A HISTORY OF THE FARMERS BANK OF FINCASTLE

and

THE BANK OF FINCASTLE

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BY ROBERT D STONER

Authorized by the Board of Directors of The Bank of Fincastle September 1975

Virginiaand all existing banks were forced out of business and records

indicate that none of the banks attempted to reorganized after the War

Royall also noted the slowness of the growth of the state banking system

after hostilities ended there being only fifty-two state banks in Virginia

in 1885 twenty years after the end of the war and they with total resources

of only about $1200000000

Of the fifty-two state banks operating in Virginia in 1885 was The Bank

of Pincastle organized ten years earlier which probably started its opera-

tions in the one-story brick building on Main Street between the present post

office and the Stoners Store building which was later known as the Haden

Law office This building should be on the Landmarks Commission list since

(1) it was occupied by Wm A Glasgow who was once an outstanding lawyer of

the United States recommended for the office of Attorney General and was

Pierre duPonts attorney when the three duPont brothers decided to divide the

duPont properties (2) that it was also occupied by BM Allen Clerk of the

Circuit Court and by BM Allen his descendant who was head of the English

Department of the University of Chicago and later became President of one of

the prominent eastern Universities and (3) it was later the office of

Benjamin fladen Jr Judge of the Nineteenth Judicial District of Virginia

This property was purchased by The Bank of Fincastle from BM Allen and W A Glasgow

and wife and conveyed to the bank by deed dated December 3 1875 and the bank

occupied that site until it moved into its present building

The present site of the Bank of Fincastle was conveyed to it by

C II Redman and wife by deed dated June 18 1906 and the building erected by

R A Figgat pursuant to his contract dated May 18 1908 at a cost of $437300

(2)

Virginiaand all existing banks were forced out of business and records

indicate that none of the banks attempted to reorganized after the War

Royall also noted the slowness of the growth of the state banking system

after hostilities ended there being only fifty-two state banks in Virginia

in 1885 twenty years after the end of the war and they with total resources

of only about $1200000000

Of the fifty-two state banks operating in Virginia in 1885 was The Bank

of Pincastle organized ten years earlier which probably started its opera-

tions in the one-story brick building on Main Street between the present post

office and the Stoners Store building which was later known as the Haden

Law office This building should be on the Landmarks Commission list since

(1) it was occupied by Wm A Glasgow who was once an outstanding lawyer of

the United States recommended for the office of Attorney General and was

Pierre duPonts attorney when the three duPont brothers decided to divide the

duPont properties (2) that it was also occupied by BM Allen Clerk of the

Circuit Court and by BM Allen his descendant who was head of the English

Department of the University of Chicago and later became President of one of

the prominent eastern Universities and (3) it was later the office of

Benjamin fladen Jr Judge of the Nineteenth Judicial District of Virginia

This property was purchased by The Bank of Fincastle from BM Allen and W A Glasgow

and wife and conveyed to the bank by deed dated December 3 1875 and the bank

occupied that site until it moved into its present building

The present site of the Bank of Fincastle was conveyed to it by

C II Redman and wife by deed dated June 18 1906 and the building erected by

R A Figgat pursuant to his contract dated May 18 1908 at a cost of $437300

(2)

The additions to and remodelings of this building have been done with an effort

to preserve its outside lines so far as possible while adding modern facilities

including a drive-in window

In 1969 the services of The Bank of Fincastle were enlarged by the

erection of a branch bank in Daleville

On September 20 1875 JHH Figgat and others petitioned the

Circuit Court of Botetourt County to obtain a charter in accordance with the

provisions of law to establish THE BANK OF FINCASTLE at Fincastle Virginia

a bank of discount and deposit and for carrying on the general banking business

On September 22 1875 the Honorable Henry E Blair Judge of the 14th Circuit

of Virginia granted the charter

THE CHARTER

OF

THE BANK OF FINCASTLE

The undersigned JHH Figgat WA Glasgow Thomas G Godwin Wm K McDowell BM Allen Louis Housman Jr George W Carper desiring to arrange a joint stock Company for the purpose hereinafter specified and to obtain therefore a charter of incorporation do in accordance with the provisions of the Act of the General Assembly of Virginia in such case made and provided make this certificate to the Circuit Court of Botetourt County

1st The name of the Company shall be The Bank of Fincastle and it is formed for the purpose of establishing at Fincastle in the County of Botetourt a Bank of Discount and Deposit and of carrying on a general Banking business and business of exchange but not to issue any bank note or bill of credit or to conduct the business of a bank of circulation

2nd The capital stock of said company shall not be less than ten nor more than two hundred thousand dollars to be subscribed in shares of one hundred dollars each and theoriginal subscribers to the stock of said company at the time of its organization and their successors shall be at liberty to reject or accept any subscription to said stock

