Difference between revisions of "Wayne Savings Community Bank"
Line 85: | Line 85: | ||
In 1902, the Directors voted to purchase the lot on the southeast corner of North Market and North Streets at a cost of $900. A two-story building was completed in 1903 and remains an important part of the present Wayne Savings building today<ref><i>Wayne Savings Community Bank: Celebrating 100 Years, 1899-1999</i>, p.7</ref>. An additional lot was purchased in 1912 for a building addition of buff brick and terra cotta trim, including a fireproof vault, constructed by Long & Bogner of Wooster<ref><i>Wayne Savings Community Bank: Celebrating 100 Years, 1899-1999</i>, p.9</ref>. | In 1902, the Directors voted to purchase the lot on the southeast corner of North Market and North Streets at a cost of $900. A two-story building was completed in 1903 and remains an important part of the present Wayne Savings building today<ref><i>Wayne Savings Community Bank: Celebrating 100 Years, 1899-1999</i>, p.7</ref>. An additional lot was purchased in 1912 for a building addition of buff brick and terra cotta trim, including a fireproof vault, constructed by Long & Bogner of Wooster<ref><i>Wayne Savings Community Bank: Celebrating 100 Years, 1899-1999</i>, p.9</ref>. | ||
+ | |||
+ | The Great Depression led to lean years for the Wayne Building and Loan Company. The Company's June 30, 1930 statement sought to reassure customers that "All money deposited with the Company is loaned only on first mortgage security, and in the future as in the past it will be a continued policy of The Wayne to place SECURITY FIRST in the conduct of its business"<ref><i>Wayne Savings Community Bank: Celebrating 100 Years, 1899-1999</i>, p.13</ref>. In 1932, for the first time, The Wayne had to lower their dividend below 6 per cent to 5 per cent per annum as well as to require withdrawal notice. The company's assets slowly dwindled through the 1930s until hitting a low point in 1943, but as the nation began to prosper again, so too did The Wayne, and by 1947 the company was able to state in the annual letter to stockholders that The Wayne had nearly doubled in three years' time<ref><i>Wayne Savings Community Bank: Celebrating 100 Years, 1899-1999</i>, p.15</ref>. | ||
+ | |||
+ | The 1960s saw many changes and much growth for The Wayne. In 1961, the company announced its membership in the Federal Savings and Loan Insurance Corporation. In 1964, the company changed its name to The Wayne Savings & Loan Company, and the offices on North Market Street were remodeled (completed in 1965). The first branch office, in Millersburg, opened in 1964 and became the first branch with a drive-thru window. Branches also opened in Ashland (1968), Barberton (1969), Rittman (1972), a drive-thru in downtown Wooster (1974), Cleveland Road in Wooster (1978), and Lodi (1980)<ref><i>Wayne Savings Community Bank: Celebrating 100 Years, 1899-1999</i>, p.18</ref>. | ||
+ | |||
+ | In 1993, Wayne Savings completed a reorganization from a mutual institution to a stock owned company, with the sale of 600,000 shares of common stock to approximately 850 depositors. The stock is traded on the NASDAQ stock exchange under the symbol WAYN<ref><i>Wayne Savings Community Bank: Celebrating 100 Years, 1899-1999</i>, p.20</ref>. | ||
+ | |||
+ | The original building underwent renovations again in 1996-97, and a new financial center opened on Cleveland Road. The company changed its name again, this time to Wayne Savings Community Bank. | ||
==Slogans== | ==Slogans== |
Revision as of 12:25, 17 August 2021
Current Contact Information | |
---|---|
Address | 1908 Cleveland Rd |
City, State, Zip | Wooster, Ohio 44691 |
Phone |
|
Contact Person | H Stewart Fitz Gibbon |
Last updated | 2016-03-23 |
Type | Consumer Lending; Commercial Banking; Savings Institutions |
---|---|
Industry | Finance & Insurance |
Fate | Active |
Founded | 1899 |
Headquarters | Wooster, Ohio, United States |
Number of locations | 1908 Cleveland Rd, Wooster, Ohio |
Key people |
|
Website | http://waynesavings.com |
Locations
- 151 N. Market St., Wooster, Ohio 44691
- 1908 Cleveland Rd., Wooster, Ohio 44691
- 2024 Millersburg Rd., Wooster, Ohio 44691
- 543 Riffel Rd., Wooster, Ohio 44691
- 121 N. Main St., Creston, Ohio 44217
- 237 N. Main St., Rittman, Ohio 44270
- 233 Claremont Ave., Ashland, Ohio 44805
- 1055 Sugarbush Dr., Ashland, Ohio 44805
- 303 Highland Dr., Lodi, Ohio 44254
- 90 N. Clay St., Millersburg, Ohio 44654
City Directories
Comprehensive History
In 1899, The Wayne Building and Loan Company was incorporated as a savings and loan "to bring together the people with money to save and the people who wanted homes"[1]. The office was located on the northeast corner of Public Square in an office shared with Jesse McClellan and J. G. Sanborn. By the end of 1899, the business had 241 savings depositors and a healthy annual statement of earnings.
In 1902, the Directors voted to purchase the lot on the southeast corner of North Market and North Streets at a cost of $900. A two-story building was completed in 1903 and remains an important part of the present Wayne Savings building today[2]. An additional lot was purchased in 1912 for a building addition of buff brick and terra cotta trim, including a fireproof vault, constructed by Long & Bogner of Wooster[3].
