On June 29, 1904, The Citizens Savings Bank of Thurmont, Maryland purchased a then vacant lot located at 10 E. Main Street from James T. Waesche (1849-1934) and Cassandra Cover Waesche (1850-1931) with the intention of constructing a “modern” bank with a vault and “other accessories.”  Mr. James T. Waesche was a prominent citizen of Thurmont having served as a director and superintendent of the Mechanicstown Water Company (formed in 1887), a founder and director of The Citizens Savings Bank of Thurmont, Maryland, a director of the Auto Car Company, and a stockholder in the local newspaper, the Catoctin Clarion. He and his wife had acquired this vacant lot (which is 10 E. Main Street) that same year from Joseph M. Freeze.  This vacant lot was situated between the then residence of Joseph Freeze (adjacent to the west) and the Masonic Temple building (adjacent to the east).  The Citizens Savings Bank of Thurmont, Maryland began construction of the bank building almost immediately and it was completed and opened for business in November, 1904. The building is ornamented with rusticated stone work, glazed brick and iron cornices and trim. The Citizens Savings Bank had been formed and originally opened for business on October 1, 1903, in the former Mackley Brothers Building then located across the street.

The Citizens Savings Bank of Thurmont, Maryland was the second bank in Thurmont and according to local newspaper accounts there was some concern that two banks in Thurmont were too many. The other bank in Thurmont at the time was the “Thurmont National Bank” chartered in 1901 and located at 4 W. Main Street (the present site of The Vault 1891) – the Thurmont National Bank was the first federally charted bank in Frederick County outside of the City of Frederick. The concept of a “savings bank” was to divide its profits among its depositors. You could open a savings account with The Citizens Savings Bank with as little as five cents!

The motto of The Citizens Savings Bank of Thurmont, Maryland was:
“To be Liberal; to be strong, to hold our customers interest as identical with our own, protecting them accordingly, to do business with you today on the principle that we expect to do business with you always.”

In 1921 The Citizens Savings Bank of Thurmont, Maryland merged with the Central Trust Company in an attempt to strengthen its financial condition and title to 10 E. Main Street was transferred to the Central Trust Company. Essentially, The Citizens Savings Bank building became a branch or a “station” of the Central Trust Company.  The Central Trust Company operated multiple banking branches throughout Frederick County and Carroll County. The Central Trust Company failed during the Great Depression and all of its branches, including the Thurmont branch, were closed. Many Thurmont residents lost their life savings. Ultimately, a receiver was appointed to liquidate the assets of Central Trust Company. 

Prior to the appointment of the receiver, the Central Trust Company sold 10 E. Main Street to Joseph W. Fry (1892-1968) and Ione Fry (1895-1923); the sale occurred in 1927.  Joseph Fry worked at the Western Maryland Railroad until his retirement and also taught at the Frederick County public schools. At some point after the purchase by Joseph Fry, the building became a bar and tavern operating under the names of the “Thurmont Tavern” and “Thurmont Bar and Grill” by various owners, including, Wilbur and Mary Rentzel (owner of the property from 1970-1981 but had begun operating the bar in 1967), Curtis (aka “Buddy”) and Janice Powell (owner from 1981-1992) and David “Skipper” and Penelope Misner (owner from 1992-2022). In 2022, the building was renovated and reopened as 10Tavern (the current business in the building) although ownership of the building did change in 2025.