AmeriTrust Corporation

Ameritrust Corporation began in 1894 when The Cleveland Trust Company was founded in Cleveland, Ohio. Cleveland Trust then assumed the contracts of the Security Safe Deposit and Trust Company, also located in Cleveland, Ohio. Beginning in 1903, Cleveland Trust acquired or merged with several other savings banks, including The Windemere Savings and Trust Company and The Western Reserve Trust Company. Cleveland Trust promoted innovative operating policies and procedures, including the establishment of an advertising department in 1913. It increased its number of branch offices through additional mergers, including Lake Shore Banking and Trust Company and The Garfield Savings Bank. Growth continued during the 1920s with the acquisition of the Pearl Street Savings and Trust Company. Two more banks were acquired in the 1930s; Midland Bank and South Euclid Bank. A new six story office building at East 9th Street and Huron Road was constructed in 1962. An adjacent office tower was completed in 1971. In 1974, CleveTrust Corporation, a bank holding company, was formed, with Cleveland Trust as the lead bank. Cleveland Trust was one of six local banks holding short-term notes of the City of Cleveland when financial difficulties in 1978 lead to the city's default on these loans. In 1979, The Cleveland Trust Company's name was changed to AmeriTrust Corporation. In 1986, the name was changed to Ameritrust Corporation. In 1991, Ameritrust merged with Society Corporation, and in 1992, went out of existence as a corporate entity.

From the description of Ameritrust Corporation records, 1871-1991 1893-1991. (Rhinelander District Library). WorldCat record id: 41541763

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