AMERICAN EXCHANGE BANK

The American Exchange Bank was incorporated July 13, 1889 and bank business began on September 9, 1889. The incorporators were F. E. Stevens, E. A. Stopher, W. S. Waters and C. D. Stevens. The bank first used an existing building near the corner of 4th and D Street. This two-story brick building was 60 ft by 28 ft by 24 ft and had brick walls 14 inches thick. The vault in the building was 14 ft by 14 ft by 12 ft. The building cost of the 1892 building was $4,911.89. The bank occupied this building for 82 years. In 1974, the bank built a new 40 ft x 60 ft building one block north to its present location at 151 N. Fourth Street. This building also has a full basement available for community meetings... The Aldrich family became involved with the bank on April 1, 1909. On that date John P. Cobb purchased 60% of the bank stock and Charles S. Aldrich purchased 20%. These two became president and vice-president and received a monthly salary of $75. Bess Streeter Aldrich, best selling..

Primary location: Elmwood United States