Banks Amazing Records 1960  

Banks Continue To Establish Amazing Records

$898,413 Increase Over June, 1959

In last week's edition of the Culver citizen, the State Exchange Bank of Culver and Argos and the Farmers State Bank of LaPaz published their most impresive statement of condition as of June 15.

When compared with the statement as of a year ago it shows a fine increase of $898,413,65 int the total combined resources of these banks, which in the opinion of their officals is an excellent record considering the, fact that many banks are showing decline in their resources over a yeara go. It is most interesting to learn that the capital amount of these affiliated banks has been substantially increased in keeping with the fixed policy of the directors to increase their captial account as deposits increase.

Largest Capital Account Of Any Indiana Country Bank

The combined statement of these Marshall County banks, as of June 15, 1960, showas a total comnined capital accounty of nearly $2 million, which is the largest capital account of any country bank operating in the STate of Indiana.

The mid-year-statement of these banks is never as large as the year-end statement, which accounts for the mid-year statement being less than the year-end statemenr each year.

State Exchange Finance Co. Now $5 Million Firm

W. O. Osborn, president of the three banks, was also greatly pleased with the res ults of the first six months' business of the State Exchange Finance Co., an affiliate, which now shows total resources of nearly $5 million.

New Electronic Bookkeeping Machine's Tr uly Amazing

The Culver bank has recently installed perfectly amazing electronic bookkeeping machines fo use in the bookkeeping department.

In the near future a f ull page ad will be run in this newspaper expalining in detail the manner which these machines operate, including a machine that the bank now has which enables it to print personalized checks while its customers wait.

It also has been learned that more than four months have been spent in revising the bookkeeping department of the State exchange bank at Culver , and that its officers and employees now feel thet have one of the latest and most efficient banking equipment systems to be found anywhere.

The officials of these tr uly outstanding banks fell deeply obligated to their many loyal customers who who have made such a remarkable progress report possible .

Resources Nearly $31 Million

Just think of it — combined resourcesof $30,622,258 — under one management concentrated right here in Culver !

THE Culver CITIZEN PAGE 1 WEDNESDAY, July 6, 1960