. Connected with The Citizens Bank of Union City were ex-Governpr Isaac P. Gray, Nathan Cadwallader, Ephraim H. Bowen, Oliver H. Smith, Wm. H. Anderson, William K. Smith and Charles C. Smith. With the Commercial Bank of Union City were Charles Heady, James F. Rubey, Henry B. Grahs^ Robert S. Fisher, James Moorman, William Anderson and John S. Johnson.

These earlier banks have undergone various changes. Some surrendering .heir nationl .charters for state charters or vice-versa as the: case might be.

The Citizens Banking Company of Lynn was established in 1900. Its present officers are S. C' Bowen, .president ; W. R. Halliday, vice-president; Daniel Hecker, cashier; O. J. Pierson, assistant cashier. Its- paid up capital stock is $30,000; surplus arid undivided profits, $13,000; resources, $200,000.

The Ridgeville State Bank was established in 1901. Its officers are N. T. Sumption, president; John H. Huber, vice-president;. John E. Rickert, cashier; W. E. Ward, assistant cashier; capital .stock, $25,000; surplus and undivided profits, $9,000; resources, $195,000.

officers are L. W. Green, president ; P. M. Blythe, vice-president ; J. G. Blythe, cashier. Its capital stock is $25,000; its surplus and undivided profits, $5,500. Its resources, $100,000.

The Farmers Bank of Losantville w£is established in 1902. Its officers are D. W. Kinsey, president; J. R. Gilmore, vice-president; F. H. Thompson, cashier. Its capital stock is $10,000; -its surplus and undivided profits, $1,000; resources, $70,000.

The Parker Banking Company was established in 1903. Its officers are L. A. Botkin, president; George O. Thompson, vice-president; Charles F. Halliday, ca.shier; S. C. Dragoo, assistant cashier. Its capital stock is $25,000; surplus and undivided profits, $8,000; resources, $119,000.

The Saratoga State Bank was established in 1903. Its officers are Cyrus Bousman, president: C. E. Spitler, vice-president; E. A. Farquhar, cashier; B. W. Aiken, assistant cashier. Its capital stock is $25,000; surplus and undivided profits, $3,000; resources, $80,000.

The Citizens Banking Company, of Modoc, was established in 1903. Its officers are John Christopher, president ; Emmet B. Harris, cashier ; Sylvia L. Hunt, assistant cashier. Its capital stock is $10,000; surplus and undivided profits, $1,000; resources, $99,000.

The First National Bank of Ridgeville was established in 1906. Its officers are George M. Edger, president; C. Orr, vice-president; John M. Edger, cashier; Frank Harker, assistant cashier. Its capital stock, $25,000; surplus and undivided profits, $1,000; resources, $100,000.

The Farmland State Bank was established in 1907. Its officers are, S. M. Cougill, president; E. S. Jaqu^, vice-president; I. M. Branson, cashier; G. W. Turner, assistant cashier. Its capital stock is $32,000; surplus and -'undivided profits, $5,000; resources, $175,000.

The Peoples Loan and Trust Company, of Winchester, was organized in 1901. Its officers are James P. Goodrich, president; John I. Johnson, vice-president -and J. E. Hinshaw, secretary and treasurer. Its capital stock is $30,000; surplus and undivided profits, $21,000; resources, $388,000.

The Union Loan and Trust Company, of Union City, was organized in 1909. Its officers are J. M. Turner, president ; J. D. Money, vice-president ; P. I. Turner, secretary and treasurer. Its capital stock is $35,000; undivided profits, $12,000; resources, $165,000.