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In Federal Reserve membership by August 1943 – merged into Summit Bank, 1983
Founded: The bank's founding year has not been found in the sources searched. It enters the federal record on 11 August 1943, when the Dime Trust & Savings Bank of Fort Wayne was admitted to membership in the Federal Reserve System; its officers as listed on admission included H. G. Hogan and H. W. Baals — Harry Baals, the city's mayor.
Course: Richard T. Doermer joined the bank in 1956 as executive vice-president and a director, and became its president and chief executive officer in 1957. Under Doermer the bank's assets grew from $11 million in 1956 to $400 million by the end of 1983. Along the way the bank took the name Indiana Bank and Trust Company — the name under which it met its merger partner.
Fate: In 1983 the bank merged with another Fort Wayne bank and the combined institution assumed the name Summit Bank; Doermer became chairman and chief executive officer of Summit Bank and of its parent, Summcorp. The other party to the 1983 merger, on the combined account of the sources, was the Peoples Trust and Savings Company, and the bank Doermer led into it was the same bank under its Indiana Bank and Trust name. Doermer retired in 1993 as chairman and chief executive officer of the Fort Wayne-area operations of NBD Bancorp, Summit's successor line — the line that runs on through Bank One to Chase.
Sources:
- Federal Reserve Bank of Chicago, Circular No. 1167 (1943) — the admission to membership of 11 August 1943 and the officers.
- Avis Industrial Corp. v. Commissioner, U.S. Tax Court (filed 11 September 1995) — Doermer's career, the asset growth and the 1983 Summit merger.
- Purdue Fort Wayne, Doermer School of Business biography of Richard T. Doermer — the bank's successive names (Indiana Bank and Trust Company; Summit Bank; an NBD Bancorp affiliate) and his 1993 retirement.