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History of First Community Bank
First Community Bank was originally founded under
the name of the Farmers Bank. It opened its doors for business on July 17, 1911 with
capital of $25,000 and had assets of $109,853.03 by December 1911. The original officers
of the Farmers Bank were John A Paul, President, John H. Owen, Vice-President and
Alexander M. Paul, Cashier. Directors of the bank were John A. Paul, Alexander M. Paul,
John H. Owen, S.C Chambers, August Lalk, and Wesley Winch. |
Farmer's Bank on Merchant Row in the
1920's. Farmer's Bank is the second building from the left. |
The Farmers Bank made it through the rough and tumbling times of the depression of the
1930’s, falling security values and low farm prices. Due to the bank's successful
management, the bank continued to grow and prosper. In September 1931, an armed holdup
occurred. Four experienced criminals kept John Paul and his three children, John Jr.,
Janet and Malcolm, captive in their home until the following morning. The robbers then
forced Malcolm to go to the bank and open the vault door. They got away with
$4,000 but |
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captured and sent to prison. The Farmers Bank saw its first
facelift in 1957. By the bank's 50th
anniversary on May 6, 1961, the Farmers Bank held deposits of more
than $3,250,000. The drive-up, originally located in the rear of the
building, the walk up windows and the safe deposit vault were added
during the 1969-1970 remodeling. The bank purchased the adjoining
building to create more office space and nearly doubled in office
size. In May 1982 the drive-up window was moved to the north side of
the bank. |
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The next major change to take place at the Farmers Bank was the selling of the bank to
First Community Bancshares in 1986. This ended the 75-year era that the Paul family
was associated with the bank. The Corporation then changed its name from the Farmers
Bank to First Community Bank on May 4, 1989.
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| With our newest
remodeling in 1997, we moved into the adjoining building. New
offices were added to give additional space to our ever-growing
bank. In April 2003, we became the first in town to offer Internet
Banking with Bill Payment, making it even easier to bank with First
Community Bank. In April 2005, we once again became the first
bank in town to offer the latest technology by offering Business
Internet Banking. By March 30, 2005 our assets have increased to
an average balance of over $62 million. |
First Community Bank Today
First Community Bank has been serving the
community for over 95 years. First Community Bank continuously
seeks to serve our local community. The employees of First Community
Bank are active members of such local organizations as Milton
Optimist Club, Milton Area Chamber of
Commerce, Janesville Rotary, and the Milton Relay for Life. First
Community Bank, as well as the Officers and employees make continual
donations to local organizations such as the United Way of Rock
County, Relay for Life, and Milton sports teams. First Community Bank is a leader in offering our customers
the newest in banking technology and products and strives to exceed
in customer service.
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