3rd The said company may hold a lot in the Town of Fincastle on which their banking house shall be situtated and may acquire such other real estate as may be necessary for the protection of the interest of the company not exceeding one thousand acres at any one time

(3)

4th The principal office of said company shall be kept in the said Town of Fincastle and its chief business shall be transacted there

5th The subscribers JHH Figgat WA Glasgow Thomas G Godwin Win K McDowell Brown M Allen Louis Housman Jr and George W Carper of the Town of Fincastle County of Botetourt Virginia shall be directors of said company

6th At least five per centum of the stock subscribed by any person to the capital stock of said company shall be paid within thirty days after such subscription and the organization of the company shall be made and the residue at such time or times and in such amounts as the company shall by its by-laws provide We hereby respectfully apply to the Circuit Court of Botetourt County to grant us a charter of incorporation upon the above terms and for the purposes herein before specified

JHH FiggatThos G GodwinLouis Housman JrGeorge W Carper

WA Glasgow Wm K McDowell

BM Allen

Virginia Botetourt County to wit

I Thomas J Godwin a notary public in and for the county aforesaid hereby certify that JHH Figg at WA Glasgow Thomas G Godwin Wm K McDowell Louis Housman Jr BM Allen George W Carper whose names are subscribed to the above writing have severally signed and acknowledged the said writing before me in my county aforesaid

Given under my hand this 20th day of September 1875

Thos J Godwin NP

In vacation at Salem September 22nd 1875

The above certificate signed by JHH Figgat WA Glasgow Thomas G Godwin Wm K McDowell Louis Housman Jr BM Allen and George W Carper being this day presented to me It is therefore ordered that the said JHH Figgat WA Glasgow Thomas G Godwin Wm K McDowell Louis Housman Jr BM Allen and George W Carper together with such other persons as may hereafter be associated with them are hereby constituted a body politic and corporate by the name and style of The Bank of Fincastle upon the terms set forth in the above certificate

Henry E Blair

Clerks Office of Botetourt County Court September 24 1875

This certificate of JHH Figgat and made to the Circuit Court of this county for the incorporation of a Bank of Discounts and Deposit under the name and style of The Bank of Fincastle in the county of Botetourt Virginia together with the certificate of a notary public and the order of the Hon HE Blair Judge of the Fourteenth Judicial Circuit of Virginia incorporating and constituting the said JHH Figgat et als a body politic and corporate under the name and style of The Bank of Fincastle was this day presented

(4)

to me in said office and by me recorded in the Charter Book kept in said office all of which is certified to the Secretary of the Commonwealth for record

Teste B M Allen c

Certificate for Amendment to the Charter of The Bank of Fincastle

The Bank of Fincastle a corporation duly created by an order of the Circuit Court of the County of Botetourt entered on the twenty first day of August 1875 desiring to have its charter amended in the respects hereinafter set out executes this certificate as required by law through its president and under its corporate seal attested by its cashier who performs the duties appertaining to the office of Secretary and sets out

(1) That on the 13th day of September 1904 there was held in the Town of Fincastle Virginia after due notice to all of the directors a meeting of the Board of Directors of the said Bank at which meeting the Board of Directors passed a resolution declaring that it was advisable to amend the charter of this Bank so that its authorized maximum capital stock should be reduced from two hundred thousand dollars to twenty-five thousand dollars and to effect these purposes that the second section of the charter should be amend-ed so as to read as follows

The Capital Stock of said company shall not be less than ten nor more than twenty-five thousand dollars to be subscribed in shares of one hundred dollars each and the original subscribers to the stock of said company at the time of its organization and their successors shall be at liberty to reject or accept any subscription to said stock

And the said Board of Directors therefore ordered a meeting of the stockholders to be called on the 29th day of October 1904 according to law to take action upon the foregoing proposed amendment to the charter of the corporation

(2) That on the 29th day of October 1904 there was held at the banking house and office of the said Bank of Fincastle in the Town of Fincastle a meeting of its stockholders after ten days notice to all stockholders either served in person or by mailing the same as required by law and after publishing the same for four successive weeks in the Fincastle Herald a news-paper published in the place where its principal office is located such notice stating the time and place and object of the meeting That at the said meeting there was represented in person and by proxy over over two thirds of the stockholders of the said corporation having voting power That the foregoing resolution adopted by the Board of Directors proposing to amend Section two of the charter of this company in the manner hereinbefore set forth was in terms laid before the said stockholders meeting and adopted by a unanimous vote in favor thereof said vote being more than two-thirds of the entire stock of the corporation

(3) That the proceedings of the said meeting were duly entered on the minutes of the said meeting

