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August 8, 2020
 

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Liberty Bank in Ada at the turn of an early century

Here's a photo of Liberty Bank of Ada. The photo was taken sometime after 1902. It eventually merged with First National Bank and became Liberty National Bank. Here's a brief account of the two banks.

Liberty National Bank has a long Ada history. A new bank was organized and opened for business in Ada on Oct. 3, 1893. It was first chartered and organized as a state bank under Ohio laws and was known as the Ada Savings Bank.

The original capital structure was $25,000. On June 8, 1901, the bank was granted a charter to operate as a national bank and it was then that it became know as the First National Bank of Ada.

When the Federal Reserve System was formed in 1913 the First National Bank immediately became a member. The Liberty Bank was organized in April of 1902. By October of 1902 deposits in the Liberty Bank totaled $66,500. For many years these two banks served the Ada area. 

In 1958, the board of directors of these two institutions joined forces and decided to merge the two banks for the good of the community. By Sept. 30, 1958, this was accomplished. At the time of the merger the bank's present name, Liberty National Bank, was adopted and total assets exceeded $4 million. The new bank building was completed and dedicated in 1961. 

This photo is from the post card collection at Ada Public Library. The information about the bank is from Liberty National Bank's website.