Farmer's Bank in Montpelier, St. Helena Parish, Louisiana File submitted by Mrs. Inez Bridges Tate and prepared by D.N. Pardue ************************************************ Copyright. All rights reserved. http://usgwarchives.net/copyright.htm http://usgwarchives.net/la/lafiles.htm ************************************************ From publication "Old Montpelier, 1804, New Montpelier, 1904" compiled by Inez B. Tate and published by St. Helena Historical Association, 1993. Reprinted with permission. The Farmer's Bank was an important part of Montpelier. Chartered on the 19th March 1907 as Farmers' Bank in the town of Freiler, Greensburg Post Office, it had capital stock of $15,000 divided into 150 shares with par value of one hundred dollars each. The names and places of residence of the share holders and the number of shares held by each of them are as follows: J.B. Dean Greensburg, La. 5 J.D. Easley Greensburg, La. 3 A.J. Rohner Jack, La. 5 G.W. Rohner Jack, La. 5 A.P. McGehee Jack, La. 1 O.L. Collins, M.D. Chipola, La. 5 W.H. Venable Liverpool, La. 2 B.W. Newsom Liverpool, La. 1 C.J. Yarboough Liverpool, La. 5 A.J. Frazier Lookout, La. 3 Thomas R. Cole Greensburg, La. 3 W.A. Tidwell Greensburg, La. 5 W.P. Matthews Darlington, La. 1 W.C. Kent Kentwood, La. 10 John Freiler Greensburg, La. 5 J.H. Womack Greensburg, La. 1 Geo. W. Wales Tinus, La. 5 C.J. Breeden Liverpool, La. 5 A.F. Naul Greensburg, La. 2 F.A. Naul Greensburg, La. 2 J.F. Naul Greensburg, La. 2 W.M. Naul Greensburg, La. 2 M.E. Naul Greensburg, La. 2 M.C. Naul Greensburg, La. 2 W.M. Nettles Lookout, La. 22 W.G. Hamberlin Greensburg, La. 5 N.T. Bridges Liverpool, La. 5 Robt. E. Cole Greensburg, La. 1 Amos K. Freiler Greensburg, La. 5 L.M. Pipkin Darlington, La. 2 R.E. Womack Greensburg, La. 2 Albin Collins Greensburg, La. 1 R.M. Collins, Agent Greensburg, La. 1 R.L. Taylor Kentwood, La. 1 J.T. Strickland Tinus, La. 1 J.M. Nettles, Jr. Darlington, La. 2 T.J. Cole Greensburg, La. 3 R.W. Sessions Greensburg, La. 4 M.D. Venable Greensburg, La. 2 R.D. Wilson Montpelier, La. 2 M.L. Naul Greensburg, La. 2 E.B. Watson Greensburg, La. 2 H.B. Newson Liverpool, La. 2 The Farmers' Bank was opened for business on June 4, 1907, with capital stock of $15,000. The first Statement of Condition issued 31 Dec. 1907 shows officers: M.L. Naul, President; W.M. Nettles, Vice-President; J.D. Easley, Cashier. Directors: M.L. Naul, J.D. Easley, W.M. Nettles, G.W. Rohner, W.A. Tidwell, John Freiler, W.G. Hamberlin, C.J. Yarborough and R.E. Womack. Statement of Condition issued 31 Dec. 1914 carries this note: "The bank was located at Greensburg prior to June 27, 1914, when it moved to Montpelier." Officers: M.L. Naul, President; C.E. Tillery, Vice-President; J.D. Easley, Cashier. Directors: M.L. Naul, T.R. Cole, A.J. Newman, J.H. Morgan, L.C. Hayden, C.E. Tillery, R.A. Guy, H.W. Lindsey and J.D. Easley. -------------- STATE OF LOUISIANA, STATE BANKING DEPT. NEW ORLEANS, LA. REPORT OF EXAMINATION OF FARMERS' BANK, MONTPELIER, LA. AS OF September 15, 1928 J.S. BROOK, STATE BANK COMMISSION Directors: J.H. Morgan Montpelier Merchant 25 shares S.F. Morgan Montpelier Merchant 25 " C.E. Tillery Tangipahoa Merchant 7 " P.C. Tillery Montpelier Merchant 7 " F.P. Powers Grangeville Merchant 10 " J.D. Easley Montpelier Banker 8 " H.W. Lindsey Greensburg Farmer 4 " R.A. Guy Greensburg Farmer 4 " H.S. Watson Montpelier Clerk 5 " Officers and Employees: E.E. Morgan Cashier Salary - $1,000 J.D. Easley President Salary - $3,000 Total Assets - $84,631.69 --------------- STATE OF LOUISIANA, STATE BANKING DEPT., NEW ORLEANS, LA. REPORT OF EXAMINATION OF FARMERS' BANK, MONTPELIER, LA. AS OF June 17, 1930 J.S. BROOK, STATE BANK COMMISSION TOTAL ASSETS $85,347.24 Loans & discounts $61,547.61 Overdrafts 524.93 Salaries & other expenses 1,536.01 Furniture & fixtures 2,537.64 Other real estate owned 5,167.74 Other checks & cash items 13.96 Checks for clearing house 303.17 Cash on hand 1,060.01 Due from other banks 12,656.17 TOTAL LIABILITIES $85,347.24 Capital Stock paid in $15,000.00 Surplus fund 5,100.00 Undivided profits 708.39 Interest & discount 2,261.10 Individual deposits subject to check 36,208.41 Cashier's checks outstanding 45.75 Time certificates of deposit 26,023.59 DIRECTORS J.H. Morgan Montpelier Merchant 25 shares S.F. Morgan Montpelier Merchant 25 " C.E. Tillery Tangipahoa Merchant 10 " P.E. Tillery Montpelier Merchant 4 " F.P. Powers Georgeville Merchant 10 " J.D. Easley Montpelier Banker 18 " H.W. Lindsey Greensburg Farmer 4 " E.E. Morgan Montpelier Cashier 10 " H.S. Watson Montpelier Clerk 5 " OFFICERS & EMPLOYEES J.D. Easley President 25 years of service Salary - $30.00 E.E. Morgan Cashier 5 years of service Salary - 100.00 A lot of overdrafts prompts this notation from examiner - "Entirely too many overdrafts. The evil should be eliminated..." --------------- An interesting report from the State Bank Commissioner's Department: "Of the 117 State banks in Louisiana on December 31, 1937, all were members of the Federal Deposit Insurance Corporation except two: "Farmers' Bank, Montpelier, Louisiana and Bank of Oak Ridge." " Last Statement of Condition was issued 31 December 1937, officers were: J.H. Morgan, President; J.D. Easley, Vice- President and E.E. Morgan, Cashier. General remarks from the State Bank Commissioner: "The Farmers' Bank, Montpelier, was placed in liquidation on January 19, 1938, and its affairs are being liquidated by the State Banking Department." Personal comments regarding the Bank from lon-time resi- dents of Montpelier: H.E. "Pet" Watson: "All of the depositors were paid in full when the Bank closed. The stockholders lost their invest- ment. Papa owned some stock." Sam Morgan, Jr.: "None of the depositors lost a dime. This was unheard of and rarely done when a bank closed." Edward Tate remembers: "Mr. Jeff Easley challenged the young students who walked past the bank enroute to school. He would give them a column of figures to add and if they brought the correct answer the following day, he would reward them with a silver dime. What riches." The bank was housed in a small building on Bookter Ave. The vault that was in Farmers' Bank is now in the possession of W.B. King.