Therefore this certificate is now signed by Turner McDowell President of The Bank of Fincastle aforesaid with its corporate seal thereto affixed attested by James Godwin its Cashier who performs the duties appertaining to the office of secretary at the Town of Fincastle in the County of Botetourt State of Virginia this 12th day of December 1904

Seal of Bankof Fincastle

Turner McDowell President

Attest James Godwin Cashier

State of Virginia County of Botetourt to-wit

I Cary Breckinridge a notary public for the County and State afore-said do certify that Turner McDowell President and James Godwin Cashier of The Bank of Fincastle Virginia whose names as such are signed to the foregoing writing bearing date on the 12th day of December 1904 have each acknowledged the same before me in my County aforesaid and being duly sworn the said Turner McDowell and James Godwin each declare that the statements in the foregoing certificate are true and correct

Given under my hand this 12th day of December 1904

Cary Breckinridge NP

My term of office expires September 28 1907

The Bank of Fincastle was duly organized with the petitioners

mentioned in the charter as directors of the corporation and JHH Figgat

was elected its President and Thomas G Godwin its cashier

During its one hundred years the bank has successfully weathered

several depressions panics and national financial adversities It has

increased its capital funds from $1000000 to $49445472 at the present

time and has during this time paid to its stockholders 177 dividends on its

common stock

The Bank of Fincastle has been designated and is a depository

for the State of Virginia the County of Botetourt and the Town of Fincastle

(6)

4th The principal office of said company shall be kept in the said Town of Fincastle and its chief business shall be transacted there

5th The subscribers JHH Figgat WA Glasgow Thomas G Godwin Win K McDowell Brown M Allen Louis Housman Jr and George W Carper of the Town of Fincastle County of Botetourt Virginia shall be directors of said company

6th At least five per centum of the stock subscribed by any person to the capital stock of said company shall be paid within thirty days after such subscription and the organization of the company shall be made and the residue at such time or times and in such amounts as the company shall by its by-laws provide We hereby respectfully apply to the Circuit Court of Botetourt County to grant us a charter of incorporation upon the above terms and for the purposes herein before specified

JHH FiggatThos G GodwinLouis Housman JrGeorge W Carper

WA Glasgow Wm K McDowell

BM Allen

Virginia Botetourt County to wit

I Thomas J Godwin a notary public in and for the county aforesaid hereby certify that JHH Figg at WA Glasgow Thomas G Godwin Wm K McDowell Louis Housman Jr BM Allen George W Carper whose names are subscribed to the above writing have severally signed and acknowledged the said writing before me in my county aforesaid

Given under my hand this 20th day of September 1875

Thos J Godwin NP

In vacation at Salem September 22nd 1875

The above certificate signed by JHH Figgat WA Glasgow Thomas G Godwin Wm K McDowell Louis Housman Jr BM Allen and George W Carper being this day presented to me It is therefore ordered that the said JHH Figgat WA Glasgow Thomas G Godwin Wm K McDowell Louis Housman Jr BM Allen and George W Carper together with such other persons as may hereafter be associated with them are hereby constituted a body politic and corporate by the name and style of The Bank of Fincastle upon the terms set forth in the above certificate

Henry E Blair

Clerks Office of Botetourt County Court September 24 1875

This certificate of JHH Figgat and made to the Circuit Court of this county for the incorporation of a Bank of Discounts and Deposit under the name and style of The Bank of Fincastle in the county of Botetourt Virginia together with the certificate of a notary public and the order of the Hon HE Blair Judge of the Fourteenth Judicial Circuit of Virginia incorporating and constituting the said JHH Figgat et als a body politic and corporate under the name and style of The Bank of Fincastle was this day presented

(4)

to me in said office and by me recorded in the Charter Book kept in said office all of which is certified to the Secretary of the Commonwealth for record

Teste B M Allen c

Certificate for Amendment to the Charter of The Bank of Fincastle

The Bank of Fincastle a corporation duly created by an order of the Circuit Court of the County of Botetourt entered on the twenty first day of August 1875 desiring to have its charter amended in the respects hereinafter set out executes this certificate as required by law through its president and under its corporate seal attested by its cashier who performs the duties appertaining to the office of Secretary and sets out

(1) That on the 13th day of September 1904 there was held in the Town of Fincastle Virginia after due notice to all of the directors a meeting of the Board of Directors of the said Bank at which meeting the Board of Directors passed a resolution declaring that it was advisable to amend the charter of this Bank so that its authorized maximum capital stock should be reduced from two hundred thousand dollars to twenty-five thousand dollars and to effect these purposes that the second section of the charter should be amend-ed so as to read as follows

