The Farmers and Mechanics National Bank of Mercer has been in existence since May, 1875, when it was chartered. B. Magoffin was president and active director of this important institution from the time it opened for business until recently. Levi Morrison was also identified with this bank for a number of years as vice president. Its capital stock has always remained $80,000, and its deposits are over a quarter of a million. 

Twentieth Century History of Mercer County, 1909, page 229