Ottawa County news. (Port Clinton, Ohio) 1931-1956, 1952-09-05
Putin Bay Prepares for Thousands at Grape Festival
Genoa Banking Company To Mark 50th
Year In Business At Open House Friday

This Friday evening the Genoa
Banking Co. will celebrate its
golden anniversary with an open
house for the community which it
has served long and well.
The open house will take place
in the banking rooms between
the hours of seven and nine p. m.
For the jubilee celebration,
something new was added to the
bank over the last weekend.
Harry C. Nehring, executive vice
president, said installation of a
night depository vault was COM
pleted, bringing the banks SER
vice up to a standard as modern
as any metropolitan institution.
No financial institution in this
entire area has had any more
stable business experience than
the Genoa Banking Co., which
opened it's doors on September 9,
half century ago, with an au
thorized capital stock of 5000,
of which $12,500 was paid in and
on the books when the bank op-
ened the doors which we're never
to close through panic or deprcs
sion.
Taylor Was First President
T. P. Taylor was the banks
first president, with E. A. Pow
ers serving as vice-president and
E. G. Bowland, cashier The orig
inal directors included Mr.. Pow
ers, Mr.. Bowland, C. N. Hansen,
S. T. Wood and Mr.. Taylor.
Mr.. Bowland was the active
cashier of the bank continuously
from it's opening until his retire
ment on June /, 1851. He was
also a member of the board of di-
rectors until his death June 80,
of this year. He completed more
than 49 years of service to the
bank he helped to organize and
was the last member of the orig
inal board.
The bank has enjoyed a re-
markably steady growth down
through the years, its present
capital stock being $4,000, with
surplus of $4,000, and undivid
ed profits of $73,885.O5. In its re.
serve account the bank carries
$4,000 and its total resources
have grown to more than three
and one-half million dollars.
Community Helping Hand
Throughout its SO proud years
the Genoa Banking Company has
been a helping hand to the com
munity. 1t has assisted many ir
buying their homes, others to
start in business, as well as help
ing businesses already establish
ed, with their problems. 1t now
offers it's customers all types O.
banking services. 1t is a member
of the Federal Reserve Bank Sys
tenn and the Federal Deposit IN
surance Corp, in which deposit
ors are insured to $4,000.
Included in the banks impor
tant assets, it might be added, il
the great goodwill which is ex
changed between the bankin,
staff and the many customers O
the Genoa community.
Dr.. Bowman Is Head
DR.. Galen F. Bowman is tn
present president of the bank. c
E. Wood is first vice-presiden
and A. C. Witt is second vice
president. Harry c. Nehring i
executive vice-president and Col
don A. Claus is cashier. Tt
banks operations are under th
direction of Mr.. Nehring. TIL
staff includes Cashier Claus, Mrs
Gertrude Sage, Mrs. Joyce La
Plant, Mrs. Ann Johnson, Mis-
Janet Coleman and Miss Met
Buehler.
Members of the present boar
Of directors of the bank are
DR.. Bowman, Mr.. Nehring, Judg
Tom D. Stahl, John Stevens, Nj
Witt and Mr.. Wood.
The bank officers and stai
members will be on hand Frida
evening to greet their customer
during the open house hours thi
Friday evening. During the pa:
weeks, many messages of col
gratulations have been receive
by the banks personnel on tn
hank,u fiftiafh hirthdax