The Capital Stock of said company shall not be less than ten nor more than twenty-five thousand dollars to be subscribed in shares of one hundred dollars each and the original subscribers to the stock of said company at the time of its organization and their successors shall be at liberty to reject or accept any subscription to said stock

And the said Board of Directors therefore ordered a meeting of the stockholders to be called on the 29th day of October 1904 according to law to take action upon the foregoing proposed amendment to the charter of the corporation

(2) That on the 29th day of October 1904 there was held at the banking house and office of the said Bank of Fincastle in the Town of Fincastle a meeting of its stockholders after ten days notice to all stockholders either served in person or by mailing the same as required by law and after publishing the same for four successive weeks in the Fincastle Herald a news-paper published in the place where its principal office is located such notice stating the time and place and object of the meeting That at the said meeting there was represented in person and by proxy over over two thirds of the stockholders of the said corporation having voting power That the foregoing resolution adopted by the Board of Directors proposing to amend Section two of the charter of this company in the manner hereinbefore set forth was in terms laid before the said stockholders meeting and adopted by a unanimous vote in favor thereof said vote being more than two-thirds of the entire stock of the corporation

(3) That the proceedings of the said meeting were duly entered on the minutes of the said meeting

Therefore this certificate is now signed by Turner McDowell President of The Bank of Fincastle aforesaid with its corporate seal thereto affixed attested by James Godwin its Cashier who performs the duties appertaining to the office of secretary at the Town of Fincastle in the County of Botetourt State of Virginia this 12th day of December 1904

Seal of Bankof Fincastle

Turner McDowell President

Attest James Godwin Cashier

State of Virginia County of Botetourt to-wit

I Cary Breckinridge a notary public for the County and State afore-said do certify that Turner McDowell President and James Godwin Cashier of The Bank of Fincastle Virginia whose names as such are signed to the foregoing writing bearing date on the 12th day of December 1904 have each acknowledged the same before me in my County aforesaid and being duly sworn the said Turner McDowell and James Godwin each declare that the statements in the foregoing certificate are true and correct

Given under my hand this 12th day of December 1904

Cary Breckinridge NP

My term of office expires September 28 1907

The Bank of Fincastle was duly organized with the petitioners

mentioned in the charter as directors of the corporation and JHH Figgat

was elected its President and Thomas G Godwin its cashier

During its one hundred years the bank has successfully weathered

several depressions panics and national financial adversities It has

increased its capital funds from $1000000 to $49445472 at the present

time and has during this time paid to its stockholders 177 dividends on its

common stock

The Bank of Fincastle has been designated and is a depository

for the State of Virginia the County of Botetourt and the Town of Fincastle

(6)

to me in said office and by me recorded in the Charter Book kept in said office all of which is certified to the Secretary of the Commonwealth for record

Teste B M Allen c

Certificate for Amendment to the Charter of The Bank of Fincastle

The Bank of Fincastle a corporation duly created by an order of the Circuit Court of the County of Botetourt entered on the twenty first day of August 1875 desiring to have its charter amended in the respects hereinafter set out executes this certificate as required by law through its president and under its corporate seal attested by its cashier who performs the duties appertaining to the office of Secretary and sets out

(1) That on the 13th day of September 1904 there was held in the Town of Fincastle Virginia after due notice to all of the directors a meeting of the Board of Directors of the said Bank at which meeting the Board of Directors passed a resolution declaring that it was advisable to amend the charter of this Bank so that its authorized maximum capital stock should be reduced from two hundred thousand dollars to twenty-five thousand dollars and to effect these purposes that the second section of the charter should be amend-ed so as to read as follows

The Capital Stock of said company shall not be less than ten nor more than twenty-five thousand dollars to be subscribed in shares of one hundred dollars each and the original subscribers to the stock of said company at the time of its organization and their successors shall be at liberty to reject or accept any subscription to said stock

And the said Board of Directors therefore ordered a meeting of the stockholders to be called on the 29th day of October 1904 according to law to take action upon the foregoing proposed amendment to the charter of the corporation

(2) That on the 29th day of October 1904 there was held at the banking house and office of the said Bank of Fincastle in the Town of Fincastle a meeting of its stockholders after ten days notice to all stockholders either served in person or by mailing the same as required by law and after publishing the same for four successive weeks in the Fincastle Herald a news-paper published in the place where its principal office is located such notice stating the time and place and object of the meeting That at the said meeting there was represented in person and by proxy over over two thirds of the stockholders of the said corporation having voting power That the foregoing resolution adopted by the Board of Directors proposing to amend Section two of the charter of this company in the manner hereinbefore set forth was in terms laid before the said stockholders meeting and adopted by a unanimous vote in favor thereof said vote being more than two-thirds of the entire stock of the corporation

