Newspapers / The Kings Mountain Herald … / Jan. 20, 1950, edition 1 / Page 3
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1900 1950 V OFFICERS v F. R. SUMMERS B. S. NEILL R. L. MAUNEY L. E. ABBOTT J. C. McKINNEY, President ^ . Executive Vice-President ** > 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 v.. Dentist '?V. s j *. ? ? ? . s ? ' ' ?? . Merchant Manufacturer Manufacturer Executive Vice-President " "? , ;? ' " <1/ , ' . ' Manufacturer President Manufacturer CONSOLIDATED STATEMENT At close of business December 31, 1949 RESOURCES Cash on Hand arid Due from other Banks $ 906,067.20 U. S. Government Securities v ....... 1,254,388.50 State, County and Municipal Bonds 307,052.36 Other Bonds 79,000.00 Stock in Federal Reserve Bank 6,000.00 Cash Surrender Value of Life Insurance 3,440.00 Loans and Discounts V 1,057,597.91 Banking House and Furniture and Fixtures .... 59,300,00 Accrued Interest . . . 409.31 TOT A I $3,673,255.28 LIABILITIES ? . . ? v. ? .. 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,tl6.67 TOTAL ... $3,673,255.28 ? The First National Bank, at this half-century mark, has good reason lor feeling especi ally grateful for the large measure of public support and patronage which has grown in strength and service during the past 50 years, for the First National Bank of Kings Moun tain fully recognizes that 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. < ? ? ? ? ? ? * ' ?? ? * - " * ? ? ' X l ? ?? " ? % . / ? As we move ahead into 1950, it is our earnest desire to be of more service to more people than everBglcli^TOalseffilf newftrof^ commerce, industry, agriculture and of the individual in every way consistent with sound practice. ? The FilSt NatiOQdl Bdllk Endeavors at all times to 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 National Bank " Encourages savings. It now offers holders of saving*; 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 th&t The First National Bank is the only fi nancial institution in Kings Mountain which pays fed ' ? . ? eral income taxes. The First National Bank? Aids the farmer and encourages improved farming practices. During 1949, over 500 agricultural loans were made to farmers of the Kings Mountain area. ? p. " ' ? vV -V V^^sT^-y^ "*v? ^ .? , The 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 aepositor, 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 factor in its Safety and another factor in the safety of the bank is the fact that the First National has shown profits over the years. Only a part of these profits ha*e 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 Took Banking Easiness
The Kings Mountain Herald (Kings Mountain, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
Jan. 20, 1950, edition 1
3
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