The charter of the Marceline State Bank was issued December 23, 1907, by Hon. John E. Swanger, Secretary of State of Missouri. The capital stock was $20,000.
A building was erected and opened for business at 107 North Kansas Avenue, where Reece’s confectionery was located. In May 1909, the present building was purchased. The new bank front and improvements of the Howell Street side wall were made in 1930-31.
The original shareholders and temporary directors were W. C. Hume and five men who were non-residents. W. C. Hume was the first cashier and served until 1913.
J. A. Neal served as cashier from 1913 to 1928 except the years 1917-18. In January 1917, a large interest was purchased by Dan Wester of Kansas City and he was elected cashier. In January, 1919, the Wester interest was purchased by J. A. Hamler and associates, and Mr. Hamler was elected president.
On April 27, 1922, the interest of J. A. Hamler was purchased by H. E. Trader and associates, and Mr. Trader was elected president, a position he held until his death in November, 1960.
In October 1938, E. B. Moorman, replacing J. A. Neal, came to the bank after completing a course at the Gem City Business College. Through the years Mr. Moorman served as Assistant Cashier, Cashier and Vice-President. In November 1960, Mr. Moorman purchased controlling interest from the estate of H. E. Trader, was elected President, and still holds that position.
The present board of directors are E. B. Moorman, Agnes B. Trader, George R. Lohmar, Dorothy H. Moorman, and Alys M. Culler.
The bank is well appointed, occupying a modern building at the corner of Howell and Kansas Avenues. The interior of the building was thoroughly remodeled and completed in 1961. The interior is handsomely furnished and artistically decorated with walnut paneling, terrazzo floor, acoustical ceiling with indirect lighting and is equipped with the most modern fixtures and equipment.
The Marceline Trust Company began business in 1920. In May 1924, its business was taken over by the Marceline State Bank and the First National Bank, each bank purchasing one-half of the assets and assuming one-half of the deposits. Its depositors were thus paid in full.
In the dark days of November 1931, the bank’s remaining contemporary was closed. An immediate organization movement of business men and citizens, and the fine cooperation of the State Bank’s city correspondents enabled the bank to withstand the shock without trouble. Instead of having a “run” as occurred in many similar cases, the bank made a good gain in deposits in three days’ time, and continued gaining.
At the close of the ten-day National Banking Holiday, ordered by the President of the United States in March 1933, the bank was permitted to open for business without restrictions. Since then its business has grown steadily.
The bank now has total deposits $3,008,000.