The close of the bank and the winding up of its affairs necessitated the disposal of the real estate for the purpose of dividing the assets among the stockholders. Messrs. T. P. Handy, H. B. Payne, and Dudley Baldwin were appointed commissioners to close up the affairs of the bank and discharge its liabilities. This being done, the remaining cash and real estate were divided among the stockholders, who appointed Mr. Handy their trustee to dispose of the property. This was accomplished in 1845, when Mr. Handy made his final settlement. During the time subsequent to the close of the bank, he had been carrying on a private banking business under the name of T. P. Handy & Co. In the Winter of 1845, the State Legislature passed a law authorizing the establishment of the State Bank of Ohio, and of independent banks. In November of that year, Mr. Handy organized the Commercial Branch of the State Bank of Ohio, with a capital of one hundred and seventy-five thousand dollars, and took position in it as cashier, the president being William A. Otis, and the directors, additional to Messrs. Otis and Handy, being John M. Woolsey, N. C. Winslow, and Jonathan Gillett. Mr. Handy was the acting manager of the institution, and so successful was his conduct of its affairs that the stockholders received an average of nearly twenty per cent. on their investment through nearly the whole time until the termination of its charter in 1865, a period of twenty years. His policy was liberal, but with remarkable judgment he avoided hazardous risks, and whilst the bank always had as much business as it could possibly accommodate, the tightest times never affected its credit. Whilst the Commercial Branch Bank was having such uninterrupted success, the Merchants Branch of the State Bank of Ohio, on the same street, was experiencing a run of bad fortune. The failure of the Ohio Life and Trust Company embarrassed it for a time, and other causes conspired with this to cripple its resources. In 1861, the stockholders invited Mr. Handy to take charge of its affairs as president, and he accepted the trust. His usual success followed him to his new position, and the affairs of the bank were suddenly and permanently improved. In February, 1865, in common with most of the State banking institutions, the Merchants Branch Bank stockholders decided to wind up the concern as a State institution, and avail themselves of the provisions of the National Banking Act. The Merchants National Bank was organized with an authorized capital of one million of dollars, of which six hundred thousand dollars was paid in, Mr. Handy assuming the presidency, and having associated with him in the management, Messrs. T. M. Kelley, M. Barnett, William Collins, James F. Clark, Samuel L. Mather, and William Bingham. Under this management the bank has thus far had an uninterrupted tide of prosperity, with every prospect of its continuance.