Newspapers / The Kings Mountain Herald … / Jan. 20, 1950, edition 1 / Page 2
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1900 OFFICERS F. R. SUMMERS B. S. NEILL R. L. MAUNEY L. E. ABBOTT President ?\ ^ Executive Vice-President * t r, Vice-President Cashier Assistant Cashier DIRECTORS DR. L. P. BAKER ** GLEE A. BRIDGES W. K. MAUNEY R. L. MAUNEY B. S. NEILL P. M. NEISLER F. R. SUMMERS M. A. WARE >? . Dentist Merchant Manufacturer Manufacturer Executive Vice-President . . Manufacturer ? President Manufacturer CONSOLIDATED STATEMENT At close of business December 31, 1949 RESOURCES Cash on Hand and Due from other Banks $ 906,067.20 U. S. Government Securities .^. 1,254,388.50 State, County and Municipal Bonds 307,052.36 Other Bonds . . . . . i 79,000.00 Stock in Federal Reserve Bank 6,000.00 Cash Surrender Value of Life Insurance . . 3,440.00 Loans and Discounts . ; . . 1,057,597.91 Banking House and Furniture and Fixtures ..... ? 59,300.00 Accrued Interest 409.31 total . ... . $3,673,255.28 LIABILITIES Capital Stock . $ 100,000.00 Surplus 100,000.00 "Undivided Profits and Reserves ..... . . 80,246.63 War Loan Deposit . ?? .' 50,291.98 DEPOSITS . . . . ' 3,342,716.67 TOTAL ........ ..............V.. ...... $3,673,255.28 I The First National Bank, at this half-century mark, has good reason for feeling especi ally grateful for the large measure of public support and patronage which has grown in strength andservice during the past 50 years, for the First National Bank of Kings Moun *cin fully recognizes th^rt it is good customers who make good banks. Banks grow by serving their customers, city and section. Although started on a small scale, the First National was serving its customers in 1900 to the best of its ability, just as it is today , and is glad to have taken advantage of the opportunities to serve and assist in the progress of the Kings Mountain area. our earnest desire to be of more service to more people than ever before* The bank shall continue its policy oi taking care oi the HnanciaTneeds oT^ commerce, industry, agriculture and of the individual in every way consistent with sound practice. ' . ? . * .. ? ?*..*. ?. ? ? t ? ? ? ? NdtlWldl Endeavors at all times ?0 take care of the needs of the individual, as well as commerce and industry. At the present time, more than 800 people have personal loans at this bank, repaying them on a weekly, semi monthly or monthly basis. The bank is now making plans to keep this department open each day until 5 o'clock. The First NdtiODdl Bdllk Encourages savings. It now offers holders of savings accounts two percent interest on all amounts up to $1,000, and one percent on amounts over $1,000. The in crease in rate on savings is in line with the policy of the bank to pay as much on savings as possible, in the face of the fact tfyat The First National Bank is the only fi nancial institution in Kings Mountain which pays fed eral income taxes. . . - . ? ? ' ? .* ??? ? \ ' . .?'* . ; ' - *"? ;> j .* 1 J ? ? ' ' C. ?* - *\ ? ? . ; ? . . f ' * * The FilSt NdtiOHdl Bdllk ? Aids the farmer and encourages improved farming practices. -During 1949, over 500 agricultural loanB v were made to farmers of t>*? Kings Mountain area. ? ; .*? J - " -C '.T\? j,*"; ?? ? ; " . ?? : I.. ^ i-S, *i?t~ Vv ' Tie First National Bank? Is a Safe Bank, for several reasons- A total of 98 percent of its depositors have their accounts insured by the Federal Insurance Deposit Corporation, at no cost to the depositor, but at a monthly cost to the bank of about $250 : This bank, being a national bank, must comply with many special laws which is a !actor in its Safety and another iartor in the safety of the bank is the fact that the First National has shown profit over the years. Only a part of these profits have gone to the* stockholders. The majority has been plowed into sur plus accounts and reserves, and to capital improve ments, all a factor in increasing the strength of the' bank and its ability to serve. The First National Bank Wants Your Banking Business
The Kings Mountain Herald (Kings Mountain, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
Jan. 20, 1950, edition 1
2
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