2011 marks the Bank’s 115th anniversary. Since our founding in 1896 the bank has served generations of customers. In fact, nothing gives me greater pleasure than to have a forty-year customer come into my office and tell me that his grandfather first introduced him to our bank.
It’s also interesting to know that the State of Kansas celebrates its 150th anniversary this year; so Kansans didn’t have too many years of statehood without First State Bank being there to serve their banking needs.
A few fun tidbits from 1896 to share with you:
- In 1896 both the Tootsie Roll and the Cracker Jack popcorn snack were invented.
- The same year the Vendo Company marketed the first reliable Coca-Cola vending machine.
- The first modern Olympics opened at Athens with 484 contestants from 13 nations to begin a quadrennial event that has broadened to include athletic events undreamed of by the Greeks of ancient times.
- The Haynes-Duryea motorcar was introduced. It is the first U.S. motorcar to be offered for public sale. Total U.S. motorcar production was 25.
- The Dow Jones Industrial Average was published for the first time on May 26. Charles H. Dow had added up the closing prices of shares in the only 12 companies listed on the New York Stock Exchange (shares in banks and insurance companies traded over the counter; the other companies listed on the NYSE consist of 53 railroads and six utilites); dividing the number by 12, he came up with the figure of 40.94
We are pleased to report that, although the global financial strains continue to be felt across the Midwestern states and worldwide, First State Bank & Trust Co. remains in an exceptionally strong financial position. While many of the nation’s community banks are struggling to meet a minimum tier-one capitol ratio of 6%, as established by banking regulators, we are presently operating at about three times above that minimum level.
The bank continues to grow with quality customers, and we have recently completed a one thousand square foot expansion of our Overland Park office. In spite of the industry’s struggles with real estate lending, we have a clean balance sheet and are able to move forward with quality real estate borrowers.
Our strength gives us the flexibility to make investments in ourselves while providing outstanding service to our customers, regardless of their choice of how to access us. Our online banking products, our drive-up lanes, and our bank lobbies are all enhanced.
Many thanks to our sound Board of Directors, our responsive and professional staff, and our valuable customers.
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