First Community Bank Milton

Description

First Community Bank was originally founded under the name of the Farmers Bank. It opened its doors for business on July 17, 1911 with capital of $25,000 and had assets of $109,853.03 by December 1911. The original officers of the Farmers Bank were John A Paul, President, John H. Owen, Vice-President and Alexander M. Paul, Cashier. Directors of the bank were John A. Paul, Alexander M. Paul, John H. Owen, S.C Chambers, August Lalk, and Wesley Winch.The Farmers Bank made it through the rough and tumbling times of the depression of the 1930’s, falling security values and low farm prices. Due to the bank's successful management, the bank continued to grow and prosper. In September 1931, an armed holdup occurred. Four experienced criminals kept John Paul and his three children, John Jr., Janet and Malcolm, captive in their home until the following morning. The robbers then forced Malcolm to go to the bank and open the vault door. They got away with $4,000 butanniversary on May 6, 1961, the Farmers Bank held deposits of more than $3,250,000. The drive-up, originally located in the rear of the building, the walk up windows and the safe deposit vault were added during the 1969-1970 remodeling. The bank purchased the adjoining building to create more office space and nearly doubled in office size. In May 1982 the drive-up window was moved to the north side of the bank.

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