Logan County History: Bellefontaine Building & Loan Co.

1454
By Mary E. Mortimer
The Bellefontaine Building & Loan Co was incorporated on December 14, 1894, with an authorized stock subscription of $500,000. Officers were Robert Colton, President, Melvin C. Boals, Vice President, Reuben B. Keller, Treasurer, Charles B. Cory, Secretary, and John E. West, Attorney. Of the $500,000 stock subscription, only 255 shares at $100 each were subscribed. The new association started with approximately $25,000 in stock. Their office was located at 138 W. Columbus Ave. On January 30, 1895, their first mortgage loan was made for $1,400.
The Bellefontaine Building & Loan Co building at the corner of W. Columbus Ave. and S. Detroit St. was built in 1927. (LCHC PHOTOS)

In 1924, The Bellefontaine Building & Loan Co. advertised they had over two million in assets and had over 5,000 patrons. Their motto was “Where Money Grows”. That same year, they purchased the building at the corner of W. Columbus Ave. and S. Detroit St. that was built in 1885 by E. J. Short. The W.E. Stokes cigar store and the Eads Flower shop that were in the Short building moved to other locations. In 1926, the building was razed for “Logan County’s largest financial institution”.

The A.P. Eveland Co. of Wilmington turned in the lowest bid for the erection of the new facility. The exterior of the two-story building was constructed with Indiana limestone. A custom-made large steel vault with a round vault door was ordered from the Diebold Safe and Lock Co. The round 15-ton vault door was to be the largest and heaviest ever installed in Logan County.

The main floor was finished in marble and included “lounging sofas in the lobby, secluded rooms for private conferences, 6 tellers’ windows, individual telephones for officers and employees, a moveable “kiddie” step for the use of children in transacting business at the teller’s window, and steel money drawers”. The second floor housed the medical offices of C.K. Startzman, MD, C.N. Niles, DDS, R.A. Van Vleck, DO, and J.W. Morrow, DO. Their offices were reached using the Detroit Street entrance.

Through the years, the Bellefontaine Building & Loan Co. featured different displays in their lobby. They hosted the first annual Logan County Corn Show in November 1937. The “Corn is King” show was confined to corn growers and students from Logan County. The corn competition was held at the bank for several years and featured as many as 2,800 ears of corn. In June 1939, the L.J. Zerbee Co. set up a display of their Texteel parlor, living room and porch furniture. The woven steel mesh furniture was made in Bellefontaine on Lawrence St.

In January 1938, the Bellefontaine Building and Loan Co. was granted a Federal Charter and changed their name to the Bellefontaine Federal Savings & Loan Association

Bellefontaine Federal hung a large electronic sign on the corner of their building that posted the time and temperature in March 1960. An official U.S. Weather Bureau type cage was placed over the unit on the roof of the building so the sun and wind would not affect the reading. The temperature accuracy was within a degree.

In March 1967, the building underwent exterior and interior improvements. The renovations included a new large glass entrance, Armstrong Luminaire acoustic ceiling, six V.I.P. walnut panel sections, new drapes and furniture. LPZ Construction of Bellefontaine was the general contractor.

By the early 1970s, Bellefontaine Federal once again felt the need to expand. They purchased the property at the northeast corner of E. Columbus Ave. and N. Madriver that formerly housed the Bellefontaine Fire Department. Ground was broken in September 1975. The building was completed in July 1976 with Thomas & Marker Construction Co. of Bellefontaine as the general contractor. After Bellefontaine Federal moved to its new location, the Logan-Champaign Guidance Clinic and the Tri-County Community Action Commission occupied the building at 149 W. Columbus Ave.

In January 1983, Bellefontaine Federal Savings & Loan consolidated with Security Federal Savings & Loan to form Colonial Federal Savings & Loan.

The former Bellefontaine Federal building was purchased by Ron and Judy Voisard in 1984. They opened Poor Paul’s Café the next year. They remodeled the building into a “discotheque” with a bar on the main floor and the loft. They were in business for about four years. Since then, the building has housed several different businesses.

Visit the Logan County History Center at 521 E. Columbus Ave., Bellefontaine, Ohio 43311, to learn more interesting aspects of Logan County History.

The History Center is open for tours from 1 to 4 p.m. Wednesday – Sunday.
For more, visit the LCHC Facebook page.
Bellefontaine Building & Loan Co. employees pictured in 1895. Fred Arnold is seated at the desk on the left.
Newspaper article from 1926 about the E.J. Short building being razed for the new Bellefontaine Building & Loan Co. office.
The “Corn is King” display inside the Bellefontaine Federal Savings & Loan building in 1939.
Remodeled interior of the Bellefontaine Federal Savings & Loan pictured in 1967.
Groundbreaking on September 26, 1975, for the new Bellefontaine Federal Savings and Loan building at the corner of E. Columbus Ave. and N. Madriver St. (BELLEFONTAINE EXAMINER ARTICLE)
Bellefontaine Examiner photo from January 20, 1983, showing officers of the new Colonial Federal Savings & Loan. Pictured from left to right, seated: Dr. Merrill Insley, and Dr. John W. Morrow. Standing, Thomas Insley and Richard Abraham.
Ron & Judy Voisard pictured in 1984 at their newly remodeled Poor Paul’s Cafe at 149 W. Columbus Ave. The building once housed the Bellefontaine Building & Loan Co. and the Bellefontaine Federal Savings & Loan Co. (BELLEFONTAINE EXAMINER ARTICLE)