The Bank of Avilla was established September 18, 1914, and the building was completed in 1915. Samuel Salyer was the first majority stockholder and cashier (the title "cashier" was applied to bank officers & managers). Mr. Ivy E. Russell became majority stockholder and cashier in 1919, remaining for its duration, with the stock ledger ending in 1944. Handling farm and business loans, the small bank remained profitable even through the Great Depression of the 1930s, though records are incomplete. This in itself is quite remarkable as almost half of the banks in America had either closed or merged in the 1930s. The productive farms surrounding the town had established Avilla as a valuable agricultural and livestock raising community.