(3) That the proceedings of the said meeting were duly entered on the minutes of the said meeting

Therefore this certificate is now signed by Turner McDowell President of The Bank of Fincastle aforesaid with its corporate seal thereto affixed attested by James Godwin its Cashier who performs the duties appertaining to the office of secretary at the Town of Fincastle in the County of Botetourt State of Virginia this 12th day of December 1904

Seal of Bankof Fincastle

Turner McDowell President

Attest James Godwin Cashier

State of Virginia County of Botetourt to-wit

I Cary Breckinridge a notary public for the County and State afore-said do certify that Turner McDowell President and James Godwin Cashier of The Bank of Fincastle Virginia whose names as such are signed to the foregoing writing bearing date on the 12th day of December 1904 have each acknowledged the same before me in my County aforesaid and being duly sworn the said Turner McDowell and James Godwin each declare that the statements in the foregoing certificate are true and correct

Given under my hand this 12th day of December 1904

Cary Breckinridge NP

My term of office expires September 28 1907

The Bank of Fincastle was duly organized with the petitioners

mentioned in the charter as directors of the corporation and JHH Figgat

was elected its President and Thomas G Godwin its cashier

During its one hundred years the bank has successfully weathered

several depressions panics and national financial adversities It has

increased its capital funds from $1000000 to $49445472 at the present

time and has during this time paid to its stockholders 177 dividends on its

common stock

The Bank of Fincastle has been designated and is a depository

for the State of Virginia the County of Botetourt and the Town of Fincastle

(6)

(3) That the proceedings of the said meeting were duly entered on the minutes of the said meeting

Therefore this certificate is now signed by Turner McDowell President of The Bank of Fincastle aforesaid with its corporate seal thereto affixed attested by James Godwin its Cashier who performs the duties appertaining to the office of secretary at the Town of Fincastle in the County of Botetourt State of Virginia this 12th day of December 1904

Seal of Bankof Fincastle

Turner McDowell President

Attest James Godwin Cashier

State of Virginia County of Botetourt to-wit

I Cary Breckinridge a notary public for the County and State afore-said do certify that Turner McDowell President and James Godwin Cashier of The Bank of Fincastle Virginia whose names as such are signed to the foregoing writing bearing date on the 12th day of December 1904 have each acknowledged the same before me in my County aforesaid and being duly sworn the said Turner McDowell and James Godwin each declare that the statements in the foregoing certificate are true and correct

Given under my hand this 12th day of December 1904

Cary Breckinridge NP

My term of office expires September 28 1907

The Bank of Fincastle was duly organized with the petitioners

mentioned in the charter as directors of the corporation and JHH Figgat

was elected its President and Thomas G Godwin its cashier

During its one hundred years the bank has successfully weathered

several depressions panics and national financial adversities It has

increased its capital funds from $1000000 to $49445472 at the present

time and has during this time paid to its stockholders 177 dividends on its

common stock

The Bank of Fincastle has been designated and is a depository

for the State of Virginia the County of Botetourt and the Town of Fincastle

(6)

It is a State bank having received its charter under the laws of the State of

Virginia and a member of the Federal Deposit Insurance Corporation which

insures every deposit in the bank up to and including $4000000 It is

under the supervision and regular examination of the Virginia State Banking

Department and the Federal Insurance Corporation At the present time the

bank has deposits of $609579200 and total resources of over $674412853

The officers and directors of the Bank of Fincastle from 1875 and

their terms of service are

Presidents JHH Figgat 1875-1897 Turner McDowell 1897-1939 EE Mayhew 1939-1949 FH Booze 1949-1950 RD Stoner 1950-1975 HM WilliamsonJr 1975-

Vice-Presidents (Office created 1913)

SB Smith 1913-1932 EE Mayhew 1932-1939 FH Booze 1939-1948 PA F ir ebaugh 1950-1965 RE Layman 1965-

Cashiers

Thomas G Godwin 1875-1885 James Godwin 1885-1920 RB Jarratt 1920-1934 CH Givins 1934-1944 RB Jarratt 1944-1945 AR Bolton 1945-1965 HM Williamson Jr 1965

Directors (1875-1975)

William K McDowell 1875-1880 BM Allen 1875-1882 Thomas A Godwin 1875-1885 GW Carper 1875-1886 WA Glasgow 1875-1893 JHH Figgat 1875-1897 Louis Housman Jr 1875-1899

Original Directors

(V)

Directors (continued)

