In 1907 three members of the Jones family organized a private bank in the Milford community.
From 1907-1920 the financial institution remained a private enterprise. During those years the Jones family - E.S., A.M., and Priscilla - remained at the helm. In 1920, the bank incorporated and got its state charter.
Since that year, the bank has remained a state bank. The Jones family continued to head up the bank until Priscilla died in 1939. After her death, I.M. "Ike" Goldstein became President and Warren Davis, who had been working at the bank since 1911, became executive Vice President and cashier.
When Davis retired in 1955, Glen C. Hodges, Springfield, became the bank's president. During the bank's 50th anniversary, Davis remarked that the bank's slogan, "The Bank of Stability and Progress", had been adopted in 1911. Davis said that the year the bank was founded the capital and surplus was $25,000.
Hodges sold controlling interest in the bank to Dean Quinn in 1962. After Quinn's death in 1968 his bank stock was sold in 1969 to Arthur R. Murray, who continues as our President.
Our current bank building was built in 1966 at the corner of Jones and Axtel, the property previously occupied by the Meyers General Store. A significant edition in 1980's provided added space for bookeeping, data processing, a walk up window and our second and third drive up windows.