The Great Depression led to lean years for the Wayne Building and Loan Company. The Company's June 30, 1930 statement sought to reassure customers that "All money deposited with the Company is loaned only on first mortgage security, and in the future as in the past it will be a continued policy of The Wayne to place SECURITY FIRST in the conduct of its business"[4]. In 1932, for the first time, The Wayne had to lower their dividend below 6 per cent to 5 per cent per annum as well as to require withdrawal notice. The company's assets slowly dwindled through the 1930s until hitting a low point in 1943, but as the nation began to prosper again, so too did The Wayne, and by 1947 the company was able to state in the annual letter to stockholders that The Wayne had nearly doubled in three years' time[5].
The 1960s saw many changes and much growth for The Wayne. In 1961, the company announced its membership in the Federal Savings and Loan Insurance Corporation. In 1964, the company changed its name to The Wayne Savings & Loan Company, and the offices on North Market Street were remodeled (completed in 1965). The first branch office, in Millersburg, opened in 1964 and became the first branch with a drive-thru window. Branches also opened in Ashland (1968), Barberton (1969), Rittman (1972), a drive-thru in downtown Wooster (1974), Cleveland Road in Wooster (1978), and Lodi (1980)[6].
In 1993, Wayne Savings completed a reorganization from a mutual institution to a stock owned company, with the sale of 600,000 shares of common stock to approximately 850 depositors. The stock is traded on the NASDAQ stock exchange under the symbol WAYN[7].
The original building underwent renovations again in 1996-97, and a new financial center opened on Cleveland Road. The company changed its name again, this time to Wayne Savings Community Bank.
Slogans
- 1930s: Founded on Confidence!
Historical documents
Timeline
- 1899: The Wayne Building and Loan Company is incorporated
- 1902: Directors vote to purchase lot on corner of North Market and North Streets to build new offices
- 1903: Building completed
- 1911: Semi-Annual Statement shows assets over $1,000,000 for the first time
- 1912: Adjoining lot purchased for expansion of the building
- 1917: New building addition opened
Gallery
Business Letterheads
Business Photos
Newspaper articles
Newspaper full-text articles
Newspaper ads
Newspaper citations with no attached images
References
- ↑ Wayne Savings Community Bank: Celebrating 100 Years, 1899-1999, p.5
- ↑ Wayne Savings Community Bank: Celebrating 100 Years, 1899-1999, p.7
- ↑ Wayne Savings Community Bank: Celebrating 100 Years, 1899-1999, p.9
- ↑ Wayne Savings Community Bank: Celebrating 100 Years, 1899-1999, p.13
- ↑ Wayne Savings Community Bank: Celebrating 100 Years, 1899-1999, p.15
- ↑ Wayne Savings Community Bank: Celebrating 100 Years, 1899-1999, p.18
- ↑ Wayne Savings Community Bank: Celebrating 100 Years, 1899-1999, p.20
What Links Here
- Individuals with Gibbon Surname
- Individuals with Brandenburg Surname
- Individuals with Doheny Surname
- Individuals with Swartzentruber Surname
- Individuals with Lehman Surname
- Individuals with Neusbaum Surname
- Individuals with King Surname
- Individuals with Becker Surname
- Individuals with Buehler Surname
- Individuals with Ciccotelli Surname
- Individuals with Gardner Surname
- Individuals with Miller Surname
- Individuals with Schmitz Surname
- 151 N. Market St., Wooster, Ohio
- 1908 Cleveland Rd., Wooster, Ohio
- 2024 Millersburg Rd., Wooster, Ohio
- 543 Riffel Rd., Wooster, Ohio
- 121 N. Main St., Creston, Ohio
- 237 N. Main St., Rittman, Ohio
- Banks
- Banks (active)
- Banks in Ashland, Ohio
- Banks in Ashland, Ohio (active)
- Banks in Creston, Ohio
- Banks in Creston, Ohio (active)
- Banks in Lodi, Ohio
- Banks in Lodi, Ohio (active)
- Banks in Millersburg, Ohio
- Banks in Millersburg, Ohio (active)
- Banks in North Canton, Ohio
- Banks in North Canton, Ohio (active)
- Banks in Rittman, Ohio
- Banks in Rittman, Ohio (active)
- Banks in Wooster, Ohio
- Banks in Wooster, Ohio (active)
- Businesses established in 1899
- Businesses in Ashland, Ohio
- Businesses in Creston, Ohio
- Businesses in Lodi, Ohio
- Businesses in Millersburg, Ohio
- Businesses in North Canton, Ohio
- Businesses in Rittman, Ohio
- Businesses in Wooster, Ohio
- Businesses in the Finance & Insurance industry
- Finance & Insurance businesses (active)
- Finance & Insurance businesses in Ashland, Ohio
- Finance & Insurance businesses in Ashland, Ohio (active)
- Finance & Insurance businesses in Creston, Ohio
- Finance & Insurance businesses in Creston, Ohio (active)
- Finance & Insurance businesses in Lodi, Ohio
- Finance & Insurance businesses in Lodi, Ohio (active)
- Finance & Insurance businesses in Millersburg, Ohio
- Finance & Insurance businesses in Millersburg, Ohio (active)
- Finance & Insurance businesses in North Canton, Ohio
- Finance & Insurance businesses in North Canton, Ohio (active)
- Finance & Insurance businesses in Rittman, Ohio
- Finance & Insurance businesses in Rittman, Ohio (active)
- Finance & Insurance businesses in Wooster, Ohio
- Finance & Insurance businesses in Wooster, Ohio (active)
- Historic Downtown Wooster
- Wayne Savings Community Bank