The Stlate Exchange Bank Ends Best Year In Its History - 1965  

The State Exchange Bank Ends Best Year In Its History

Combined Resources Of Culver , Argos And LaPaz Banks Exceed $41 Million

Attention is called to the combined statement of The State Exchange Bank, of Culver and Argos, and the Farmers State Bank, of LaPaz, shown elsewhere in this paper.

In comparing this statement with the combined statement of these Banks as of a year ago, it develops that their combined resources as of December 31, 1964, were $41,598,974.30, which is a little more than $4,4.50,000.00 over a year ago.

It is also interesting to note that the combined capital of these two Banks is nearly $2,300,000. In talking with the officials of the Bank, the Editor has learned t h a t these two Banks have more than 24,000 accounts, including checking and savings accounts.

In talking with the officials of the Bank, we were also informed that their affiliated company. State Exchange Finance Company, had increased its resources over a year ago from a little over $7,000,000.00 to over $10,000,000.00, which shows that this company has had an increase of over $3,000,000.00 in the p a s t 12 months.

In considering the combined statement of The State Exchange Bank, of Culver and Argos, and the Farmers State Bank, of LaPaz, w i t h the State Exchange Finance Company, it shows that the total resources of all these Companies as of December 31, 1964, were a littl e over $51,000,000.00.

The Officers and Directors of the Bank are highly pleased with the res ults of the business for 1964, not only including the volume of business, but the earnings of the three institutions.

Mr. W. O. Osborn reported that the statement of the two banks, found elsewhere in this paper, is by far the largest statement that the banks have ever published, and in his opinion, business for 1965 should be as good as 1964.

I t was pointed out t h a t the business of these Banks has extended out farther and they have gained more new customers d u r i n g the year 1964 than in any other corresponding period.

The Officers and Directors of the Bank feel greatly obligated, not only to their employees, but to all their customers for making it possible for them to enjoy the most successful year in the history of the Banks.

THE Culver CITIZEN PAGE 1 THURSDAY, JANUARY 7, 1965