Tipton County, Indiana - Chapter 16: Tipjon County Banks, 1914

Chapter 16: Tipjon County Banks

The early days of Indiana were the days of ''wild-cat*' banks. Some of these existed in Tipton county, but record of them is not available for the present day writer. One of the first banks in the town of Tipton was the Vickrey §ank, an institution which was merged into the Union Bank, and later became the Farmers Loan and Trust Company, which name it now bears. In the year 1876 E. H. Shirk, of Peru, came to the town of Tipton and established a bank known as the Tipton County Bank. For many years this bank was the main one in the county, and did a good business, but in 1902 it was merged into the First National Bank.

In the absence of many banks the early farmer and business man de¬ posited his money with the merchants of the town. Some of these firms did an enormous banking business, and at one time a certain firm was far ahead of the Tipton County Bank in amount of banking business transacted in the county.

As the land of the county has developed richness and the people have accumulated wealth, the banks have grown and today have as much capital and resources as the best banks in the state. It would be hard to find another town the size of Tipton with as many and as rich banks. All are solid institutions, trusted by the people and of high standing in the state.

The First National Bank, Tipton

This bank was established in 1902, having absorbed the Tipton County Bank. The institution has steadily grown since that date, and at present there is a capital stock of $100,000, a surplus of $20,000, and the deposits amount to $290,000. J. E. Hawkins is president; John R. Nash, cashier; H. S. Matthews, assistant cashier.

Citizens National Bank, Tipton

This bank was established in the year of 1898. The bank has become the largest in Tipton county, having today a capital stock of $100,000, $25,000 in surplus and undivided profits, and $800,000 in deposits. F. E. Davis is the president of the bank; M. V. B. Newcomer is vice-president, and Lewis G. Seright is cashier.

Farmers Loan And Trust Company, Tipton

This banking institution was organized and established in 1906, and to¬ day has a capital stock of $50,000, a surplus of $35,000, and the amount of $372,000 in deposits. W. W. Mount is president; C. M. Martz, vice-presi¬ dent; Walter Carter, cashier; J. C. Urmston, assistant cashier.

Farmers' State Bank, Hobbs

This bank opened its doors to the public on January 1, 1914. The capital stock of the institution is $25,000. M. M. Hobbs is president; John F. Morris, vice-president, and Idrell Carr, cashier.

Peoples State Bank, Windfall

This institution was established in 1892 as the People's Bank, and was reorganized in 1912, taking the new name. The change was necessary under the state law that a bank has to renew their charter every twenty years. B. F. Legg, J. H. Zehner, W. H. Newton, A. S. Swoveland, Amos White, D. B. Vice and L. Connor were the original directors. J. H. Zehner was the first president, and W. B. Hale, cashier. John S. Mitchell is the president in 1914; B. F. Legg, vice-president; Phi. Scudder, cashier, and H. W. Brown, assistant cashier. The capital stock is $25,000; surplus, $6,250; undivided profits, $6,310.17; deposits, $194,141.68. The total resources of the bank are over $230,000.

The Sharpsville Bank

The date of the charter of this bank is August 10, 1902. Maurice Warner was the first and present president. James L. Romack is vicepresident; J. C. Holman, cashier, and A. C. McCoy, assistant cashier. The

State Bank Of Kempton

This bank was originally organized in 1900 as a private bank, but v\, 1904 changed to a state bank. C. Van Voorst was the first president and Newton Campbell the first vice-president. The present officers are : Newton Campbell, president; Thomas F. Lindlev, vice-president; F. F. Blystone, cashier; J. R. Cooper, assistant cashier. The capital stock is $25,000; the surplus $4,600, and undivided profits $1,200.