The State Exchange Bank Continues Amazing Growth - 1964  

The State Exchange Bank Continues Amazing Growth

Combined Resources Of Culver , Argos And LaPaz Banks Exceed $36 Million

The Officers of The State Exchange Bank, of Culver and Argos, Indiana, and the Farmers State Bank, of LaPaz, Indiana, report that the first six months of their 1964 business exceeds any other corresponding period.

The report as shown elsewhere in this paper shows that the total combined resources of the two banks as of June 30, 1964, amount to $36,578,133.00 which is in excess of $2,500,000.00 more than the total resources for the corresponding period of a year ago.

The management reports that they have had an excellent demand for loans.

The management was pleased with the outcome of their business for the first six months of this year and feel that the additional interest paid out for the same period has been offset with the advanced interest rate andthe extra volume of loans carried.

The total invested capital as of June 30, 1964, was nearly $2,300,000.00 in the two banks. I t was pointed out by the management that their total deposits as of June 30, 1964, amounted to approximately $34,000,000.00, as against which they were carrying $19,000,000.00 of loans in the banks.

The management pointed out that the midyear statement is always less than the year end statement of these banks.

The management also reported that the first six months business in the State Exchange Finance Company exceeded any other corresponding period.

It was the opinion of the management that the year of 1964 would be a banner year.

The Officers, Directors, and employees take this opportunity of thanking the public for their continued confidence in these institutions.

THE Culver CITIZEN PAGE 1 WEDNESDAY, July 8, 1964