State Exchange and Farmers State Bank Resources Exceed $50 Million - 1967  

Bank Resources Exceed $50 Million

State Exchange and Farmers State Bank Resources Exceed $50 Million

For the first time in history total resources of the State Exchange Bank

and farmers State Bank, Lapaz, now exceed $50,000,000.00 I was reported today by W. O. osborn, President of both insitutions. Total resources of The State Exchange Bank as of December 31, 1966, were $38,358,504.42, and of the Farmers State Bank. LaPaz. were $11,806,353.5 5.

Deposits of The State Exchange Bank increased from $32,988,092.00, to $35,213,247.00 during 1966, with loans increasing from $18,047,942.00, to $22,295,148.00. Farmers State Bank deposits increased during the game period from $10,618,565.00, to $11,119,698.00, and loans from $4,454,895.00, to $5,015, _33.00.

Mr. Oshorn reported that the State Exchange Finance Company, an affiliate of The State Exchange Bank, now shows total resources of $12,13S.969.00.as compared with totals of one year ago of $11,011,490.00.

"We shall endeavor to continue to serve Marshall County and surrounding communities to the best of our abilities bearing in mind that it is our depositors and borrowers who are responsible for whatever measure of success we enjoy", Mr. W. O. Osborn stated.

The State Exchange Bank now has offices at Culver , Argos and 270 North Michigan Street, Plymouth, Indiana.

THE Culver CITIZEN PAGE 1 THURSDAY, JANUARY 12, 1967