The 97 years old John G. McCoy, who transformed a small Ohio bank into one of the country's largest financial institutions, has died at his home in New Albany, Ohio.

The Columbus Dispatch reported on Monday that McCoy died on Saturday.

The newspaper further said that as the head of Banc One Corp. and its predecessor City National Bank & Trust, McCoy was an early advocate of the potential of bank mergers, and was known for adopting unorthodox methods to attract customers.

"Gentlemen, it's very simple. You can have either dignity or dividends. I vote for dividends," , he had said, confronting angry board members over the use of comedian Phyllis Diller in 1962 radio and TV commercials for his bank.

The Dispatch also said that McCoy was a major philanthropist in Ohio, supporting Nationwide Children's Hospital and other charitable causes.

Jamie Dimon, Chairman and Chief Executive Officer of JPMorgan Chase & Co, said, "John G. McCoy was an innovator and a real giant in our industry."

It was also informed by the newspaper that Chase acquired Banc One in 2004.

Dimon said, "But, more important than that he was a great and generous man who provided generations of bankers, including me, with warm counsel and support." (With Inputs from Agencies)