Tolu, was once a thriving river port town, located near the Ohio River in the Western section of our county. In the early 1900's Tolu was a rich agricultural section of our county and a bank was very needed for their town. The picture at the right is of the new bank built in 1904.
Mr. John W. Weldon of Crofton, Ky, was in charge of construction. The brick and lime for the new bank was shipped by riverboat from Henderson, Ky to the landing at Tolu. Mr. A. C. Melton was in charge of the brickwork. The impressive iron front for the bank also arrived by riverboat from Evansville, Ind.
The new bank was completed in July of 1904 and it was name the Farmers and Merchants Bank.
The first stockholders of this bank were: P. M. Whitt, Forest Harris, Wm. Barnett, E. R. Dowell, P. B. Croft, L. A. Weldon, Mrs. A. S. Bennett, S. S. Sullenger, W. D. Sullenger, Dr. I. H. Clement and J. B. Perry. Mr. P. B. Crost was chosen to be the President, J. Bethel Perry, vice-president, and E. F. Smith of Owenton, Ky., cashier. The town was very proud of their new bank and honored to give it their support.
This bank mysteriously burned on the night of August 2, 1923. Things at Tolu were never the same after the fire. Claims were made and people accused of sitting the fire. The damage was done and the prosperity of the town was hurt. This incident in Tolu's colorful history is still talked about today.
The brick that remained from the fire was cleaned and reused to built a general store for Rudell Jacobs. The picture at the left is of the old abandoned building, made in 2004. It is trying to hold it's own, but weather and time are surely taking it's toll and it's now unsafe to go inside.