Walton Equitable Bank
The Walton Equitable Bank at Walton, Ky., is the result of the merger of two other banks in that town, namely the Equitable Bank and Trust Company and The Walton Bank and Trust Company, this event having taken place in February 1927. The capital stock totaled $50,000 and they had a $50,000 surplus with $30,000 in undivided profits and combined resources of $750,000.00. At the time of the merger the following respected and representative men were chosen as directors: R.C. Greene, President; J.D. Mayhugh, Vice President; D.B. Wallace, E.K. Stevens, Oliver Brown, G.N. Powers, A.M. Edwards, D.E. Dudley, J.C. Bedinger and R.E. Ryle. R.B. Brown and Chas. W. Ransler were also vice presidents with Alan H. Gaines secretary and E. Sleet West, cashier; J. Ben Doan and H.E. Metcalf as assistant cashiers. J.D. Mayhugh was later elected president and upon his death in March 1930 Wilford Rice was selected to fill that high place making him the youngest bank president in the state. After the merger had been effected a beautiful new home for the bank was erected at a cost of $52,000.00. It is a two-story limestone building with one hundred foot frontage on the main street of Walton. The exterior is decorated with marble and two columns of what materially rise nearly the whole heighth [sic] of the building. The interior is also decorated with marble with the woodwork in natural quartered oak finish. A ten-inch vault door guards the public's money further protected by a McClintock Burglar Alarm. Safety deposit boxes are available to all who need the use of such a depository. It is a state bank with trust powers and a member of the Kentucky State Bankers Association. The present directors represent the leaders of their community. They are, Wilford M. Rice, President; R.B. Brown, an attorney; C.W. Ransler, real estate; Geo. C. Kolb, president of Washington Bank, Cincinnati; A.H. Gaines, Manager of the Walton Lumber Company; J.C. Bedinger, farmer; Wm. Brittenhelm, capitalist; D.E. Dudley, retired; A.M. Edwards, President Walton Lumber Company; G.B. Powers, real estate; R.E. Ryle, physician and D.B. Wallace, retired banker and capitalist. The officers are: Geo. C. Kolb, Chairman of the Board; Wilford M. Rice, President; R.B. Brown, Vice President; C.W. Ransler, Vice President; Dr. R.E. Ryle, Vice President; Alan H. Gaines, Secretary; J.T. Murphy, Attorney; E. Sleet West, Cashier and J. Ben Doan and H.E. Metcalf, assistant cashiers. The Equitable Bank and Trust Company was organized September 7, 1907 by J.G. Tomlin, A.B. Tompkins, D.B. Wallace, J.L. Vest and R.M. Byland who made up a capital stock of $50,000.00. At the first meeting of the stockholders the following men were elected as directors: C.L. Griffith, Pres.; J.L. Vest, Vice Pres.; J.B. Donaldson, B.B. Allphin, A.B. Thompson, R.B. Brown, T.T. Metcalf, J.C. Miller, O.S. Watts, W.M. Hudson and H.A. Perkins. D.B. Wallace was the first cashier and served as such until elected president about 1915, serving in the latter capacity until 1925 when he retired and John C. Miller became president. The bank was successful from the start and payed a six percent dividend the first year then eight, ten, twelve, and fourteen percent each year thereafter. The Walton Deposit Bank was started in 1890 as the first bank in Walton, and as a matter of fact the only bank between Williamstown and Covington. The Capital stock of $25,000 was made up but only one half was called for the other half being made up by dividends which was the regular practice in those days. The first officers and directors were Dr. Allen, President; T.F. Curley, vice president; D.M. Bagby, John Hogins, John T. McClure, Elijah Greene, John T. Johnson and Geo. W. Ransler, R.C. Greene was the first cashier until he followed Mr. Bagby into office as President. In 1907 the name of the bank was changed to the Walton Bank and Trust Company when R.C. Gaines was elected president serving until July 1929.
from the 1930 historical edition of The Boone County Recorder