MW Camper Thomas G Glasgow JN Slicer George Swann W A Glasgow Jr James Godwin TD Karrffelt Benjamin Haden EJ Brugh MS Gaboon CM Lunsford JF Gardner Turner McDowell RS Whitten WR Allen AT Howell SB Smith JD Hilton CM Firebaugh RB Jarratt JE Hannah FH Booze Sr EE Mayhew CH Givins SB Carter PA Firebaugh RD Stoner AR Bolton JW Austin CH Sprinkle RE Layman HM Williamson Jr GE Holt Jr C Ray Sprinkle WW Burch

1884 1884 1885 1886 1887 1887 1891 1891 1895 1895 1897 1898 1897 1899 1909 1909 1909 1914 1915 1917 1920 1923 1932 1936 1937 1939 1940 1945 1950-1962-1962-1965-1968-1972-1974-

1893 1885 1902 1893 1893 1920 1902 1893 1898 1920 1909 1913 1939 1908 unknown 1933 1931 1923 1917 1934 1944-1945 unknown 1950 1949 1944 1972 1965

1972 1967 1964

Mr Turner McDowell was President of The Bank of Fincastle from

1897 until his death faithfully serving for more than forty-two years - a

longer term of service in this capacity than any other person

The Board of Directors of The Bank of Fincastle announced after its

board meeting held on April 23 1975 the promotion of two be rk officials

Mr RD Stoner was elected Chairman of the Board and HM Williamson Jr

was promoted to President and Chief Executive Officer of the bank

(8)

Mr Stoner was elected to the Board of Directors of the bank on

January 11 1940 He was elected Vice-President on February 17 1949 and

named President on March 16 1950 a position he held until his present eleva-

tion to Chairman of the Board He has served a total of 35 years on the bank

board and twenty-five of those as President In addition he is widely known

for his historical literature contribution and is the author of Seed-Bed of

the Republic

Mr Williamson was elected to the Board of Directors on April 21

1965 He was employed as assistant cashier by the bank on September 1 1965

and promoted to cashier on January 1 1968 which position he held until his

appointment as President and Chief Executive Officer

The writer especially wishes to express his appreciation of the

patience of the building committee GE Holt Jr Robert E Layman and

HM Williamson Jr with him in his efforts to preserve the original appearance

of the outside of the bank building by minimizing the outer changes necessitated

by inside additions and alterations to comply with the necessity for modern

business improvements

My special thanks also to CH Givens for the use of his information

on the history of this bank as well as for his highly efficient services as

cashier during his ten year tenure as such

I am seventy-seven years old a native of Fincastle and for most of

my life the Bank of Fincastle WAS Mr Turner McDowell Mr SB Smith and

Mr RB Jarratt - Mr McDowell having served in his official capacity longer

than anyone else His many contacts by reason of being Clerk of Botetourt

County his knowledge of its citizens and their problems and their confidence

in him made him particularly valuable to the bank Mr Smith whose quiet

(9)

dignified manner concealed a deep interest in his fellow citizen (his diaries

included everything even births and deaths and were accepted as proof of

events which were not otherwise recorded) was active in behalf of the bank

and his interest and business acumen were also invaluable assets to the bank

Mr Jarratt was in the bank during the time when a dollar was worth

one hundred cents and when a national emergency caused the only closing of

the bank The writer was in the bank with him on that proud day when they

could tell the anxious citizens that while President Roosevelt had ordered

the closing of all banks the assets of the depositors of The Bank of Fincastle

were safe and would be available when the national moratorium was lifted

Mr Jarratts ability as a banker was demonstrated in this bank and in other

much larger banks which have profited by his services All three were capable

honorable industrious and gave selflessly of their time and talents to the

bank and their unquestionable integrity justified the confidence of their

clients and the resulting promotion of the interests of the bank

No history of the Bank of Fincastle would be complete without

mentioning the services of AR Bolton who was cashier for twenty years and

JW Austin who was a very active and valuable director for seventeen years -

both of whom rendered outstanding service to the bank as did EE Mayhew

who was President of the bank for seven years and FH Booze who served in

that capacity only one year before his removal by death and last but not

least H-M Williamson whose continuing services are of great value to the

bank and its customers

While the Daleville Branch of the Bank of Fincastle has been in exist-

ence only a few years the officers of the parent organization have been ably

assisted by the knowledge and advice of Vice-President Robert E Layman who

is a citizen of the Daleville area and we wish to express our thanks to him

(10)

as well as to the ladies of Historic Fincastle who freely gave their time

and talents in the inside decoration of the bank They were Mrs Eleanor

McDowell Mrs Phyllis A Burch Mrs Dorothy Layman Mrs Hellen C Caldwell

Mrs Dorothy C Blanton and Mrs June Rutherfoord

The writer can not close this short history without adding his

personal thanks in addition to that of the Bank to Stuart B Carter legal

counselor during most of his term as President of the Bank not only for his

legal advice but for his business acumen upon which he heavily leaned always

and to Mrs B M Allen who has rendered valuable aid in this short writing

as in past undertaking

(ID

THE BANK OP FINCASTLE

OFFICERS RD Stoner Chairman of the Board of Directors HM Williamson dr President and Executive Officer R E Layman Vice-President Helen S CroniseAssistant Cashier John W Crowder Assistant Cashier

