Poised for the next century: Marion National Bank celebrates centennial
The Marion community attended an open house Thursday to recognize Marion National Bank on its 100th anniversary.
During the open house, guests could see the original document when Marion National Bank was chartered or franchised Sept. 15, 1905.
Also on display was the bank's first call statement that showed $25,000 of capital investment with $37,000 in total assets.
According to a second call statement a year later, the bank's assets were $92,000. Interest rates were four percent.
Today, the bank boasts assets of $20 million.
Representatives of Office of the Comptroller of the Currency presented a certificate and a letter from the comptroller, recognizing the bank for the century milestone.
Established in 1863 as a bureau of the U.S. Department of the Treasury, the OCC is headed by the comptroller who is appointed to a five-year term by the U.S. President with the advice and consent of the Senate.
The comptroller also serves as a director of the Federal Deposit Insurance Corporation (FDIC) and the Neighborhood Reinvestment Corporation.
Staff examiners conduct on-site reviews of national banks and provides sustained supervision of bank operations. The agency issues rules, legal interpretations, and corporate decisions concerning banking, bank investments, community development activities, and other aspect of operations.
