State Exchange Banks Continue Amazing Growth 1962  

State Exchange Banks Continue Amazing Growth Argos Bank Now Being Remodeled The Statements of The State Exchange Bank, of Culver and Argos, Ind., and the Farmer State Bank, LaPaz, Ind., are shown elsewhere in this issue which reveal the fact that these two banks, with one branch a Argos, have had an increase to more than $2,500,000 over a year ago, in deposits T h e Statements also reveal the fact that The State E x c h a n g Bank, of Culver and, Argos, had increased the Surplus Account $50,00 over a year ago, which makes the Capital and Surplus Accounts of The State Exchange Bank $1,400,000, in addition to the Undivided Profit Account and the Farmers State Bank, LaPaz, has increased it Surplus Account $50,000, making the total Capital and Surplus Account $500,000, in addition iits Profit and Loss Account. The officers of these banks report that they are making substantial improvements in theie banking quarters at Argos, which will enlarge the lobby of that bank, in addition to which the basement is being built to accommodate the different social and civic organizations of the community and to make it possibte to take care of larger crowds that might have reasons to assemble at the Argos bank from time tiime. I n addition to the enlarging of the banking quarters, there is to be a modern, drive-in window in stalled and a new parking lot to be constructed immediataely west of the bank, not only forthe use of the customers of thebank, but for the entire community. The new building, that is face on Michigan Street, is to be made of Bedford stone, in keeping with the present Argos bank building. Mr. Boswell, who is the Vice President of these banks, is also the Manager and an Officer of The State Exchange Finance Com pany. He reports that the first six months business of this year has been the best in the history of this company. Mr. Osborn, the President, reports that the combined resources as of June 30, 1962 , of the two banks, with one branch, and the State Exchange Finance Company now exceeds $ 40, 000, 000. The Officers and Directors of these two banks, with one branch and the finance company, feel deeply obligated to their many customers and would like to take this opportunity of thanking everyone who has transacts business with them. THE Culver CITIZEN PAGE 1 WEDNESDAY, July 4, 1962