DIRECTORS RD Stoner HM Williamson RE Layman GE Holt Jr C Ray Sprinkle WW Burch

EMPLOYEES Jean R Craft Head Bookkeeper Judith C Barnett Teller Nancy Milliron Teller Martha Caldwell Bookkeeper Corrine G Wood Bookkeeper Gail B Guffey Teller

Mr Stoner was elected to the Board of Directors of the bank on

January 11 1940 He was elected Vice-President on February 17 1949 and

named President on March 16 1950 a position he held until his present eleva-

tion to Chairman of the Board He has served a total of 35 years on the bank

board and twenty-five of those as President In addition he is widely known

for his historical literature contribution and is the author of Seed-Bed of

the Republic

Mr Williamson was elected to the Board of Directors on April 21

1965 He was employed as assistant cashier by the bank on September 1 1965

and promoted to cashier on January 1 1968 which position he held until his

appointment as President and Chief Executive Officer

The writer especially wishes to express his appreciation of the

patience of the building committee GE Holt Jr Robert E Layman and

HM Williamson Jr with him in his efforts to preserve the original appearance

of the outside of the bank building by minimizing the outer changes necessitated

by inside additions and alterations to comply with the necessity for modern

business improvements

My special thanks also to CH Givens for the use of his information

on the history of this bank as well as for his highly efficient services as

cashier during his ten year tenure as such

I am seventy-seven years old a native of Fincastle and for most of

my life the Bank of Fincastle WAS Mr Turner McDowell Mr SB Smith and

Mr RB Jarratt - Mr McDowell having served in his official capacity longer

than anyone else His many contacts by reason of being Clerk of Botetourt

County his knowledge of its citizens and their problems and their confidence

in him made him particularly valuable to the bank Mr Smith whose quiet

(9)

dignified manner concealed a deep interest in his fellow citizen (his diaries

included everything even births and deaths and were accepted as proof of

events which were not otherwise recorded) was active in behalf of the bank

and his interest and business acumen were also invaluable assets to the bank

Mr Jarratt was in the bank during the time when a dollar was worth

one hundred cents and when a national emergency caused the only closing of

the bank The writer was in the bank with him on that proud day when they

could tell the anxious citizens that while President Roosevelt had ordered

the closing of all banks the assets of the depositors of The Bank of Fincastle

were safe and would be available when the national moratorium was lifted

Mr Jarratts ability as a banker was demonstrated in this bank and in other

much larger banks which have profited by his services All three were capable

honorable industrious and gave selflessly of their time and talents to the

bank and their unquestionable integrity justified the confidence of their

clients and the resulting promotion of the interests of the bank

No history of the Bank of Fincastle would be complete without

mentioning the services of AR Bolton who was cashier for twenty years and

JW Austin who was a very active and valuable director for seventeen years -

both of whom rendered outstanding service to the bank as did EE Mayhew

who was President of the bank for seven years and FH Booze who served in

that capacity only one year before his removal by death and last but not

least H-M Williamson whose continuing services are of great value to the

bank and its customers

While the Daleville Branch of the Bank of Fincastle has been in exist-

ence only a few years the officers of the parent organization have been ably

assisted by the knowledge and advice of Vice-President Robert E Layman who

is a citizen of the Daleville area and we wish to express our thanks to him

(10)

as well as to the ladies of Historic Fincastle who freely gave their time

and talents in the inside decoration of the bank They were Mrs Eleanor

McDowell Mrs Phyllis A Burch Mrs Dorothy Layman Mrs Hellen C Caldwell

Mrs Dorothy C Blanton and Mrs June Rutherfoord

The writer can not close this short history without adding his

personal thanks in addition to that of the Bank to Stuart B Carter legal

counselor during most of his term as President of the Bank not only for his

legal advice but for his business acumen upon which he heavily leaned always

and to Mrs B M Allen who has rendered valuable aid in this short writing

as in past undertaking

(ID

THE BANK OP FINCASTLE

OFFICERS RD Stoner Chairman of the Board of Directors HM Williamson dr President and Executive Officer R E Layman Vice-President Helen S CroniseAssistant Cashier John W Crowder Assistant Cashier

