The Monitor Bank is a full service commercial bank situated in the small town of Big Prairie, Ohio, approximately twelve miles south of Wooster, Ohio. The Monitor Bank is an independent community bank serving the needs of clients in the surrounding counties of Wayne, Holmes and Ashland.
The bank has a rich heritage in the community being chartered on October 7, 1911 as a partnership between John C. Lake and B.A. Lake, father and son. History says that John C. Lake, a wealthy local industrialist and entrepreneur on October 7, 1911, traveled the three mile distance to the Farmers Bank in Shreve, Ohio to withdraw a large amount of cash for the purchase of some machinery and was told by the cashier of the Farmers Bank that the bank did not have that much cash on hand. Being very disturbed that the bank at which he was dealing wasn't able to dispense to him his own cash, he gave them twenty-four hours to come up with the cash and traveled home; on the way deciding that he would open his own bank. Upon his return home he drafted a partnership agreement with his son forming The Monitor Bank, capitalizing it with $2,000.00 and named in honor of the old Civil War battleship, The Monitor. This also being the name of his main product manufactured at his local factory, the Monitor Sad Iron; the first self heating clothing iron manufactured.
The Monitor Bank has continued through the decades, per the Lake Family's wishes, to remain an Independent Community Bank serving the banking needs of its clients in a very personal and professional manner with a full array of personal, small business and corporate accounts, loans and services.