Bank ancestry traced to 1874 predecessor...
The First National Bank of Dennison traces its beginning back to 1874 to a private bank in Uhrichsville, Ohio known as the Farmers and Merchants Bank, which was established by George Johnston.
The assets of that bank were transferred in 1893 to Thomas A. Latto and Isaac E. Demuth. Maurice Moody joined the firm in 1895. The bank became known as the Union Bank of Moody, Latto and Demuth.
In 1897, the trio established a private bank in Dennison, known as the Merchants and Mechanics Bank. In 1903, following the death of Mr. Demuth, the remaining partners incorporated under the National Banking Act to form the Dennison National Bank.
Moody and Latto associated themselves with the leading men of the community. They were able to raise capital and surplus for the bank of $72,000.
Maurice and Edwin D. Moody, who had been active in management of the old bank, were elected president and cashier, respectively, of the Dennison National Bank. Sixty stockholders, representing the principal financial interests of the Twin City area, elected sixteen members board of directors.
By the fall of 1907, total resources of the bank grew to nearly half a million dollars. The Dennison National Bank had the distinction of being the only depository of the Pan Handle Railroad between Steubenville and Newark, thereby enjoying the large patronage from the business and farming interests of Tuscarawas and Harrison counties.
In 1933, the business of the bank was taken over by The First National Bank of Dennison. The bank was located at 308 Grant St., Dennison. The bank was and is owned by the stockholders who elect the officers, including the president, who are responsible for the operation of the bank.
In 1973 the bank moved to its newly built facility at the corner of Grant and N. 1st St. in Dennison. The Bank assets had grown to over $7 million at that time.
The First National Bank of Dennison formed a holding company, FNB Inc., in 1989 which became the parent company of the Bank. The holding company was formed to prevent an unfriendly buy-out of the company and to allow the company to repurchase its own stock.
In 1985 the Bank expanded its presence in Tuscarawas County by constructing its office in Dover. The branch office is located at 824 Boulevard.
The Bank continued to grow with the addition of three offices: the Bank One office in Gnadenhutten, 130 Walnut St., was purchased in 1991. The deposit accounts were purchased along with the real estate.
An office formerly housing a branch office of National City Bank at 706 S. Broadway, New Philadelphia, was purchased by First National in 1996.
First National then purchased a former Huntington National Bank branch office, 2046 East High Ave., New Philadelphia, which opened in May 2002.
Due to growth and the need for more operating space, the Dennison office expanded once again in 1998, adding an additional 6450 square feet to the north side of the existing building. The office was completely remodeled to create the current modern structure with over 14000 square feet.
From the modest beginning in 1874, to the five offices, modern facilities and assets exceeding $165 million, the First National Bank of Dennison is a full-service bank offering depository services as well as loans, safe deposit boxes, and night depository. The Bank has always prided itself on providing prompt and courteous customer service.
First National Bank was the first in the County, and one of the first in the state, to provide check imaging, and now has a completely integrated and networked computer system.
The Bank went online in 2000 offering services to its customers through internet banking. Internet banking offers billpay, cash management, and e-statements.
FNB, Inc. also established a finance company, TuscValley Financial, Inc., which opened in June 2002. The office is located in New Philadelphia at 111 Front Avenue SE.
By continuing to increase facilities and services, the First National Bank of Dennison is looking forward to an even greater growth and expansion in the future as we serve the residents and businesses of Tuscarawas County and surrounding areas.
The history of The First National Bank of Dennison was prepared by Robert F. Michels.
Present Board of Directors
- James Carrothers
- Greg L. DiDonato
- William Ferris
- Blair Hillyer
- Brad Hillyer
- Larry Mosher
- Joseph Martinelli
- Lee Novak
- Douglas L. Peterman
- Dr. Jay Tolloti
- Keith A. Willoughby
- Nichole Zesiger