1874 Origin Story

The 1874 origin story rooted in farming, of the First National Bank of Dennison, resonates with steady growth to many in Tuscarawas county.

Financial Tip Friday is brought to you in partnership with the 1st National Bank of Dennison

Taking time to reflect on history can help one prepare for the future.  According to the Encyclopedia Britannica, historians agree that banking roots can be traced back to 2000 BCE in ancient Mesopotamia.  Records of loans by the temples of Babylon have been discovered.   Banks have been around as long as business has been transacted. It has been helping facilitate as a financial tool for companies and individuals to grow wealth.  

Origin Story

  • George Johnston in Uhrichsville, Ohio had started a private bank in 1874 and named it “Farmers and Merchants Bank.”
  • It transitioned three more times until a trio renamed it after themselves in 1895 “Union Bank of Moody, Latto & Demuth.”
  • 1897 the three men began a private bank in Dennison, Ohio called “Merchants and Mechanics Bank.”
  • After Mr. Demuth passed away in 1903, the bank renamed to “Dennison National Bank” and they were able to have a surplus of $72,000 for the bank.

Dennison National Bank

      • Held 60 stockholders and 16 board of directors
      • In 1 year the total resources of the bank grew to about $500,000.
      • It was the only depository of the Pan Handle Railroad between Steubenville and Newark.

First National Bank of Dennison

origin story

              • 1933 the business of the bank was taken over by the First National Bank of Dennison located at 308 Grant St., Dennison.
              • 1937 the bank moved to the corner of Grant & N. 1st St and had assets of over $7 million.
              • 1989 they formed a holding company to prevent buy-out, FNB Inc. which is the parent company to the Bank.

Expansion

origin story

                    • 1985 The Bank expanded to Dover, OH
                    • 1991 The Bank added an office in Gnadenhutten, OH
                    • 1996 First National Bank opened a new branch in New Philadelphia
                    • 2000 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.
                    • 2002 Another New Philadelphia office was open.
From its modest origin story in 1874, to 2021 with 5 branches featuring modern facilities and assets exceeding $165 million, the First National Bank of Dennison has continued to grow while serving Tuscarawas county.  It is a full-service bank offering depository services as well as:origin story

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