DIRECTORS RD Stoner HM Williamson RE Layman GE Holt Jr C Ray Sprinkle WW Burch

EMPLOYEES Jean R Craft Head Bookkeeper Judith C Barnett Teller Nancy Milliron Teller Martha Caldwell Bookkeeper Corrine G Wood Bookkeeper Gail B Guffey Teller

dignified manner concealed a deep interest in his fellow citizen (his diaries

included everything even births and deaths and were accepted as proof of

events which were not otherwise recorded) was active in behalf of the bank

and his interest and business acumen were also invaluable assets to the bank

Mr Jarratt was in the bank during the time when a dollar was worth

one hundred cents and when a national emergency caused the only closing of

the bank The writer was in the bank with him on that proud day when they

could tell the anxious citizens that while President Roosevelt had ordered

the closing of all banks the assets of the depositors of The Bank of Fincastle

were safe and would be available when the national moratorium was lifted

Mr Jarratts ability as a banker was demonstrated in this bank and in other

much larger banks which have profited by his services All three were capable

honorable industrious and gave selflessly of their time and talents to the

bank and their unquestionable integrity justified the confidence of their

clients and the resulting promotion of the interests of the bank

No history of the Bank of Fincastle would be complete without

mentioning the services of AR Bolton who was cashier for twenty years and

JW Austin who was a very active and valuable director for seventeen years -

both of whom rendered outstanding service to the bank as did EE Mayhew

who was President of the bank for seven years and FH Booze who served in

that capacity only one year before his removal by death and last but not

least H-M Williamson whose continuing services are of great value to the

bank and its customers

While the Daleville Branch of the Bank of Fincastle has been in exist-

ence only a few years the officers of the parent organization have been ably

assisted by the knowledge and advice of Vice-President Robert E Layman who

is a citizen of the Daleville area and we wish to express our thanks to him

(10)

as well as to the ladies of Historic Fincastle who freely gave their time

and talents in the inside decoration of the bank They were Mrs Eleanor

McDowell Mrs Phyllis A Burch Mrs Dorothy Layman Mrs Hellen C Caldwell

Mrs Dorothy C Blanton and Mrs June Rutherfoord

The writer can not close this short history without adding his

personal thanks in addition to that of the Bank to Stuart B Carter legal

counselor during most of his term as President of the Bank not only for his

legal advice but for his business acumen upon which he heavily leaned always

and to Mrs B M Allen who has rendered valuable aid in this short writing

as in past undertaking

(ID

THE BANK OP FINCASTLE

OFFICERS RD Stoner Chairman of the Board of Directors HM Williamson dr President and Executive Officer R E Layman Vice-President Helen S CroniseAssistant Cashier John W Crowder Assistant Cashier

DIRECTORS RD Stoner HM Williamson RE Layman GE Holt Jr C Ray Sprinkle WW Burch

EMPLOYEES Jean R Craft Head Bookkeeper Judith C Barnett Teller Nancy Milliron Teller Martha Caldwell Bookkeeper Corrine G Wood Bookkeeper Gail B Guffey Teller

as well as to the ladies of Historic Fincastle who freely gave their time

and talents in the inside decoration of the bank They were Mrs Eleanor

McDowell Mrs Phyllis A Burch Mrs Dorothy Layman Mrs Hellen C Caldwell

Mrs Dorothy C Blanton and Mrs June Rutherfoord

The writer can not close this short history without adding his

personal thanks in addition to that of the Bank to Stuart B Carter legal

counselor during most of his term as President of the Bank not only for his

legal advice but for his business acumen upon which he heavily leaned always

and to Mrs B M Allen who has rendered valuable aid in this short writing

as in past undertaking

(ID

THE BANK OP FINCASTLE

OFFICERS RD Stoner Chairman of the Board of Directors HM Williamson dr President and Executive Officer R E Layman Vice-President Helen S CroniseAssistant Cashier John W Crowder Assistant Cashier

DIRECTORS RD Stoner HM Williamson RE Layman GE Holt Jr C Ray Sprinkle WW Burch

EMPLOYEES Jean R Craft Head Bookkeeper Judith C Barnett Teller Nancy Milliron Teller Martha Caldwell Bookkeeper Corrine G Wood Bookkeeper Gail B Guffey Teller

THE BANK OP FINCASTLE

OFFICERS RD Stoner Chairman of the Board of Directors HM Williamson dr President and Executive Officer R E Layman Vice-President Helen S CroniseAssistant Cashier John W Crowder Assistant Cashier

DIRECTORS RD Stoner HM Williamson RE Layman GE Holt Jr C Ray Sprinkle WW Burch

EMPLOYEES Jean R Craft Head Bookkeeper Judith C Barnett Teller Nancy Milliron Teller Martha Caldwell Bookkeeper Corrine G Wood Bookkeeper Gail B Guffey Teller