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HANCOCK COUNTY WEST VIRGINIA - BIOS: PETERSON, David M.
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Submitted to the West Virginia Biographies Project by:
Valerie & Tommy Crook
vfcrook@trellis.net
September 26, 1999
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The History of West Virginia, Old and New
Published 1923, The American Historical Society, Inc.,
Chicago and New York, Volume III,
pg. 272
Hancock County
DAVID M. PETERSON. A business experience covering a
number of years is honorable or otherwise, according to
its nature, but in either case it develops capacity and
broadens the outlook upon life. While every honorable
career must include certain qualities to attain success, that
of the banker finds those qualities indispensable which rest
on a higher plane than in many other lines and for this
reason, if for no other, the banker occupies a position in
a community of a distinctive character. While he is still
comparatively a young man, David M. Peterson has hail
sixteen years of honorable experience in the banking busi-
ness, and at the present time occupies the position of vice
president of the Bank of Weirton.
Mr. Peterson was born at Steubenville, Ohio, May 24,
1888, a son of one of the successful and influential busi-
ness men of that city who lived in retirement for some
years before his death. The education of David M. Peter-
son was acquired in the graded and high schools of
Steubenville, and when he was only eighteen years of age
he began his banking career as a minor employe in the
National Exchange Bank of Steubenville, with which in-
stitution he remained for six years, during which time he
gained not only promotion but valuable experience. In
]912 he came to Weirton to become cashier of the Bank
of Weirton, of which he has since become vice president.
This institution was chartered in 1911 and was opened for
business in April, 1912, with a capital of $40,000, those
active, in its organization being E. T. Weir, president;
and Cyrus Ferguson, the first vice president. At the pres-
ent time the officials are: E. T. Weir, president; D. M.
Peterson, vice president; H. E. Hawkins, cashier, and
E. D. Rothrock, assistant cashier, the board of directors
consisting of: E. T. Weir, D. M. Weir, C. Ferguson, W. J.
Hudson, G. L. Buchanan, J. A. Purdy, F. S. Loeb, D. M.
Peterson and J. C. Williams. The bank now has resources
of $1,500,000, and has paid dividends regularly. In 1921
a modern banking house was constructed by and for the
bank, which includes all the latest devices and appurte-
nances for the insuring of absolute safety for the deposi-
tors' money.
Mr. Peterson is one of the popular men of Weirton,
both among his business associates and the depositors of
the institution which he represents. He is a thirty-second
degree Mason and member of Aladdin Temple of the
Mystic Shrine at Columbus, Ohio, and in polities supports
the republican party's candidates. He is unmarried.
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