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The Baltic State Bank

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The Baltic State Bank

History:

The Beginning. Well, not quite. The picture shown is one taken during a time in which the Baltic State Bank was in it's fifty-seventh year of service to the community. The Bank of Baltic began in the year 1902. Thirteen Years later, on January 29, 1915, the founders of The Bank of Baltic sold their bank to The Baltic State Bank for the sum of $5,500.00. B.C. Fisher was the first President of The Baltic State Bank, and Henry C. Gerber served as the bank's first Secretary, and was named Cashier as well.

Two hundred and fifty shares of the bank were sold for the sum of $100.00. Twenty-four men in the community bought shares. Eight of these men (including J.C. Crile- a member of the family who started the Crile Hospital, which we now know as the Cleveland Clinic) held 20 shares each. In 1958, the shares were split 10 fold, and the capital stock was increased from $25,000.00 to $50,000.00. In 1970, the shares were split, making 5,000 shares, and the capital stock was increased to $100,000.00.



    The Bank has faithfully served this community for 100 years. The Village of Baltic and surrounding area has been the Bank's biggest asset. The pride of the Bank lies in the trust that its customers place in it. Since 1990, the Bank has been in its present location. Currently, the Bank has $38 Million in Assets, but is considerably competitive for its size, drawing business from more than eight local towns in three counties.

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