The predecessor of the First National Bank of Coatesville, Indiana was a private organization known as the Coatesville Bank, started in 1902. W.T. Beck was president and James Reed the cashier. The bank changed to the present National Bank in August of 1906 under the same officers. Mr. Reed was succeeded by Mr. C.D. Knight in 1908 with Mr. Beck remaining as president, until 1941. Mr. Paul Darnall succeeded Mr. Beck but upon Paul's sudden death in 1944 C.D. Knight became president and held the position until his retirement in 1958. At that time John J. Gambold was chosen president by the bank directors and held the position until his death a few months ago. The Bank is now under the leadership of a well-known local young man in the person of B.E. Lydick. It was the opinion of the board that Mr. Lydick had all the qualifications necessary for a successful bank president and patrons of the bank feel that "Bill" is the logical man for the place.
In 1913 the First National Bank was a splendid little bank that like other banks around it did all its work the hard way. Now, bank machines have eliminated all the old fashioned ways and made banking work, scientific work.
During the "Depression" of 1939-41 the First National had a top rating and did business as usual each and every day while the country over hundreds of larger institutions was closing their doors.
Officers of the First National Bank to date are: B.E. Lyick, President: Arthur Masten, Vice; C.H. Phillips, Cashier; Dorothy Jenkins, Asst. Cashier.
The Directors of the Bank are. B.E. Lydick, Arthur Masten, Herschel Cline, Lewis Hadley, Woodson A. Darnall, Marion Cline and Mark Hadley.
The assets of this local Bank have climbed from a few thousand dollars in 1902 to over four million dollars at the present time.
(The first National Bank of Coatesville was bought by the Danville State Bank, which was bought by National City Bank of Indianapolis. The branch was closed in the mid 1990's and the building was purchased by the First National Bank of Cloverdale which opened a branch there in the late 1990's.)
© Copyright Town of Coatesville, Indiana. All rights reserved.
Facebook
You Tube
Contact Webmaster
C O A T E S V I L L E
Questions about Coatesville:
Contact Town Hall at 4994 Milton Street
Coatesville, IN 46121 765-386-7205
