| | Abstract: | Society Corporation was Ohio's first registered bank holding company, formed in 1958 when the Society for Savings (founded in 1849 as a mutual savings bank) was merged into Society National Bank (a stock bank organized in 1956 to provide commercial banking services as a subsidiary of Society for Savings). Myron T. Herrick was president of Society for Savings from 1894-1905 and 1908-1921. A pioneer in issuing term and capital loans during the Depression, Society was also a leader in marketing and promotional methods for attracting new depositors. The unprecedented unification of Society for Savings and Society National Bank in 1958 was orchestrated by president Mervin B. France. Litigation regarding the merger was not settled until 1962. By 1989, Society Corporation had affiliates in four regions of Ohio and controlled assets of over $9 billion. Its most formidable acquisition was that of Centran Corporation in 1985, itself a regional multi-bank holding company. The collection consists of records of the Society for Savings, Society National Bank, and Society Corporation, including acts of incorporation, charters and bylaws, histories, passbooks, personal papers of past presidents (especially Samuel H. Mather), minutes of trustees' and annual meetings from 1849, annual financial reports and quarterly statements, ledger books, administrative and secretarial files, bank newsletters, news and publicity releases, and scrapbooks. Included are files on bank "runs", World War I Liberty Loan drives, 1955 legislative activity regarding the formation of Society National Bank, the merger of Society for Savings into Society National Bank and the creation of Society Corporation. The collection also contains branch acquisition files and files of affiliate acquisitions, i.e. Centran Corporation and Central National Bank of Cleveland. Of particular note are reports on attracting new depositors, public relations and advertising files, and material on the construction and renovation of Society's headquarters. Also included are records of the law firm of Mather & Strong, the Cleveland Mutual Insurance Co, and Levi Sartwell, general agent of the Neil Stageline. | |
