F. Conrad Taylor, President
The Marion Bank and Trust Company was chartered March
15, 1934 and opened for business on the seventeenth day of the same
month. The original capital stock of the bank was composed of 500
shares at a par value of $50.00. This stock was sold for $60.00
per share, providing a capital of $25,000 and a surplus of $5,000.
Thirty-five original stock holders subscribed for this stock.
Marion Bank and Trust Company had another successful
year in 2006 with a net income of $1,359,834.59. Even due to
increased expnses, dividends paid per share in 2006 were $5.25, the same
as paid in 2005. The book value of Marion Bancshares, Inc. stock
increased from $129.06 to $133.89 at year-end 2006. Their
capital ratio is in the top 15% of their peer banks.
Marion Bank and Trust Company officers are E.R.
Richardson, Jr., Chairman of the Board; F. Conrad Taylor,
President; Will H. Stewart, Vice President/Cashier; B. Wayne
Middlebrooks, Vice President; Preston L. Nichols, Assistant Vice
President. The banks correspondents are AmSouth Bank, Alabama
Banker's Bank, and the Federal Home Loan Bank of Atlanta.
The Board of Directors has voted to open a branch bank
in Selma, Alabama and has already received regulatory approval to
proceed with their branching plans. Marion Bank and
Trust is in hopes of having the branch ready to open in late 2007
or early 2008. The Board of Directors feels that the Selma area
offers them significant growth opportunities.
The history of Marion Bank and Trust Company reflects
its steady growth.
"We know our future growth depends on
customers and friends who
have entrusted their business
to us. We will continue our efforts to be
of
service to the people of this
area."
Marion Bank and Trust Company
601 S. Washington Street
Marion, Alabama 36756
334-683-6131
www.marion-bank.com
