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The growth and develop ment of Farmington is re flected in the report of the First National Bank this week, which now becomes a four million dollar institution. With total resources re ported of $4,190,106.09,7 in cluding deposits of $3952, 592.89, the First National climbs into the four million dollar bracket. President Hu f the bank, who has been a guiding influence in the institution for the past 35 years, points out that possibly this year patrons will start using part of.their de posits for goods, homes and busi ness ventures, as such become available in the post war period. This naturally will be reflected in decreased bank deposits. But of course it will be resolved into further community building and betterment of living conditions, and so Farmington stands to gain even if the bank deposits are de creased. The First National Bank, or ganized in 1902, is forty four years old, and has weathered the ups and downs of economic life during that era. Two other bank organizations here were started up and failed in that period. An interesting comparison of the bank’s strength today com pared with that in 1907, the year after the new bank building was built, is seen when that year’s total bank resources were slightly under $175,000. That is a long way from today’s four million dollar total. The First National is the sixth oldest bank in the state of New Mexico. Chief among the resources of the trade area served by the bank are: Indian trading business. Fruit. Wool and lambs. Farming products. Wholesale and retail business. Oil and gas development. Dairying. During the past twenty two years the faithful service of Cashier C. C. Culpepper has played an important part in the growth of the bank. The bank personnel consists of: H. B. Sammons, President: Co. C. Culpepper, Cashier. Evelyn Freeman, Teller. Madelyn Murray, Eleanor Mc Clellan, Wm. Sawyer. Bonna Lee -Bookkeepers. H. B. Sammons, G. W. Sam mons, C. C. Mumma, Harry C. Baldwin, C. C. Culpepper are Di rectors. President Sammons, in speak ing of the type of patrons who were the backbone of the institu tion thru the years, says: “They have proved to be most loyal to their obligations with us, and I do not believe any community of this size can boast of more re sponsible and upright citizens than we have in the Farmington area.”
Newspaper Details
Farmington Times Hustler
Farmington, New Mexico, US
Fri, Jan 04, 1946
Page 20
Full Page
Clipped by
Patricia T.
NM, USA 28 May 2026
Other Publications Near Farmington, New Mexico
Farmington Daily Times
Farmington Republican
Farmington San Juan Times
Farmington Times
Farmington Times Hustler
