The Farmers & Merchants Bank in the spring of 1903. Among its organizers were Joseph M. Briggs, founder of Briggsdale and Daniel Weygandt.
The bank was capitalized for $25,000 and on June 11, 1903 the name was changed to the First National Bank with Briggs serving as president; R.E. Shover, vice-president; and I. Shaffer, cashier.
The bank was located at the corner of Broadway and Columbus Street, on the side of the original plat of the village of Grove City. The building, which still stands, is a had residential rooms and the Citizen’s telephone exchange on the second floor.
The lower floor housed the bank; the directors’ room was in the rear. Depositors money was kept in a steel lined vault with a heavy Mosler door. The vault contains a screw safe for the storage of monies and securities. The building was considered fire resistance and was burglar-proof. Adjoining, and on the south side of the bank, was a single-story frame building used as the Bell and Citizen’s telephone exchange.