The State Exchange Bank Ends Most successful Year 1963  

Resources up $2,300,000 over 1961 The Directors of T h e State Exchange Bank, of Culver and ArgodS, and Fanners State Bank of LaPaz, are happy to announce that the year 1962 was the best year these institutions have ever had. The statement of these banks, as shown elsewhere in the paper, will show that the totals as of december 31, 1962, were $35,628,941.82. which is over $2,300,000 more for the same period a year ago. The usual dididend has been declared and paind in addition to which the undivided profits accounty has been increased so that the total capital sturcture of these banks now amount more than $2,000,000.00 which is much larger than the capital accounty of many banks in towns much larger that the towns in which these banks are located. Every effort is being made to improve the services of these banks and to look after the financial needs pf everyone living within their trading area. the president, W. O. Osborn, reported that the directors of the bank feel deeply obligated not only to the loyality of the many customers, but the continued loyalty of all the employees. Mr. Osborn reported that the Profit Sharing and Insurance Plan which the bank established severl years ago has proven to be a great success and is apprciated by all those who are permitted to participate in the same. The management further stated that the help which the State Exchange finance comnpany gives has proven to be a great success and takes care of many problems which a bank would not be permitted under the law to take care of themselves, and as a res ult this institution now has over $7,000,000.00 asssets. Argos Bank Remodeled The report which will be made at the Annual Stocholder's meeting will show that the bank at Argos is being enlarged, remodeled and improved, so that the bank building at Argos will be in keeping with the two other banks operated. The lobby of the bank at Argos will be more than double in size, in addition to which an Assembly roon is being built in the basement and several new offices are to be installed on the main floor of the building. The building is also to be air-conditioned throughout in addition to which a new parking lot has been installed, and they are now in the process of installing a modern, up to date drive-in window. THE Culver CITIZEN PAGE 1 Wednesday January 9, 1963