“C. Ferguson & Son Bank Formed” – December 2, 1872

On December 2, 1872, the firm of C. Ferguson & Son purchased the Townsend & Currier bank.  Charles Ferguson and his son, Charles R. Ferguson were the bank’s owners.

C. Ferguson & Son was the only bank in Almont until the Almont Savings Bank was organized and opened in 1909.

Competition eventually put a strain on the bank.  With the outbreak of World War I came tighter credit.  The value of the bank’s securities decreased and creditors defaulted on their loans.  Ultimately, in 1921 the bank closed.  Posted on the bank’s doors was the message; “On Account of the withdrawal of deposits, it has been necessary to close this bank.